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California proposing 5% wealth tax on billionaires
Posted on 11/1/25 at 4:43 pm
Posted on 11/1/25 at 4:43 pm
quote:
The measure – called the "2026 Billionaire Tax Act" – seeks to counter $30 billion in potential federal funding cuts to California's Medicaid program, with a portion of the revenue earmarked for public education, according to supporters, which include the Service Employees International Union (SEIU).
First of all, there was "no federal funding cuts" the feds just stopped them from stealing the 30 billion dollars.
Second, California had more people move out of state than any other, and they were all taxpayers. This doubling down will only make it worse.
18
Posted on 11/1/25 at 4:44 pm to trinidadtiger
How can they do this without invading the taxpayer's privacy? Will every California resident be required to turn over a balance sheet to the state?
This post was edited on 11/1/25 at 6:59 pm
Posted on 11/1/25 at 4:45 pm to trinidadtiger
I think this is good because the billionaires will leave except those dickheads that use all the water to make almond milk and make the fires worse
Rfk should ban almond milk
Rfk should ban almond milk
Posted on 11/1/25 at 4:51 pm to trinidadtiger
quote:"California" is not proposing anything of the sort.
California proposing 5% wealth tax on billionaires
A couple of legislators appear to be making that proposal.
Posted on 11/1/25 at 4:58 pm to trinidadtiger
Make it 50%
The progs say they love equity taxing.
The progs say they love equity taxing.
Posted on 11/1/25 at 5:05 pm to el Gaucho
It’s not good. The trends start in California and New York & then they spew over to other states.
What really needs to happen is cutting the illegals & all the waste that is involved with the creation of this deficit.
They have hijacked the best piece of real estate in the country, arguably pound for pound in the world, just look at the GDP California creates, so many resources and potential & they’re destroying it. I love California and we, as in the whole country, needs to start taking back what they’ve stolen from us and turning it into a communist cesspool.
I’m tired of the attitudes many people have with this scenario, “they deserve it, they voted for it” blah blah blah…
Here’s a crazy thought, You ever think they’ve rigged elections in California?
Hell yeah!!!!
If you go directly south of L.A. to Tijuana border, it’s ALL MAGA and very conservative folks.
Then you go North of San Francisco and it’s Red up there as well.
And in between L.A & San Fran has sensible folks in the valleys.
They are rigging it thru L.A. mostly & San Fran as well.
They are casting votes for illegals. So I don’t think the mindset of “they voted for it” is good for the country whatsoever.
What really needs to happen is cutting the illegals & all the waste that is involved with the creation of this deficit.
They have hijacked the best piece of real estate in the country, arguably pound for pound in the world, just look at the GDP California creates, so many resources and potential & they’re destroying it. I love California and we, as in the whole country, needs to start taking back what they’ve stolen from us and turning it into a communist cesspool.
I’m tired of the attitudes many people have with this scenario, “they deserve it, they voted for it” blah blah blah…
Here’s a crazy thought, You ever think they’ve rigged elections in California?
Hell yeah!!!!
If you go directly south of L.A. to Tijuana border, it’s ALL MAGA and very conservative folks.
Then you go North of San Francisco and it’s Red up there as well.
And in between L.A & San Fran has sensible folks in the valleys.
They are rigging it thru L.A. mostly & San Fran as well.
They are casting votes for illegals. So I don’t think the mindset of “they voted for it” is good for the country whatsoever.
Posted on 11/1/25 at 5:06 pm to trinidadtiger
quote:California had the most billionaires, too.
California had more people move out of state than any other, and they were all taxpayers.
Posted on 11/1/25 at 5:12 pm to el Gaucho
quote:
I think this is good because the billionaires will leave
Willing to bet they date it back to 2020 or something equally illogical.
Posted on 11/1/25 at 5:23 pm to trinidadtiger
Im sure it will be spent judiciously like the billions of tax revenue spent on homelessness.
Posted on 11/1/25 at 5:24 pm to trinidadtiger
Not enough. Need s to be 25% minimum.
Posted on 11/1/25 at 5:35 pm to trinidadtiger
No billionaire so stupid enough to show a billion dollar paycheck.
The Democrat politician know this, but their voting base is too stupid to realize it’s just a tool to use to keep their vote.
Implement the tax and I’d be willing to bet there is no change at all in tax revenue. In fact it might drop lower from rich people continuing to flee to Texas, Montana, Wyoming, etc…
The Democrat politician know this, but their voting base is too stupid to realize it’s just a tool to use to keep their vote.
Implement the tax and I’d be willing to bet there is no change at all in tax revenue. In fact it might drop lower from rich people continuing to flee to Texas, Montana, Wyoming, etc…
Posted on 11/1/25 at 5:36 pm to RelentlessAnalysis
quote:
"California" is not proposing anything of the sort.
A couple of legislators appear to be making that proposal.
You dont read your posts beforehand do you
Posted on 11/1/25 at 5:40 pm to Narax
quote:
Willing to bet they date it back to 2020 or something equally illogical.
Wasnt it California who tried to tax you even if you left the state, or some nonsense.
Posted on 11/1/25 at 5:47 pm to trinidadtiger
Palmer Lucky about to move....
Posted on 11/1/25 at 6:07 pm to trinidadtiger
More will flee to Texas and this is by design. The dems want to flip Texas and forever own the electoral.college
Posted on 11/1/25 at 6:29 pm to trinidadtiger
quote:
Wasnt it California who tried to tax you even if you left the state, or some nonsense.
Yup that was them.
Neo-Confederates.
Posted on 11/1/25 at 6:33 pm to trinidadtiger
quote:
Wasnt it California who tried to tax you even if you left the state, or some nonsense.
That sounds illegal
What would stop them from taxing anyone that has ever lived there.
Posted on 11/1/25 at 6:49 pm to trinidadtiger
quote:
California proposing 5% wealth tax on billionaires
Great. That means more elite liberal billionaires will be relocating to Texas and Florida and bringing their voting habits and influence with them.
Posted on 11/1/25 at 7:35 pm to RelentlessAnalysis
quote:
"California" is not proposing anything of the sort.
A couple of legislators appear to be making that proposal.
That's what proposed legislation is.
Posted on 11/1/25 at 7:40 pm to el Gaucho
quote:
except those dickheads that use all the water to make almond milk and make the fires worse Rfk should ban almond milk
God damn Almond milk!
But what about them cow farts
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