Midway through this summer, a high-quality poll found that Democrats in California were overwhelmingly in favor of the upcoming ballot measure for a one-time 5% tax on billionaire wealth.

The ratio was more than 4 to 1. But the state’s most powerful Democrats – including the governor Gavin Newsom, his near-certain successor Xavier Becerra and the Los Angeles mayor Karen Bass – have lined up with Silicon Valley billionaires who’ve raised upward of $340m to defeat the initiative.

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[–] 8 points 1 week ago (5 children)

Should be 100% on anything over 20 billion. 50% for over 10 billion, and decreasing 10% for each 10 billion under that.

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  • [–] 10 points 1 week ago (3 children)

    That's way too high. Should be 100% over 250 million

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  • I'd have to look at what the equivalent is when they taxed the shit out of millionaires back in the day, I didn't take the time to calculate CPI and figure out what the equivalent would be to be "fair" so I just made something up that sounded close.

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