Billionaires have already paid us back. So why does California want more?
Proposition 40 supporters and opponents clash over whether a 5% wealth tax on billionaires would effectively fund state services or prove inefficient.
8 Articles
8 Articles
In parallel with the Congressional elections, California is voting on the introduction of a billionaire levy. Thus, an initiative wants to collect 100 billion dollars for the state. However, those affected are fighting back with a large-scale campaign.
The billionaires are said to deliver five percent of their net assets once, but the rich resist - by using massive money.
Up to 255 billionaires live in California. They are said to deliver five percent of their assets once, but even among Democrats, the initiative is controversial.
California Proposition 40: The Case Against Wealth Taxes.
(ThyBlackMan.com) No matter what happens in Tuesday’s elections, support for wealth taxes keeps growing. Its justification is based on the idea that the very rich owe all of us something, and taxing their fortunes is collecting on that debt. We’re told their success fuels inequality and that it’s selfish of them to keep so much, […]
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