Tag: wealth tax
California Wealth Tax Proposed in Constitutional Amendment
On March 22, Assembly Members Alex Lee, Wendy Carrillo, Lorena Gonzalez, Miguel Santiago, Ash Kalra, Luz Rivas, and Mark Stone introduced Assembly Constitutional Amendment 8 to propose a wealth tax to be placed before the voters. Officially, ACA 8 is...
California’s General Fund Relies on the Super Rich and Federal Bailouts
One of the biggest reasons California’s technology moguls supported the Biden/Harris candidacy had nothing to do with ideology. It had to do with their pocketbooks. Because with a Californian presiding over the Senate, and a Californian Speaker of the House,...
Jeffrey Gundlach, Other Wealthy Californians Threaten To Leave California If Wealth Tax Is Passed
During the weekend, a new round of wealthy Californians, including Billionaire Jeffrey Gundlach, threatened to leave California should the new proposed wealth tax be passed, putting pressure on lawmakers who hope to pass the proposed bill next session. Wealth tax...
Sex and Taxes: Legislators’ Annual Preoccupation
“Tis impossible to be sure of any thing but Death and Taxes,” the popular idiom says. But in California it is more accurate to say “sex and taxes.” With California in dire financial straits having been locked down since March,...
‘Time Stealing’ Regulations for ‘The Wealth Tax’
Can you imagine having to do an inventory and net worth calculation every year? Let alone potentially being audited and having to prove that values were not intentionally understated? It’s not only financial robbery, it’s time theft! – Senator John...
California Dems’ Wealth Tax Follows People Who Move Out of the State
Assemblyman Rob Bonta (D-Oakland) made an appearance on “Cavuto: Coast to Coast” Friday to discuss his Wealth Tax proposal. Bonta told Cavuto the tax “affects about 0.15% of the California population — not the top 10%, not the top 1%,...