Karl Emmrich
Region: US
Friday 06 November 2026 23:16:16 GMT
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Faustian :
Did you even read the proposition? The entire point was to help California absorb the massive budget shortfall Trump’s Big Beautiful Bill is creating through federal healthcare cuts. We’re talking about billions in lost Medicaid funding that California will have to make up for or risk devastating its healthcare system. The billionaire tax was designed primarily to help cushion that financial blow, with additional funding for food assistance and education. This wasn’t some random attempt to raise taxes. It was a response to a federal funding crisis.
2026-11-07 00:39:15
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Nobody :
why would they say no
2026-11-06 23:38:45
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Faustian :
I didn’t realize California had 4 million billionaires. People are terrified of taxing billionaires as though they’re personally about to lose their homes. We’re talking about people worth billions, often tens of billions. A one-time 5% wealth tax doesn’t suddenly make them poor, stop them from running businesses, or eliminate their access to extraordinary wealth. And where exactly are they all fleeing? Another major city with its own taxes, expenses, and regulations? Billionaires want access to culture, talent, infrastructure, and the markets that helped create their fortunes. Even if some leave, California doesn’t suddenly stop functioning. Capital, businesses, and opportunities don’t belong exclusively to a handful of billionaires. The absurdity is watching ordinary people defend unimaginable concentrations of wealth because they’ve been convinced that taxing billionaires somehow means they’re next.
2026-11-07 00:05:08
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incelrightoid :
Surprising
2026-11-06 23:46:13
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