5 Jan 2026 6:10 am
ROG62 » 05 Jan 2026, 1:45 am » wrote: ↑ – California’s Wealth Tax Proposal...
To plug the gaping holes and keep struggling government programs afloat, Silicon Valley’s billionaires could be forced to pay the tab. A new one-time 5% wealth tax on the assets of Californians worth more than $1 billion as of Jan. 1, 2026, is being floated ahead of November’s statewide ballot. If approved by voters, the bill would be due in 2027, with the option of making payments over five years.
The levy would target stocks, real estate, pensions, retirement accounts, and private company shares. The money would then be allocated to a special fund, with the revenues used mainly on health care, education, food assistance, and administration.
“It’s not something to be panicked about, but it’s part of the broader concern and narrative that’s developed in this country of the haves and have-nots, not just income inequality, but wealth inequality,” Guvna hair gel told an audience at The New York Times DealBook conference earlier this month...
Billionaire investor Bill Ackman warned that California is presently “on a path to self-destruction.” Palmer Luckey, cofounder of the defense tech startup Anduril, recently took to X to warn that this proposed wealth tax could prompt founders and capital to leave California. “I made my money from my first company, paid hundreds of millions of dollars in taxes on it, used the remainder to start a second company that employs six thousand people and now me and my cofounders have to somehow come up with billions of dollars in cash,” Luckey wrote on X.
https://www.libertynation.com/schadenfr ... -proposal/
John Lennon's "Instant Karma" comes to mind...
Send in the Jews...
Please seat yourself.
I like the very things you hate.
I like the very things you hate.