Not only did the billionaire tax fail in California, but prop 42, to amend the California constitution to forbid the introduction of taxes on personal property (investment accounts, art) for the wealthy in the future, backed by greaseball Gavin Newsom, seems to have passed.

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[–] 7 points 21 hours ago* (2 children)

The text for Prop 40 isn't confusing or ambiguous at all

https://ballotpedia.org/California_Proposition_40,_One-Time_Wealth_Tax_for_State-Funded_Healthcare,_Education,and_Food_Assistance_Programs_Initiative(2026)

A "yes" vote supported this initiative to levy a one-time 5% tax on the accumulated wealth of taxpayers and trusts with covered assets valued over $1 billion, including shares of capital stock, bonds or other evidences of indebtedness, and any legal or equitable interest, to fund state health care programs, food assistance programs, and public education.

Seems pretty clear to me what this is, and yet it's still failing. Bunch of temporarily embarrassed billionaires in California I guess 🙄

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  • [–] 1 point 20 hours ago*

    If I read that with the comprehension skills of some of the dumbasses I've met in my life: "Say yes to help Levi's jeans company get 5% of 1 billion of taxpayer (that's me) money. The rest is just legal speak." = hell naw I ain't give that much money to them I don't even like those jeans.

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