In a two-page letter to California Senators and Assembly members, “Commit To Equity,” a foolish organization created by labor unions and social justice groups, demanded hefty taxes on the state’s wealthy. “We cannot overstate how urgent it is for the Legislature to act now to raise new revenue,” the letter says.
Who is “Commit to Equity?”
“Commit to Equity is a statewide campaign of frontline workers, teachers, seniors, environmentalists, and advocates for social and racial justice,” the website says.
“We demand California Legislators DISMANTLE THE SYSTEMIC INEQUALITY built into our economic system that oppresses Black and Brown people and harms our most vulnerable while the rich get richer. TAX THE RICH AND FUND INVESTMENTS TO LIFT UP OUR COMMUNITIES.”(emphasis theirs)
“People are hitting the streets to rise up against racism and injustice,” a banner on its website says.
Another page says, “Campaign Across California Launched To Demand State Leaders Craft A Budget For Justice By Taxing The Privileged.” What will that demand look like? They are demanding “the governor and state lawmakers tax the privileged to fund real systemic changes that lift up communities of color and vulnerable groups.”
While “Commit To Equity” addresses that too many Californians have been hurt by the state’s COVID-19 shutdown, instead of demanding the Governor open the state back up immediately and let people get back to jobs and businesses, they instead demand additional hefty taxes imposed on the wealthy – the job creators, the innovators, the risk takers.
The “Commit to Equity” website even lists its founding members… labor unions, grievance and race hustlers, and rent seekers:
COMMIT TO EQUITY WAS FOUNDED BY THESE ORGANIZATIONS:
- AFSCME California
- Alliance for Boys and Men of Color
- Buen Vecino
- Build Affordable Faster CA
- California Environmental Justice Alliance
- California Federation of Teachers
- California League of Conservation Voters
- California Pan-Ethnic Health Network (CPEHN)
- California Teachers Association
- California Policy Immigrant Center
- Children’s Defense Fund California
- End Child Poverty in California
- Patriotic Millionaires
- Health Access California
- PICO California
- Prevention Institute
- SEIU California
- Sierra Club California
- UDW AFSCME Local 3930
- Voices for Progress
“Commit to Equity believes that eviction prevention, opening our schools safely, restoring child care, protecting our environment, ending structural racism and, most importantly, reducing the spread of COVID are far higher priorities than protecting the wealthy’s ability to continue to expand their opulence,” the letter says.
“Commit to Equity has developed a three part strategy for raising revenue:”
- Wealth tax on billionaires: 0.4% on California residents that have a worldwide wealth of more than $30 million, or $15 million for those married filing separately
- Wealth tax on millionaires: an additional 1% tax on income over $1 million, 3% on income over $3 million and 3.5% on income over $5 million.
- Unrealized Capital Gains Tax: capital gains tax could be applied to the value of securities portfolios owned by the ultra wealthy.
Taxing unrealized Capital gains on the “value of securities” is rich: if an asset is projected to make money but you don’t cash in on that profit, it’s an unrealized gain. This could really impact not just the portfolios owned by the wealthy, but also the pension plans of many government employees.
And they want it now: “We are asking you to call for a public hearing on these revenue proposals and pass new revenue this year.”
California already has a gargantuan budget. It started in January at $222.2 billion in total state spending in the 2020-2021 fiscal year, but has been whittled down to a meager $203.3 billion in spending, because of the statewide economic crisis, triggered by Gov. Newsom’s decision to shut down the state under the guise of COVID-19.
Other states did not shut down completely, or force their small and medium businesses to close, and are not suffering under an economic crisis and recession.
There are plenty of areas to cut in the governor’s budget if the special interests which provide enough campaign contributions to win, are not rewarded with big state contracts. But having a legitimate and difficult budget discussion would bog down the grievance and race hustlers like “Commit To Equity.”
The two-page letter has four pages of signers. Take notice of the names. Google them. Commit them to memory. It does beg the question: What exactly are the 42 signers of these groups doing for their communities to improve the lives of immigrants, children, the poor, the environment, Asians, Blacks, Hispanics, union members, and the disabled?
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