Midway through this summer, a high-quality poll found that Democrats in California were overwhelmingly in favor of the upcoming ballot measure for a one-time 5% tax on billionaire wealth.
The ratio was more than 4 to 1. But the state’s most powerful Democrats – including the governor Gavin Newsom, his near-certain successor Xavier Becerra and the Los Angeles mayor Karen Bass – have lined up with Silicon Valley billionaires who’ve raised upward of $340m to defeat the initiative.
Should be 100% on anything over 20 billion. 50% for over 10 billion, and decreasing 10% for each 10 billion under that.
Billions is a lot.
That’s way too high. Should be 100% over 250 million
100% over 10 million. What can you actually do with more than 10 million?
I’d have to look at what the equivalent is when they taxed the shit out of millionaires back in the day, I didn’t take the time to calculate CPI and figure out what the equivalent would be to be “fair” so I just made something up that sounded close.