A proposed first-of-its kind tax would target California's nearly 250 billionaires in an effort to fund health care. If voters pass it, will the state's economy suffer?
51 reposts328 likes
A proposed first-of-its kind tax would target California's nearly 250 billionaires in an effort to fund health care. If voters pass it, will the state's economy suffer?
51 reposts328 likes
A clarification @npr.org on "1% of the state's residents pay nearly 50% of all personal income taxes." That's 1% of *filers* not residents. Also, it would be useful context to provide the amount of wealth concentrated in that 1% so that the reader could better gauge the relative fairness.
That's only "income taxes" and doesn't include payroll taxes that fund Social Security and Medicare, and other good stuff. Now compare the total tax rate paid by those 250 billionaires against the average taxpayer. www.google.com/amp/s/www.cb...
No. They never actually leave, because where will they go to? They love the amenities California and other blue states have to offer. They love the mansions, the ocean access, the airports, the restaurants, the salons, the luxury stores. They also have family and business connections they would lose
Piecemeal reform won't work. we need comprehensive reform