Zero State Income Tax? The 15% Flat Tax Plan to Save California | Ethan Penner
Zero State Income Tax? The 15% Flat Tax Plan to Save California | Ethan Penner  
Podcast: State of Gold
Published On: Tue Dec 09 2025
Description: Guest:Ethan Penner, Independent Candidate for Governor Guest Bio: Ethan Penner is a prominent investor and finance innovator best known for helping to create the modern commercial mortgage-backed securities market. Now, as an independent candidate for California governor, he’s proposing sweeping reforms—from an audacious flat tax plan to a state-run insurance mutual and a unified solution to homelessness. A thought leader who blends economic insight with a community-first vision, Penner offers a bold roadmap for revitalizing the Golden State.Show SummaryIn this compelling episode, independent gubernatorial candidate Ethan Penner lays out his radical blueprint for a better California. He breaks down his proposal to eliminate all state income and corporate taxes in favor of a single 15% consumption tax—with a built-in “prebate” for lower-income residents to avoid regressive impacts.Penner also unveils his plan for a public, non-profit property insurance mutual to address California’s insurance crisis, plus his vision to replace the “homeless industrial complex” with one accountable statewide model. He finishes with powerful insights on education reform, including pay-for-performance family incentives, extended school hours, and working around entrenched systems like CTA to honor great teachers.Whether you agree or not, Penner's ideas will challenge your thinking and spark conversation.Chapters00:00 – Ethan Penner’s Bold Tax Proposal01:46 – Making the Tax Non-Regressive with a Pre-bate03:51 – Tax Implications for High Earners & Behavioral Impact06:32 – Audit Spending, Not Income08:08 – A New Public Insurance Model for CA11:16 – Rewarding Good Behavior with Premiums12:54 – Statewide Fire Prevention + Early Warning Systems14:12 – Fixing the Homelessness Crisis with One Plan16:05 – Why the Incentive Structure Must Change17:25 – The Education Crisis: Real Incentives for Families18:28 – Rethinking Time in School & Homework Support20:04 – The CTA Barrier and Talking Directly to Teachers22:22 – Rapid Fire: First Action & Final ThoughtsConnect with Ethan PennerWebsite: https://www.pennerforgovernor.com/Instagram: https://www.instagram.com/pennerforca/Tik Tok: https://www.tiktok.com/@pennerforca?_t=ZP-8yGvZjgEJGZ&_r=1X: https://x.com/pennerforca?s=21Enjoyed the episode? Subscribe to our podcast, leave a review on Apple Podcasts or Spotify and join the conversation on Instagram and LinkedIn with the hashtag #stateofgoldpodcastConnect with State of GoldX: https://x.com/realjonslavetLinked In: https://www.linkedin.com/company/stateofgold/aboutInstagram: https://www.instagram.com/stateofgoldpodcast/?hl=enWebsite: www.stateofgold.com