We shouldn't scalp the billionaires, say two authors in a guest essay for The New York Times of all places today. We should scalp THE MILLIONAIRES!
Looking at the top 0.0001%whatever is the wrong tax problem to be looking at, LOOK AT THE HUNDREDS OF THOUSANDS OF EVERYDAY MILLIONAIRES.
As despicable as this idea is, at least it'd be fucking some boomers so that makes Den happy.
"At the end of 2025, California’s billionaires were worth around $2 trillion. That’s a big number, but it withers when compared to the other pools of great wealth in the state."
Like everyone else, billionaires should pay their fair share. Prop 40, however, addresses only a sliver of the unfairness in our tax system. Fixating on this tiny group of people misses the forest of wealth in the Golden State for a few redwoods in Silicon Valley. We estimate that the state is home to about 450,000 households that own a private business and have at least $5 million in wealth.
The Californians in this group are collectively worth about $9 trillion, nearly five times as much as the billionaires. They generally are subject to higher tax rates than the tech billionaires, but everywhere millionaires still benefit from loopholes that favor their income over that of a highly paid salary earner
Yeah ok, sure.
Wary of relying on polymarket as a reference rate since I got so screwed on Brazil, which seemed like a slam-dunk to me (#1602534)
From an LA Times article today:
California voters are souring on a Nov. 3 ballot measure to impose a one-time tax on billionaires to help fund healthcare programs, a proposal that has triggered one of the most expensive political battles in state history. Half of likely voters plan to vote against Proposition 40, the proposed wealth tax on billionaires’ assets, while 42% support it, according to a new poll by UC Berkeley’s Institute of Governmental Studies that was co-sponsored by the Los Angeles Times.
The findings are similar to a Public Policy Institute of California poll released Tuesday, which found 52% of likely voters would vote against Proposition 40, while 46% supported it.
Imma go bet, because that's what we do in these degenerate, black-pilled times!! #1604775
I filled out my ballot yesterday. Voted against this. Haven't sent the ballot in yet, though. Hope it survives the ballot counting shenanigans.
It would be better for our profession if this experiment went through.
I'll only support it if we agree to randomly apply it to a handful of states
surely there aren't billionaires in every state?
Forbes says there are 989 billionaires in America... and that most states have one or 0 bills there
I'm pretty confident that several states have 0, like Alaska, Vermont, Wyoming.
Californians just want to redistribute the wealth to other states. How thoughtful of them.
Don’t make perfect the enemy of good.
LOL
thank you for your service