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.
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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.
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 prefer to spend 600 million on propaganda to convince the dumbest half of the working class it’s a bad thing.
They’re investing in stupid like a stock.
Nobody ever went broke betting on the stupidity of the American public.
And it’s paying dividends, unfortunately
It’s natural that billionaires don’t want to make it. What’s baffling is so many poor people are against the tradeoff too
Poor people are getting brainwashed. A lot of people are being told that free healthcare will lead to hedonism and people not taking care of their health, just like how free dental care would lead to people not brushing their teeth (paid/freemium dental care just leads to people only going to the dentist when it’s too late unless they can afford fake teeth).
hedonism and people not taking care of their health
Somehow, you’ve still described uninsured Americans pretty well
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.
Reduced to $65 million, but your point still stands. $65m is still an extravagant amount of income.
No, reduced by $65m, to $235m.
Need to be able to 5150 these psychopaths. This level of greed is a mental illness.
Its carved in stone proof of the dissolution of hte social contract.
Companies and business owners used to take care of you, because they were incentivized to do so thanks to massive taxes on wealth. So the rich would take care of their workers, invest in the social good (libraries, hospitals, etc), and put that money to use, to avoid the taxes on it.
But then the right came along with their idea of
pissing on everyone“trickle down economics”, and got rid of the high taxes on the wealthy, and the wealthy puckered up tighter than a snare drum and the flow of money downward stopped, and they all became dragons siting on vast hordes doing nothing of importance.
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
Genuine question here, probably showing my ignorance: Would a billionaire tax only in California not just encourage billionaires to leave California? To my mind, one state implementing the tax isnt good enough, or even productive if they can just go elsewhere and keep being billionaires in a broken country. It needs to be federal to be beneficial. Granted, the optics are not great, a corporate Democrat seemingly choosing rich over workers. It just seems like there’s room for nuance.
Other people didn’t mention that it’s a one time tax, vs annual tax and that makes a difference. It costs a lot of money to move and you probably rip up longtime deals you had with the past state if your moving business headquarters too.
States could be imposing an annual tax of up to 10% and most of these billionaires would still be billionaires the next year, a 5% tax is an inconvenience… but a horrible precedent (for them)
Billionaire like living in nice places. Rich people that threaten to leave almost never actually follow through on those threats, because even the nicest compound in Mississippi is still in Mississippi.
I think if CA implemented it, the hope would be other States follow suit. I think because billionaires spend their time moving between vacation homes and multiple properties, it may or may not even impact them much, if at all. The ones it does impact, they would probably have some verbiage written in there to sound good but not really have much of an actual effect. Remember, the billionaires are who donate big money to reelection campaigns, and Newsom probably lost his backbone at the right of losing his “power” and position. It’s theater, really…
So many policies already protect the billionaires class, their big businesses, and assets; and that’s by design. That’s why I (and so many others) argue there’s no “left vs right” (distraction) it’s truly class warfare.
Thanks for the reply. I don’t disagree with a single point you’ve made. The hope that it would spread to other states is predicated on success. If it isn’t successful there, it would be dead in the water everywhere else. It very much seems like the scale of the money itself has already outstripped the possibility of legislation targeting it.
The liberals cannot imagine a world where they get their overlords mad. We need a firing squad 😀
Wdym? You’ll have live executions by firing squad soon…
His Yandex data center burned down show some respect /s
Found the libtard
Sorry for your loss
I’m American, here’s proof of how my community looks. 😀😭😂😂
What a disgusting SHITHOLE COUNTRY
Sorry for your datacenter
That shit is going to backfire on them, spectacularly.
