How stupid is the Dimocratic Party before the mid-term elections?
They claim it is a one-time tax measure! What a joke and what a deception!
History is full of examples that such special taxes aimed at super rich individuals are doomed to fail. Voting by feet, tax havens are just some examples. Successful expert tax advisors are standing by.
Oh, Governor Gavin Newsom wants a national wealth tax instead. What a clever guy he is! Hopefully, this will dash any prospects he ever becomes a US President!
Caveat: I am not familiar with the details of this proposition!
"The California Democratic Party convened its executive board this past weekend in San Diego to vote on endorsing or opposing the 14 ballot measures that will be decided in the November general election.
The most notable endorsement was for Proposition 40, a one-time tax on billionaires that has now divided the party from the highest-profile Democrats in the state. Gov. Gavin Newsom and gubernatorial candidate Xavier Becerra have expressed opposition to this proposition. ...
Newsom posted on Substack in June that a state-level tax is the wrong approach to taxing billionaires, and called for a national wealth tax instead. ..."
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