UC-Berkeley Law Prof Helps Promote Tax on Ultra-Wealthy
“a realization-based reform that targets extreme wealth by ensuring the ultrarich pay tax on large investment gains, not just on wages”
So much of progressivism is just about using government to take from some and give to others.
Campus Reform reports:
UC Berkeley law professor helps design tax on ultra-wealthy, says capitalism ‘not working well’
A University of California, Berkeley professor recently promoted legislation to tax California’s wealthiest residents, including billionaires, while publicly expressing skepticism about capitalism.
Brian Galle, a professor at the university’s law school specializing in federal income tax and corporate tax policy, gave a talk entitled “How to Tax the Rich” for the school’s James M. and Cathleen D. Stone Center on Wealth and Income Inequality.
During the lecture, Galle promoted the Fair Share Tax as a means of taxing what he perceives to be a small number of people who possess a majority of the country’s wealth.
In an article for the Roosevelt Institute, a left-wing think tank, Galle described the tax as “a realization-based reform that targets extreme wealth by ensuring the ultrarich pay tax on large investment gains, not just on wages.”
Galle claims that the measure would be “constitutionally resilient” and likely avoid being overturned by the Supreme Court since it targets realized income and is not an annual property tax. He also says that it would be an effective way of taxing dynastic trusts, accusing those who transfer wealth intergenerationally and defer tax payments of “starving the Treasury.”
During the lecture, Galle also discussed the 2026 California Billionaire Tax Act, which “would impose a one-time 5% wealth tax on California billionaires” that is “based on worldwide net worth of taxpayers,” according to a research paper he co-authored.
The tax proposal was developed in part by Galle and will be voted on in the November election if it garners enough signatures to appear on the ballot.
Galle has also been a vocal opponent of capitalism, telling Fortune that it “doesn’t seem to be working well” and arguing that large concentrations of wealth justify more aggressive taxation policies.
Miguel Muniz, the head of Berkeley College Republicans, called Galle’s comments “laughable,” arguing instead that capitalism has afforded Americans with economic opportunity.
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Comments
galle is just another leech with too much power
I’m just heating up some popcorn while I wait for this freight train and the one carrying gubernatorial candidate Steyer to collide, smack in the middle of the Unicorn County Fairgrounds, far from anyplace that might inconvenience conservatives.
Newsflash. Someone needs to tell this guy that everyone pays taxes on investment gains. It is called the capital gains tax and it takes income we would otherwise spend or reinvest and shovels it over to the federal government who immediately lights it on fire.
Yeah, I was going to make that same comment, but apparently these commies have a hair across their backholes for generational trusts, of the kind you use to make sure your kids — and not some jackhole Democrat — inherit the estate you amassed after you are dead. Given that generational trusts typically cannot last beyond one generation, as far as I’m concerned, they can cope and seethe. Even one generation is not enough to protect assets like family farms from being split up and destroyed.
What’s odd is that a lot of trust fund babies are neer-do-wells and typically vote democrat to virtue signal.