State of Gold

Guest:
Mike Netter, Candidate for CA State Senate District 22
Guest Bio: 
Mike Netter is a veteran sales executive, radio host on KABC Talk Radio 790 AM, and entrepreneur who has built and operated several small businesses, including founding Quantum Charging. A graduate of San Diego State University, Netter first stepped into the statewide political spotlight as a key leader behind the historic 2021 recall movement against Governor Gavin Newsom. Now running as a Republican challenger for State Senate District 22 in the East San Gabriel Valley, he brings decades of private-sector experience to his fight, campaigning heavily on middle-class tax relief, regulatory rollbacks for small businesses, parental rights, and robust funding for public safety.
Show Summary
Is California truly a deep-blue monolith, or is a massive silent majority just stuck in "zombie mode"? In this episode of State of Gold, Jon Slavet is joined by Mike Netter to discuss his campaign to flip the script on California's political representation and bring logic back to governance.
Netter drops some eye-opening context about the true political makeup of the state, revealing that while Democrats command a 75% legislative supermajority, they only make up roughly 46% to 48% of total registered voters. And he lays out his legislative priorities, including a sweeping proposal to slash the state income tax by 28% for those earning $150,000, fully funding the recently passed Proposition 36, and untangling the regulatory maze that forces small business owners to take their passions and move out of state.
Chapters
00:00 – Preview: The Apathy Party and Asset Tax Traps
00:24 – Welcoming State Senate Candidate Mike Netter
00:54 – Sizing up 2028: Gavin Newsom, Kamala Harris, and the Illusion of Popularity
01:46 – Self-Nomination: Newsom’s Late-Night TV Political Pitch
02:11 – Announcing State Senate District 22: Representing One Million Voices
02:47 – Breaking the Disconnect: 48% Registration vs. 75% Supermajority
03:52 – Over-Taxed and Under-Served: The Case for a 28% Income Tax Cut
04:45 – Post-Prop 36 Funding: Rebuilding Public Safety and Small Business Infrastructure
Connect with Mike Netter
Facebook: https://www.facebook.com/mike.netter.5/
Twitter/X: https://x.com/nettermike?lang=en
Instagram: https://www.instagram.com/nettermike/
Enjoyed 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 #stateofgoldpodcast

Connect with State of Gold
X: https://x.com/realjonslavet
Linked In: https://www.linkedin.com/company/stateofgold/about
Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en
Website: www.stateofgold.com

Guest:
Gus Mattammal, Candidate for CA Superintendent of Public Instruction
Guest Bio
Gus Mattammal is a lifelong educator and the director of a leading private tutoring group in Silicon Valley. With over 20 years of experience, he has worked with more than 1,000 students from diverse socioeconomic backgrounds. Mattammal is the author of A is for Average, a book exploring the systemic failures and potential solutions for the California public school system. In addition to his work in education, he is an elected member of the Midcoast Community Council and serves on several countywide boards focused on transportation and tax oversight. He holds an MBA from the Yale School of Management and a bachelor's degree from Pomona College.
Show Summary
California currently ranks 38th in reading and 44th in math—results that Gus Mattammal argues are a direct consequence of a system that prioritizes being a "jobs program" vs. an educational provider for our kids. In this episode of State of Gold, Jon Slavet sits down with Mattammal to discuss the bold, grassroots insurgency needed to reclaim the future for California's nearly 6 million students.
Mattammal critiques the current leadership and the powerful influence of the California Teachers Association (CTA), proposing a radical shift in how the state handles its record $150 billion education budget. He details his plan to redo the state’s funding formula to repurpose future budget growth—beyond the rate of inflation—into hiring more teachers and lowering class sizes in struggling districts, all without raising taxes.
The conversation dives into the "science of reading" and why states like Mississippi are now outperforming California with half the per-pupil spending. From the "social justice" mission creep in math standards to the administrative bloat caused by Sacramento's mandates, Mattammal offers a provocative blueprint for an education system that values merit, competition, and parental choice.
Chapters
00:00 – Education System or Jobs Program?
00:49 – The Reality of Rankings: 38th in Reading, 44th in Math
02:27 – Breaking the Cycle: Breaking the CTA and Bureaucratic Bloat
03:02 – Restructuring the Funding Formula: A Plan for Growth Without New Taxes
06:15 – The Three Dimensions of a Superintendent: Facilitator, Advocate, and Manager
08:53 – Why Mississippi is Crushing California: The Science of Reading
11:42 – Public Shaming and Competition: Incentivizing Excellence
12:23 – Math Standards and "Social Justice": Why Singapore Still Leads
15:23 – The Collective Surrender: Why Ideology Replaces Results
18:35 – Declining Enrollment and the Financial Crisis in Urban Districts
19:27 – Compliance Costs: How Mandates Drive Administrative Bloat
23:25 – Rapid Fire: King for a Day and the "Gus Bus"

Connect with Gus Mattammal
Facebook: https://www.facebook.com/TheOneTrueGus/
LinkedIn: https://www.linkedin.com/in/gus-mattammal/
Twitter: https://x.com/TheOneTrueGus
Instagram: https://www.instagram.com/theonetruegus/
Website: https://www.votegus.org/
Enjoyed 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 #stateofgoldpodcast

Connect with State of Gold
X: https://x.com/realjonslavet
Linked In: https://www.linkedin.com/company/stateofgold/about
Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en
Website: www.stateofgold.com

"If this gets on the ballot, it is an existential event for California". In the second installment of our Wipeout series, we peel back the layers of the proposed 5% Billionaire Tax to reveal what is buried in the fine print: A measure that allows Sacramento politicians to expand the tax to citizens regardless of their net worth.
The panel explores the "fallout" of a policy that could force Californians to declare all assets under penalty of perjury and pay cash taxes on home equity or retirement accounts like 401ks and IRAs. We discuss the aggressive enforcement mechanisms, including subpoenas for financial records and 40% penalties for valuation disagreements.
With 45% of California's income tax already supported by the top 1% of earners, the episode examines the reality of an "exodus" to states like Florida and Texas. We look at how the departure of these high-net-worth individuals doesn't just mean "taking their bags," but taking billions in funding for teachers, firefighters, and clean water—effectively passing the bill down to the middle class. Featuring insights on why Governor Newsom and a bipartisan majority of gubernatorial candidates oppose the measure, this episode is a deep dive into why this "gateway drug" to higher taxes could hurt California's long-run fiscal picture.

Chapters
00:00 – An Existential Event: The Looming Ballot Measure
00:37 – Buried in the Fine Print: Expanding the Tax Regardless of Net Worth
01:10 – The Asset Declaration: Penalty of Perjury and Cash Requirements
01:25 – Enforcement Tactics: Subpoenas and 40% Valuation Penalties
01:48 – Beyond Billionaires: Targeting 401ks, IRAs, and Home Values
02:18 – The Franchise Tax Board: Subpoenaing Personal Financial Records
02:37 – Uncle Harry’s Bill: Why the Top 1% Fund 45% of the State
03:08 – The Charity Collapse: What Happens When Billionaires Leave Communities
03:36 – Passing the Bill Down: Losing Billions for Schools and Firefighters
04:11 – The Gateway Drug: Reaction to California’s New "Fringe" Reputation
04:47 – Bipartisan Opposition: Newsom and the Gubernatorial Candidates
05:14 – Truth Seekers: Closing the Long-Run Fiscal Picture
Enjoyed 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 #stateofgoldpodcast

Connect with State of Gold
X: https://x.com/realjonslavet
Linked In: https://www.linkedin.com/company/stateofgold/about
Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en
Website: www.stateofgold.com

Guest:
Pete Peterson - Dean of the Pepperdine School of Public Policy
Guest Bio: 
Pete Peterson is a leading national voice on civic engagement and state governance, currently serving as the Dean of the Pepperdine School of Public Policy. A former candidate for California Secretary of State, Peterson has dedicated his career to improving how citizens interact with their government. He is a senior fellow at the Davenport Institute for Public Engagement and has been at the forefront of the "Leading Smart Communities" initiative, which trains public officials to use technology and data transparency to run more efficient municipalities. Known for his analytical approach to California’s unique political landscape, Peterson is a frequent contributor to national and state-level discussions on election reform and the future of the California dream.
Show Summary
"California is America on steroids," says Pete Peterson—but according to the Pepperdine Dean, being a "one-party state" for too long has left the Golden State in decay. In this episode of State of Gold, Jon Slavet sits down with Peterson to break down the high-stakes 2026 Governor’s race and why a "political earthquake" could be on the horizon.
Peterson explores the "less than 25% chance" of two Republicans emerging from the jungle primary and explains why a Republican Governor might be the only "check" left to rein in a progressive legislature. The conversation pulls no punches on the state’s fiscal reality, noting that while the budget has doubled in less than a decade, public services from education to infrastructure are in a tailspin—even underperforming states like Mississippi and Alabama.
From the "Trojan Horse" of the Billionaire Tax and the "moral hazard" of public sector unions to the potential for a "California DOGE" (Department of Government Efficiency), Peterson offers a masterclass in why people are "voting with their feet". This is a deep dive into whether California is at its "darkest before the dawn" and what it will take to restore the luster to the world's fifth-largest economy.
Chapters
00:00 – California: America on Steroids
00:36 – The Jungle Primary: Could Two Republicans Emerge?
01:53 – Reforming the System: Top Two vs. Top Five Primaries
02:53 – Chaos as a Check: A Republican Governor vs. a Supermajority
04:16 – Advice to the GOP: Creating a Vision Beyond "Reagan 2.0"
06:01 – Grading the Democrats: Name Recognition vs. Policy Substance
07:39 – The Moderate Lane: Can Matt Mahan or Antonio Villaraigosa Break Through?
08:57 – National Politics: Trump, Midterms, and the Divided Congress
11:24 – The "Gold Rush in Reverse": Why the Billionaire Tax is a Bad Idea
12:49 – The Blue State Model: High Taxes and Declining Services
14:52 – The Public Sector Union Problem: Breaking the Cycle
17:18 – California DOGE: Applying Tech and Transparency to Sacramento
20:45 – The Path Forward: Removing Collective Bargaining from Public Unions
23:18 – Optimism for the Golden State: A History of Solving Human-Made Problems
Connect with Pete Peterson
Facebook: https://www.facebook.com/PeteSOS/
Twitter:
Enjoyed 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 #stateofgoldpodcast

Connect with State of Gold
X: https://x.com/realjonslavet
Linked In: https://www.linkedin.com/company/stateofgold/about
Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en
Website: www.stateofgold.com

In just a few years, California went from a $100 billion budget surplus to a $30 billion structural deficit. How does the world’s fourth-largest economy wipe out that much cash so quickly? In this mini-episode State of Gold takes a hard look at CA’s out of control "spending spree" as well as the rampant waste and fraud plaguing Sacramento.
Noted experts break down the "regressive" nature of California’s current path, where middle-class residents are squeezed by electricity and gas prices while state government spending doubles over the past decade. Wipeout reveals the "perverse financial incentives" that allow social problems to grow, and fail, despite record spending.
Chapters
00:00 – The $100 Billion Wipeout: From Surplus to Deficit
00:08 – The Real Math: 60% Revenue Growth vs. 72% Spending Growth
00:16 – Fraud Exported: $30 Billion Sent to Scammers
00:34 – The 2022 Surplus vs. Today’s Structural Deficit
00:52 – Boiling the Frog: Expanding Government Beyond Inflation
01:11 – Twice the Spending, Half the Quality: The 10-Year Decline
01:19 – Misaligned Priorities: School Renaming & Zoom Classrooms
01:31 – Education Failure: Bottom Quintile Results Despite Billions Spent
01:51 – Fraud Everywhere: From Special Districts to Wildfires
02:00 – The Audit Gap: Why Lawmakers Ignore Solutions
02:30 – Siphoning Funds: Interest Groups and Spending Decisions
02:47 – Breaking the Basics: Failing to Deliver on Record Budgets
02:58 – The Tax Loop: Solvency vs. Accountability
03:15 – Next Week: The Existential Threat of the Billionaire Tax
Enjoyed 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 #stateofgoldpodcast

Connect with State of Gold
X: https://x.com/realjonslavet
Linked In: https://www.linkedin.com/company/stateofgold/about
Instagram: https://www.instagram.com/stateofgoldpodcast/?hl=en
Website: www.stateofgold.com