Brian Galle
@bdgesq.bsky.social
Berkeley law prof guy, erstwhile Georgetown, DOJ, & points in between. Mostly boring tax stuff; occasional dollops of nonprofits, law & econ, etc. Could be arguing in my spare time.
Retweeting for the kid in the t-shirt. The guy dressed as the Monopoly top-hat character...I mean, I chuckled, but a bit easy. Let's get creative out there, people.
A group claiming that “Vilifying billionaires is popular. Losing them is expensive” is holding a March for Billionaires in SF on Saturday, seemingly hoping to tap some silent majority that actually loves the billionaire class. buff.ly/jcF7sRW
A ‘Pro-Billionaire’ March and Rally Is Coming to SF Saturday, and Apparently This Is Not a Joke
A group claiming that “Vilifying billionaires is popular. Losing them is expensive” is holding a March for Billionaires in SF on Saturday, seemingly hoping to tap some silent majority that actually…
buff.ly
February 3, 2026 at 1:36 AM
Retweeting for the kid in the t-shirt. The guy dressed as the Monopoly top-hat character...I mean, I chuckled, but a bit easy. Let's get creative out there, people.
Reposted by Brian Galle
Oh wow, uh okay full disclosure we are receiving tremendous amounts of cash to be here.
We're serious. No one is paying us for this. We know that our views are unpopular here, but we believe in engaging in good-faith discourse with those of differing opinions.
February 1, 2026 at 7:52 PM
Oh wow, uh okay full disclosure we are receiving tremendous amounts of cash to be here.
Reposted by Brian Galle
Our fellow @bdgesq.bsky.social helped design the California tax. Now, he’s advancing a nationwide ultra-wealth tax—to rein in extreme wealth and, by extension, curb the political power that currently comes with it in every state in the country.
Read the plan here:
Read the plan here:
How to Tax the Ultrarich
Learn about the Fair Share Tax (FAST), a practical, constitutionally sound plan to tax the ultrarich, close loopholes, and prevent dynastic wealth accumulation.
rooseveltinstitute.org
February 2, 2026 at 3:24 PM
Our fellow @bdgesq.bsky.social helped design the California tax. Now, he’s advancing a nationwide ultra-wealth tax—to rein in extreme wealth and, by extension, curb the political power that currently comes with it in every state in the country.
Read the plan here:
Read the plan here:
"The butlers' march"
February 1, 2026 at 10:03 PM
"The butlers' march"
Apparently, this is real. Or if it's actually by that Borat guy, he created a very, very deadpan web site.
Anyway, imagine the vanity & self-regard it would take to organize a protest *this* week and it's against a 1% annual tax on billionaires.
Anyway, imagine the vanity & self-regard it would take to organize a protest *this* week and it's against a 1% annual tax on billionaires.
February 1, 2026 at 3:05 AM
Apparently, this is real. Or if it's actually by that Borat guy, he created a very, very deadpan web site.
Anyway, imagine the vanity & self-regard it would take to organize a protest *this* week and it's against a 1% annual tax on billionaires.
Anyway, imagine the vanity & self-regard it would take to organize a protest *this* week and it's against a 1% annual tax on billionaires.
Reposted by Brian Galle
@oxfaminternational.bsky.social reports billionaire wealth has reached a new peak. Policy needs to catch up.
The FAST proposal from @bdgesq.bsky.social offers a practical way to tax the ultrarich in the US ⬇️
https://bit.ly/4btkkp0
The FAST proposal from @bdgesq.bsky.social offers a practical way to tax the ultrarich in the US ⬇️
https://bit.ly/4btkkp0
January 31, 2026 at 7:50 PM
@oxfaminternational.bsky.social reports billionaire wealth has reached a new peak. Policy needs to catch up.
The FAST proposal from @bdgesq.bsky.social offers a practical way to tax the ultrarich in the US ⬇️
https://bit.ly/4btkkp0
The FAST proposal from @bdgesq.bsky.social offers a practical way to tax the ultrarich in the US ⬇️
https://bit.ly/4btkkp0
Reposted by Brian Galle
Six months ago, we told you all about how NYC millionaires wouldn’t run for the hills if Mamdani won and raised their taxes.
Now, we’re debunking the same myth with the new California billionaire tax ballot measure.
Learn more in our new Closer Look:
patrioticmillionaires.org/perspectives...
Now, we’re debunking the same myth with the new California billionaire tax ballot measure.
Learn more in our new Closer Look:
patrioticmillionaires.org/perspectives...
Here's the skinny on the California wealth tax ballot measure
patrioticmillionaires.org
January 30, 2026 at 11:54 PM
Six months ago, we told you all about how NYC millionaires wouldn’t run for the hills if Mamdani won and raised their taxes.
Now, we’re debunking the same myth with the new California billionaire tax ballot measure.
Learn more in our new Closer Look:
patrioticmillionaires.org/perspectives...
Now, we’re debunking the same myth with the new California billionaire tax ballot measure.
Learn more in our new Closer Look:
patrioticmillionaires.org/perspectives...
Reposted by Brian Galle
ICYMI, this is one of the coolest projects I’ve peeked behind the curtain on.
If you’re a tax nerd this mechanism is worth your time to understand
If you’re a tax nerd this mechanism is worth your time to understand
Readers, today is the exciting launch day for my book!
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
How to Tax the Ultrarich
Learn about the Fair Share Tax (FAST), a practical, constitutionally sound plan to tax the ultrarich, close loopholes, and prevent dynastic wealth accumulation.
bit.ly
January 30, 2026 at 12:27 PM
ICYMI, this is one of the coolest projects I’ve peeked behind the curtain on.
If you’re a tax nerd this mechanism is worth your time to understand
If you’re a tax nerd this mechanism is worth your time to understand
Reposted by Brian Galle
“I’m interested in how things work. And right now, it [capitalism] doesn’t seem to be working well,” Professor Brian Galle (@bdgesq.bsky.social) spoke to @fortune.com about his new book, How to Tax the Ultrarich: https://bit.ly/3LTOA1V
California billionaires’ revolt over a 1% annual tax is ‘nonsense,’ architect says: A 1% annual tax won’t doom anyone’s business | Fortune
UC Berkeley professor Brian Galle told Fortune he’s an “enthusiastic capitalist” and his tax ideas have nothing to do with harming the U.S. economy.
fortune.com
January 30, 2026 at 4:14 AM
“I’m interested in how things work. And right now, it [capitalism] doesn’t seem to be working well,” Professor Brian Galle (@bdgesq.bsky.social) spoke to @fortune.com about his new book, How to Tax the Ultrarich: https://bit.ly/3LTOA1V
In short, the FAST offers a path towards getting a more genuinely progressive tax system that is hard for ultrarich investors to dodge, while fitting into the narrow legal path the Court is willing to accept. Read more: bit.ly/4rk6wBM
12/12
12/12
How to Tax the Ultrarich
Learn about the Fair Share Tax (FAST), a practical, constitutionally sound plan to tax the ultrarich, close loopholes, and prevent dynastic wealth accumulation.
bit.ly
January 29, 2026 at 6:33 PM
In short, the FAST offers a path towards getting a more genuinely progressive tax system that is hard for ultrarich investors to dodge, while fitting into the narrow legal path the Court is willing to accept. Read more: bit.ly/4rk6wBM
12/12
12/12
As a special transition rule, anyone who makes the election to pay early within the first 2 years of the new regime would just pay capital gains, not the extra FAST charge. That would strongly incentivize investors to pay tax on their existing $2-4 trillion in untaxed gains right away.
11/12
11/12
January 29, 2026 at 6:33 PM
As a special transition rule, anyone who makes the election to pay early within the first 2 years of the new regime would just pay capital gains, not the extra FAST charge. That would strongly incentivize investors to pay tax on their existing $2-4 trillion in untaxed gains right away.
11/12
11/12
One other key element is that taxpayers would have the option to pay earlier than sale. This is very similar to existing rules for interests in foreign mutual funds, known as PFICs. We want people to make the election b/c we want that money within Congress’ 10-year budget window.
10/12
10/12
January 29, 2026 at 6:33 PM
One other key element is that taxpayers would have the option to pay earlier than sale. This is very similar to existing rules for interests in foreign mutual funds, known as PFICs. We want people to make the election b/c we want that money within Congress’ 10-year budget window.
10/12
10/12
What this means economically is wealthy investors would no longer have a tax reason to hold onto their property. Government would get the same revenue as it would have under a wealth or MtM tax. We'd get the progressivity, too. Everything would look like wealth or MtM tax, except the timing.
9/12
9/12
January 29, 2026 at 6:33 PM
What this means economically is wealthy investors would no longer have a tax reason to hold onto their property. Government would get the same revenue as it would have under a wealth or MtM tax. We'd get the progressivity, too. Everything would look like wealth or MtM tax, except the timing.
9/12
9/12
The FAST taxes a successful investor who sells in an amount that leaves them with exactly the $$ they would have had if they had been paying annual tax all along, and re-investing the remaining proceeds. So the rate is higher the more the property has increased in value.
8/12
8/12
January 29, 2026 at 6:32 PM
The FAST taxes a successful investor who sells in an amount that leaves them with exactly the $$ they would have had if they had been paying annual tax all along, and re-investing the remaining proceeds. So the rate is higher the more the property has increased in value.
8/12
8/12
My proposal – which I call the Fair Share Tax, or FAST—aims to get us the revenues and incentives of an MtM tax (taxing gains/losses each year regardless of sale) while still fitting within the Court’s definition of “income” as happening only at sale. The way to do that is to adjust the rate.
7/12
7/12
January 29, 2026 at 6:31 PM
My proposal – which I call the Fair Share Tax, or FAST—aims to get us the revenues and incentives of an MtM tax (taxing gains/losses each year regardless of sale) while still fitting within the Court’s definition of “income” as happening only at sale. The way to do that is to adjust the rate.
7/12
7/12
But at the federal level, there is a constitutional problem. In 2024, SCOTUS suggested that broad-based wealth & MtM taxes would likely be inconsistent with the 16th Am. definition of “income.” That claim is silly & ahistorical. So is a lot of what this Court says, but it’s the law right now.
6/12
6/12
January 29, 2026 at 6:31 PM
But at the federal level, there is a constitutional problem. In 2024, SCOTUS suggested that broad-based wealth & MtM taxes would likely be inconsistent with the 16th Am. definition of “income.” That claim is silly & ahistorical. So is a lot of what this Court says, but it’s the law right now.
6/12
6/12
Common solutions include either a wealth tax or a “mark-to-market” income tax. MtM is just an income tax where each year changes in the value of unsold property are included in income. Without one of these, it would be very hard to impose a meaningful tax burden on the wealthiest households.
5/12
5/12
January 29, 2026 at 6:30 PM
Common solutions include either a wealth tax or a “mark-to-market” income tax. MtM is just an income tax where each year changes in the value of unsold property are included in income. Without one of these, it would be very hard to impose a meaningful tax burden on the wealthiest households.
5/12
5/12
The key problem is that our income tax system (mostly) only taxes investment gains at sale. That allows those who are rich enough to have the luxury of waiting to hold highly appreciated property for a long time, and often until death, greatly reducing their tax burden.
4/12
4/12
January 29, 2026 at 6:30 PM
The key problem is that our income tax system (mostly) only taxes investment gains at sale. That allows those who are rich enough to have the luxury of waiting to hold highly appreciated property for a long time, and often until death, greatly reducing their tax burden.
4/12
4/12
Why? Few reasonable people today will look at our federal tax system and say it’s fair or it’s working. Billionaires pay a 20% lower all-in rate than the median household. That wealth—and the social control it offers--can then pass down tax-free for generations. Tax policy can help.
3/12
3/12
January 29, 2026 at 6:30 PM
Why? Few reasonable people today will look at our federal tax system and say it’s fair or it’s working. Billionaires pay a 20% lower all-in rate than the median household. That wealth—and the social control it offers--can then pass down tax-free for generations. Tax policy can help.
3/12
3/12
The core proposal is to impose an extra income tax on gains from sale of property in excess of a lifetime $15m exemption. The rate rises the more the sold property has appreciated. The estate tax is replaced with an additional tax at sale on inherited property, plus a small annual down payment.
2/12
2/12
January 29, 2026 at 6:30 PM
The core proposal is to impose an extra income tax on gains from sale of property in excess of a lifetime $15m exemption. The rate rises the more the sold property has appreciated. The estate tax is replaced with an additional tax at sale on inherited property, plus a small annual down payment.
2/12
2/12
Readers, today is the exciting launch day for my book!
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
How to Tax the Ultrarich
Learn about the Fair Share Tax (FAST), a practical, constitutionally sound plan to tax the ultrarich, close loopholes, and prevent dynastic wealth accumulation.
bit.ly
January 29, 2026 at 6:30 PM
Readers, today is the exciting launch day for my book!
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
How to Tax the Ultrarich
bit.ly/4rk6wBM
In partnership with the great economic policy team @rooseveltinstitute.org
A few threads will follow. 1st, the key takeaway: even w/ *this* Supreme Court, we can tax wealth at the federal level.
1/12
Reposted by Brian Galle
A just tax system is essential to rebuilding our democracy. Proud to publish @bdgesq.bsky.social's new paper on one way to get there.
NEW📰: A constitutionally sound tax plan to make the ultrarich pay their fair share that:
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
January 29, 2026 at 3:34 PM
A just tax system is essential to rebuilding our democracy. Proud to publish @bdgesq.bsky.social's new paper on one way to get there.
Reposted by Brian Galle
NEW📰: A constitutionally sound tax plan to make the ultrarich pay their fair share that:
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
January 29, 2026 at 2:00 PM
NEW📰: A constitutionally sound tax plan to make the ultrarich pay their fair share that:
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
✅ Targets extreme wealth
✅ Closes trust & inheritance loopholes
✅ Ties payments to cash events, making it enforceable
Read our latest from @bdgesq.bsky.social:
https://bit.ly/4rk6wBM
No worries, it was a great post.
The reason we emphasize the difference is that the tax-avoiding techniques that shift resources out of state (without real relocations) generally depend on the realization rule. Thus they aren't very effective in response to wealth or mark-to-market reforms.
The reason we emphasize the difference is that the tax-avoiding techniques that shift resources out of state (without real relocations) generally depend on the realization rule. Thus they aren't very effective in response to wealth or mark-to-market reforms.
January 28, 2026 at 9:22 PM
No worries, it was a great post.
The reason we emphasize the difference is that the tax-avoiding techniques that shift resources out of state (without real relocations) generally depend on the realization rule. Thus they aren't very effective in response to wealth or mark-to-market reforms.
The reason we emphasize the difference is that the tax-avoiding techniques that shift resources out of state (without real relocations) generally depend on the realization rule. Thus they aren't very effective in response to wealth or mark-to-market reforms.
Ugh, typo up top. Meant to say Dean "refers to" the right-wing think tank paper; don't want any readers to think I was suggesting he authored or endorsed it.
January 28, 2026 at 7:39 PM
Ugh, typo up top. Meant to say Dean "refers to" the right-wing think tank paper; don't want any readers to think I was suggesting he authored or endorsed it.