US EditionRally in San Francisco Surrounding State's Proposed Billionaire Tax Comes with Controversy
About a dozen supporters marched to oppose a proposed one-time 5% tax on billionaires, who hold $2.2 trillion in wealth, while counterprotests highlighted concerns about income inequality.
- In San Francisco on Saturday, about a dozen people marched at the San Francisco Civic Center, organizer Derik Kauffman said it was a sincere protest against a potential new tax.
- The Billionaire Tax Act would levy a one-time 5% tax on billionaires' net worth to offset federal cuts, and Service Employees International Union-United Healthcare Workers West needs about 875,000 signatures by June 24.
- A few dozen satirical counterprotesters, including Razelle Swimmer, mocked billionaires as Oli Garch and Trilly O'Naire while Swimmer said `I wanted to match their absurdity with my absurdity`.
- The Legislative Analyst's Office warned the measure's benefits may be short-lived and said some billionaires would likely leave California, while opponents including Gov. Gavin Newsom argue departures could reduce income-tax revenue by hundreds of millions of dollars per year.
- California, home to roughly 200 billionaires with $2.2 trillion in wealth, faces outmigration risks as research shows billionaires paid only 24% of income in taxes in 2018-20.
15 Articles
15 Articles
San Francisco sees a weird and very real protest against California’s new Wealth Tax: “March for Billionaires”
The fight against California’s proposed ‘Billionaire’s Tax’ just hit a new level of strange, because San Francisco just saw a “March for Billionaires”. When news of the event first surfaced, complete with the pithy tagline, “Vilifying billionaires is popular. Losing them is expensive,” most people, including many online, assumed it had to be a bizarre piece of satire. Honestly, who wouldn’t think that? As one social media user noted, “this is a …
Billionaires are fleeing California for Nevada — and not for the nightlife
Nevada is receiving an influx of wealth due to Californians fleeing the state.Michael H/Getty ImagesBillionaires are planting roots in Nevada amid fears of a California wealth tax.Nevada, with its generous tax advantages, is welcoming the ultrawealthy with open arms.The influx of wealthy people is rapidly changing the state's luxury market.The most expensive condo sale in the Las Vegas area closed in early January for $21 million. If the sale of…
‘Pro-Billionaire’ March Unintentionally Inspires Creative and Hilarious Counter-Protest
A few dozen supporters showed up for Saturday’s decidedly unironic “March for Billionaires” protest, which was evenly matched by several members of the press and a group of activists one-upping the sympathizers with a satirical “March for Trillionaires” rally.As Mission Local reports, a small contingent of billionaire supporters, who claim they’re not actually billionaires themselves, held a “March for Billionaires” protest at Alta Plaza Park in…
Rally in San Francisco surrounding state's proposed billionaire tax comes with controversy
In San Francisco on Saturday, a small group gathered for a city hall march to offer their support for billionaires. It drew a crowd of media and opponents and quickly became a spectacle that focused more on satire than substance.
Yes, there really was a ‘March for Billionaires’ rally in San Francisco
SAN FRANCISCO — As California struggles with homelessness and healthcare cuts, some activists are taking on an unexpected cause: fighting for billionaires. About a dozen people took part in the “March for Billionaires” on Saturday morning in San Francisco to raise awareness about the plight of the ultrarich. Although some assumed the event was satire, organizer Derik Kauffman said it was a sincere protest against a potential new tax on the state…
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