Make billionaires extinct again.
this post was submitted on 28 Dec 2025
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“The union proposes hitting Californians worth over $1 billion where it hurts most with a 5 percent tax on every dollar of their vast fortunes.”
So big tax!!
If it's a tax on holdings applied every year, 5% is significant. It's best compared with property taxes, which is another tax which works in a similar way. Property taxes are often capped at 1% of assessed value.
I'm in favor of taxing the rich, and taxing their holdings at 5% (without too many loopholes) would exceed my expectations. I expect this to get whittled down to around 1% before actually making it into law, though.
Thank you for information!
They won't go and 5% won't keep inequality from growing.
They all look so fucking weird. Please, shoo, go off to an island you little creeps
Oh look it's the false capital flight propaganda once again