Proposition 40, which will be on the ballot in November, would impose a one-time, 5% tax on Californiaās 200 billionaires,
These fucks will do anything to avoid paying taxesā¦
with 90% of the revenue from the proposed measure going toward the stateās health care program and 10% going toward education, food assistance, and administration. Brin, with a net worth of nearly $260 billion, could owe about $13 billion as a result of the tax.
Canāt be contributing to āsocialismā I guess? Get some of that $260 billion liquid and pay up, dickhead.
It shouldnāt be 1 time, it should apply every year
That likely isnāt sustainable, unless their wealth always grows back and exceeds the tax they paid, by the following year. Also, this sort of tax policy tends to have a negative impact on the speculation market that creates that growth in the first place.
Iām not defending billionaires here, Iām just highlighting the mathematics of doing it every year.
Iām aware, the point is to eliminate them as a class, not to make them sustainable.