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I have a bad feeling if goes through it will be extremely easily bypassable like every other tax the ultrawealthy are supposed to be paying
As a non-billionaire and closer to a negative-aire who has owned registered business entities costing $150...
...taxes on entity profits are super easy to bypass. Stupid easy. So I have zero confidence this will ultimately do much of anything, but I hope it maybe moves the needle slightly.
“oh m’god , being taxed at the same rate as the commoners…WHERE’S MY GREY POUPON??!!”
Not even close to the same rate.
Parasites and cry babies.
You probably find this exact comment on both sides of the dollar.
The proposed tax measure, which would require billionaires to pay a one-time tax equal to 5% of their net worth
Is one time even a tax? Why not recurring
Make it 1% and make it yearly.
Make it 10, make it yearly, and make examples of a couple of them in advance.
Fr fr
You're not thinking about the headlines. This looks like a war chest.
Recurring would be nice, but they would move away immediately.
We need to have international regulation that set a minimum wealth tax, so the billionaires can't escape it.
Until then it has to be modest like 0.5% to have a chance to work.
Citation needed.
People always say this, but I haven't seen it play out that way. That was the narrative for NY before Mamdani won as well. It was claimed the wealthy would all flee the city. And then it didn't happen. It just seems stupid that we keep defeating ourselves before we even attempt it.
Just pass actual taxes on the wealthy. If they flee, then oh well. What is anyone losing? They already weren't paying taxes. They are parasites. If parasites leave, that doesn't seem like a loss.
That was the narrative in Ma before the extra tax on income above $2M and it ended up raising even more money than predicted.
They won't move, this is where they make their money. They need us more than we need them
Right? Where are they going to go? You can't take your real estate with you. You can't pick up culture and move it.
do move on you indolent scum!
If anyone needed any more evidence that this class is totally outright malicious, know that many of them have already spent more money trying to fight this "tax" than the "tax" would've cost them.
They are literally just fucking over the working class for the love of the game.
Well yeah, it's much easier to get more work out of us for cheap when we are living hand to mouth
reparations for the working class now!
Give me my money back. Give me my money back, you bitch! I want my money back. And don't forget to give my back my black t-shirt!
Xavier Becerra already said he wouldn't sign it...
How does that matter for this ballot proposition?
EDIT: He‘s on record in opposition but there is no executive veto possibility. In other words if it passes it doesn’t need anyone’s signature to go into effect.