The MeidasTouch Podcast

Episode: Tom Steyer Discusses Affordability and Governor’s Race

Date: December 7, 2025
Host(s): Ben Meiselas (with Brett and Jordy Meiselas)
Guest: Tom Steyer (Democratic candidate for Governor of California)

Episode Overview

This episode centers around a substantive, candid interview with Tom Steyer, billionaire philanthropist and Democratic candidate for Governor of California. The Meiselas brothers and Steyer dissect the state's affordability crisis, delve into Steyer’s platform and major policy proposals, address criticisms of both the current and past administrations’ responses to affordability, and contrast Steyer’s business record with Donald Trump’s. Steyer speaks openly about his policy evolution, particularly regarding healthcare, and makes an impassioned case for bold, structural reform. The conversation is lively, detailed, and pulls no punches when it comes to both humor and policy critique.

Key Discussion Points & Insights

1. Affordability Crisis in California

• [07:18] Tom Steyer: Steyer asserts that “the issue in California is affordability,” disputing MAGA Republicans' dismissal of the problem.

  • Major Cost Concerns: Rents, utility bills (esp. electricity), healthcare, and insurance.
  • Steyer points out that “working people of this state...are getting run over by costs, starting with rent.”
  • He frames special interests (oil, tobacco, and large corporations) as central to the affordability challenges and touts his record of “taking on the oil companies... tobacco companies...and huge out of state companies that were gaming their California state income tax.”

• [09:00] Steyer’s Signature Proposal:
  Advocates for closing California’s corporate real estate tax loophole—a policy change estimated to generate $10-15 billion annually, which Steyer claims will support education and healthcare:

  “That’s money that can go to education. That’s money that can go to healthcare. Californian citizens are struggling in a state that’s incredibly rich. We’re not short of money, Ben. The way the money gets distributed... has to change.” ([09:53])

2. Healthcare Reform and Evolution of Steyer’s Position

• Steyer’s Plan ([11:26]):
  • Short-term: Plug revenue gaps by closing loopholes and targeting special interests.
  • Long-term: Support for “single payer”/Medicare-for-All, described as an evolution in his thinking.
  • Steyer candidly admits to evolving on this issue:

    “The truth is I was wrong. And when I look at the data and see I’m wrong, it’s like, okay, I change. And so I give Bernie Sanders a ton of credit for being right.” ([14:01-14:30])

    • He now sees single payer as the only way “to bring in the government to force down those [healthcare] costs.”

3. Critique of Republican Policy & Political Rhetoric

• [02:44] and [04:14]: The brothers play recent clips from MAGA Republicans, including Speaker Mike Johnson and Donald Trump, minimizing the affordability crisis, with Johnson repeatedly saying “Relax. We are exactly on the trajectory where we want to be.” Ben counters:

  “You seem to be bringing the inflation up and you seem also to be having a jobless rate that looks like the Great Recession right now.” ([04:14])

• [05:54]: The Meiselas brothers lampoon plans to revive 1970s station wagons and for airport travelers to “say please and thank you,” mocking Republicans’ “retro” priorities.

• [06:19]: The brothers call out MAGA congress members resisting limits on stock trading, quipping about the disconnect from average Americans’ financial struggles.

4. Standing Up to Trump and Federal Overreach

• California as a MAGA Scapegoat ([16:20]): Ben lays out the “California Derangement Syndrome” observed in MAGA circles.
• Immigration Raids and Federal Incursions ([17:13]):
  • Steyer promises to “stand up every single day as aggressively as I possibly can legally... to expose Trump for what he is, which is someone who’s trying to invade his own country.”
  • Applauds Newsom's resistance but pledges to bring “three-dimensional chess” and emphasize practical success:

    “It’s not just enough to say where he’s wrong. We have to start talking about where we’re right. We have to be shown that in fact, he is an out of touch and delusional old man.” ([20:19])

5. Climate Action and Innovative Economy

• Steyer positions California as the global leader for the future, not the past:

  "When we look around the world about what the 21st century looks like, it doesn’t look one bit like a 1950s gas guzzling station wagon... it looks an awful lot like really inexpensive, really fantastic software, enables electric vehicles.” ([19:00])

6. Business Acumen: Steyer vs. Trump ([21:16], [22:37])

• The brothers and Steyer contrast his business-grounded policy approach with Trump’s attention economy bluster.
• Steyer describes Trump's failures in trade negotiations (esp. with China):

  "Let me say what the Chinese call Donald Trump. They call him the nation builder. And the nation they’re referring to is their own. They view him as the weakest possible opponent...” ([22:37])

  • Steyer ties Trump’s policymaking to weakness with bullies, “completely divorced from the real economy.”

7. Steyer’s Vision for California and Campaign Appeal

• Defining Message ([25:15]):

  “We are this state that creates the future. But that future has to include everybody. It has to include every working person, every family here, not just millionaires, billionaires and trillionaires.”

  • Steyer’s pitch is rooted in optimism and data-driven, structural reform, promising to deliver real, inclusive prosperity.

Notable Quotes & Memorable Moments

• Steyer on Wealth and Public Service ([07:18]):

  “Yeah, I am a business person who started a very successful business and walked away from it 15 years ago so I could give back to the state of California which has given me so much.”

• A Public Admission of Evolution ([14:20]):

  “The truth is I was wrong. And when I look at the data and see I’m wrong, it’s like, okay, I change. And so I give Bernie Sanders a ton of credit for being right.”

• Ben on MAGA Leadership’s Detachment ([04:14]):

  “You seem to be bringing the inflation up and you seem also to be having a jobless rate that looks like the Great Recession right now.”

• Steyer on Trump’s Weakness vs. China ([22:37]):

  "They [China] call him [Trump] the nation builder. And the nation they’re referring to is their own."

• Steyer’s Campaign Message ([26:04]):

  “I have a love affair with California because I love California people. That’s the truth. That’s why I’m running for governor.”

Timestamps for Major Segments

• [07:18] Steyer describes the affordability crisis and his experience fighting special interests.
• [09:53] Steyer explains his proposal to close the corporate real estate loophole.
• [11:26] Discussion of healthcare reform, ACA affordability, and Steyer’s single payer plan.
• [14:01] Steyer admits his evolution on Medicare for All and credit to Sanders.
• [16:20] Ben and Steyer on California vs. "MAGA" federal overreach.
• [19:00] Steyer critiques “drill baby, drill” and highlights CA leadership in tech/EVs.
• [22:37] Steyer contrasts his business acumen with Trump’s record and China policy.
• [25:15] Steyer’s optimistic, inclusive vision for California.
• [26:04] Final campaign message and call to action.

Tone and Style

• The tone is forthright, occasionally humorous (especially in bro banter and mocking GOP rhetoric), but always engaged with policy detail.
• Steyer comes across as direct, data-driven, and unafraid to admit past errors—while making a passionate, optimistic pitch for working families.

Summary Value

This episode provides a thorough, revealing look at Tom Steyer’s gubernatorial platform, his perspective on major economic, social, and political issues, and a candid comparison to both California’s recent leadership and Donald Trump’s record. The interplay between critical policy analysis and the Meiselas brothers’ sardonic humor makes for an engaging and informative listen for anyone interested in California or national politics.