The poorest billionaire in California will make about $300 million this year. If we pass the CA wealth tax, he will only make $235 million. In exchange, millions of the poorest Californians will get health insurance. That's the tradeoff billionaires are not willing to make.
Isn't Newsom now going back on that trying to make it not happen?? Nor in the future,too, iirc!
Edit: https://www.commondreams.org/news/newsom-future-wealth-tax
It's natural that billionaires don't want to make it. What's baffling is so many poor people are against the tradeoff too
They prefer to spend 600 million on propaganda to convince the dumbest half of the working class it's a bad thing.
anyone who makes 300 million dollars a year, and cries about it being reduced to 200 million, so the peasantry can be better off and work their jobs with less called time off is due to illness and situation, honestly, is someone who deserves to have all their assets seized and put to public use, and the offender left in nothing but their underwear in the middle of the arctic tundra.
A one-time tax sounds like what a billionaire would come up with to avoid a yearly 1-2% wealth tax. We waste all the political capital, things are better for a little bit and then we're back exactly where we started.
They do not care about your well being, your quality of life if even if you will survive to see another summer. They are a persistent, hostile environment threat to everyone, including themsleves.
The issue is they consider something like this to be an "opening the flood gates" scenario.
Which of course is bullshit since they don't actually pay taxes. At all.
This isn't an opening of the floodgates to more taxes for the hyperwealthy this is compliance enforcement for being part of society.
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