Billionaires abound in California. Why not tax their wealth?

H

Hume

Verified User
Sept 20 (Reuters) - No state may be a more natural fit for a tax on billionaires than California. The state leans left politically, needs funds for healthcare and is home to as many as 250 billionaires collectively worth upwards of $2 trillion.
But the November 3 ballot initiative Proposition 40, which asks Californians whether to impose a ‌one-time 5% tax on the state's billionaires, is far from certain to pass, political analysts say, amid a debate that has raised questions about income inequality and the state's future business prospects.

 
People like Hume actually believe that THEY are entitled to someone elses money. Think about it........Do they want THE STATE to just TAKE someone's money and then just sit on it? LOL No, of course they don't. They want the state to take someone elses money and give part of it to them personally in some form of benefit that they want but aren't currently receiving. Its legalized theft thru the force of Government.
 
Stone said:
People like Hume actually believe that THEY are entitled to someone elses money.
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Yeah, unlike the captains of industry like Elon Musk who doesn't take a SINGLE DIME OF ANY PUBLIC MONEY for his businesses! He's a MAKER not a TAKER.

Unless you count the fact that he raked in over $30 Billion in government subsidies, contracts and tax credits over the last couple years.

Stone said:
Think about it........Do they want THE STATE to just TAKE someone's money and then just sit on it? LOL No, of course they don't. They want the state to take someone elses money and give part of it to them personally in some form of benefit that they want but aren't currently receiving. Its legalized theft thru the force of Government.
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IF only more Americans were like the Trump family. When they needed some extra cash they fleeced a children's cancer charity. Now that's some good money management. Once again MAKERS not TAKERS. Unless you count taking from a children's cancer charity to be "taking".
 
murph63 said:
Yeah, unlike the captains of industry like Elon Musk who doesn't take a SINGLE DIME OF ANY PUBLIC MONEY for his businesses! He's a MAKER not a TAKER.

Unless you count the fact that he raked in over $30 Billion in government subsidies, contracts and tax credits over the last couple years.



IF only more Americans were like the Trump family. When they needed some extra cash they fleeced a children's cancer charity. Now that's some good money management. Once again MAKERS not TAKERS. Unless you count taking from a children's cancer charity to be "taking".
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LMAO!!!!!! Gee,....I wonder why Democrat lawmakers CHOSE not to change all these LEGAL processes throughout the DECADES when they were in power and could have done so? :rolleyes::rolleyes::ROFLMAO:
 
Stone said:
Then what do you want the state to do with the money they forcibly took?
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"Billionaires are no longer very popular," said University of California, Berkeley economics professor Emmanuel Saez, a researcher of wealth inequality who helped write Proposition 40. They have "enormous wealth, enormous power."
Saez describes the proposal as very simply "a tax on billionaires to fund healthcare."

 
"Following Hillary Clinton’s defeat in the 2016 presidential election, the Bill, Hillary and Chelsea Clinton Foundation saw a severe drop in funding, with contributions and grants plummeting by nearly 58% in the first year alone and ultimately dropping by roughly 75% to 88% from its peak years.
New York Post +3

The financial decline can be broken down by the numbers reported in federal tax filings:


Year-over-Year Drop (2016 vs. 2017)
  • The Immediate Plunge: Direct contributions to the Clinton Foundation fell from $62.9 million in 2016 down to $26.5 million in 2017 (a 57.8% decrease).
    New York Post

  • Broader Contributions & Grants: When looking at total broader grants and peak metrics, some financial reports noted an even steeper 88% drop from a 2016 total of $216 million down to that same $26.5 million in 2017.
    Investor's Business Daily +1

Long-Term Decline
  • The 75% Drop: According to tax disclosures tracked by Axios, donations eventually bottomed out at just $16 million in 2020. This represented a near 75% decrease from the foundation's peak years when Hillary Clinton was running for office.
    Orange County Register +1

  • Personal Revenue: The Clintons' joint speaking fees also fell off a cliff, dropping from a peak of $3.6 million in 2015 down to under $300,000 by 2017.
    New York Post


Gee,......I cant imagine WHY? :rolleyes: Hey!!!! I know!!!! Maybe JUST SUDDENLY out of the blue wealthy people just all of a sudden started not giving a shit about starving kids in Africa anymore! Anyone here think THATS the reason? Yeah,....ME NEITHER.

:magagrin:
 
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Stone said:
LMAO!!!!!! Gee,....I wonder why Democrat lawmakers CHOSE not to change all these LEGAL processes throughout the DECADES when they were in power and could have done so? :rolleyes::rolleyes::ROFLMAO:
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Hey, noted how you can't defend your heroes when it is shown they are suckin' on Uncle Sam's dick just as hard as the worst welfare queen of your fever dreams.

LOL.

Musk is the biggest whore for the public dollar you'll ever meet. YOUR MONEY Makes him rich. And you just give it to him. LOL.
 
Hume said:
Sept 20 (Reuters) - No state may be a more natural fit for a tax on billionaires than California. The state leans left politically, needs funds for healthcare and is home to as many as 250 billionaires collectively worth upwards of $2 trillion.
But the November 3 ballot initiative Proposition 40, which asks Californians whether to impose a ‌one-time 5% tax on the state's billionaires, is far from certain to pass, political analysts say, amid a debate that has raised questions about income inequality and the state's future business prospects.

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The reason that wealth is not taxed fairly, is because the billionaires have got the elected officials in their pockets; in this country we have got corruption and it's legal.

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