@fox.la: Should California tax its billionaires? 💰 ⠀ Prop 40 would place a one-time 5% wealth tax on billionaires who lived in California as of Jan. 1, 2026.

user3088509227746 :

Try this for some facts

Aghunter :

it should be PERMANENT. 😳😳

Too johnny :

Move out

Franklin Green :

Franklin Green :

Franklin Green :

TravelingLifeGirl :

Government corruption will use up most of the money[Like]

Franklin Green :

Proposition 40 Hidden Tax Loophole

𝓚𝓪𝓽𝓮𝓻𝓲𝓷𝓪 𝓒𝓪𝓷𝓸 :

👍👍👍

Franklin Green :

The top 5% of income earners in California pay approximately 65% to 70% of the state's total personal income taxes. Because of California’s highly progressive tax structure—where individual income tax brackets range up to 13.3%—the state's revenue relies heavily on its highest earners. For broader context: • The top 1% alone pays roughly 40% to 45% of all state personal income taxes. • The top 2% pays about 50% of the state's income taxes. • The top 10% accounts for roughly 75% of the state's total personal income tax revenue.