CA wants a 5% tax on net worth of billionaires.
There are 200 billionaires in CA, or so they say. Off the top of my head I believe that is around 300 Million dollars per billionaire if their total net worths are as estimated at 1.2 Trillion dollars.
No mention out of Sacramento whether they are considering any kind of cuts to their spending. They are already about 50 billion under water on their retirement plans that they gave themselves and forced on the private sector taxpayers.
It will take 800,000 signatures to put this on the ballot. They will get those signatures in about a week.
It goes to show you that the prognosticators over the last century or so were right. When the irresponsible socialists run out of money, they come after yours.
Union backs California proposal for one-time 5% billionaire tax | Fox Business
California billionaires face proposed one-time wealth taxThe measure – called the "2026 Billionaire Tax Act" – seeks to counter $30 billion in potential federal funding cuts to California's Medicaid program, with a portion of the revenue earmarked for public education, according to supporters, which include the Service Employees International Union (SEIU).
Proponents of the measure sent a request to the California Attorney General’s Office on Oct. 21 to get approval to begin collecting signatures.
Comments
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California medicaid goes to illegals
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Firefighters told to back off of smoldering brush on 1/2.
I think Gavin Newsom might be a real-life Patrick Bateman. He’s had to have watched American Psycho hundreds of times. I’ve been around a lot of phony faggots in my corporate career in Portland anmd traveling all of US/Canada, and this guy is a poseur even in that crowd.
Look at this Txeet getting buried by some SF algorithm..
“Ordered to leave”
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The non-California populists are outraged that populism exists in California.
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Charge 'em for the lice, extra for the mice
Two percent for looking in the mirror twice (Hand it over!)
Here a little slice, there a little cut
Three percent for sleeping with the window shut
When it comes to fixing prices
There are a lot of tricks I knows
How it all increases, all those bits and pieces
Jesus! It's amazing how it grows!
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Defend it Doris
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They'll all move to Arizona, Texas, Tennessee, and Florida and the world will end. Hannity said so in his annoying, nasally Long Island accent. I don't like being on the same side as Soccerdork, H, and Bucky, but my heart doesn't bleed for billionaires, especially those who inherited huge trust funds.
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I'm not defending it, Gladys.
You were for the populism before you were against the populism.
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"One time" "only the billionaires"
Personally know at least two very wealthy families that already moved the majority of their assets out of state just as a hedge against this shit. Plenty more following or eyeing the exits.
I wonder if that affects the economy?
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California is exactly what happens when a state is overrun by people who don’t care about contributing and a political party that uses taxpayer money to enrich themselves.
The incompetence is actually impressive to have California lose House districts annd population and scramble to try and reseed voting patterns. You have to be fully selfish to fu k up that state and beg for federal taxpayer money.
The fire lawsuits will be fun to see in federal court,
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TugCons are going to pretend this citizen initiative doesn't appeal to all flavors of populists apparently.
