In a time where budgets are being cut left and right due to trumps outrageous spending and record increase to the national debt, California is doing the common sense thing. Taxing billionaires!There are only around 200 billionaires that this new 1-time temporary tax will affect. Bringing in over $100 billion in much needed tax revenue to pay for education, healthcare, and immigration services.California will tax these billionaires at 5% on their worldwide assets over $1.1 billion. This is a win-win for the state and country! Billionaires are finally paying their fair share.
>>534568273>one time taxfor what purpose though? what benefit would an entire state get out of a few hundred million to a billion dollars?
>>534568377Do billionaires finally pay their fair share…
that is like the wokest shit ive ever seen in my entire life. billionaires are not the reason your life is shitty.
>>534568273>one timeUntil the next year when the same problem exists and has gotten worse.
>>534568456One time though? I know you're memeing, but this is so fucking retarded in practice. If it actually did bring in 100b in tax revenue, the state would easily burn through that on ~10 massively inflated projects that do nothing for the average person.
>>534568273How about cutting out the fraud?
>>534568273>>534568377Its such an insignificant sum just to placate the retards who constantly scream tax the billionaires as if its an unlimited money trick, its the corporations that need to be taxed without a billion loopholes allowing them to pay nothing like amazon
>>534568273So what happens when all the billionaires leave the state?
>>534568953I think I read that this will be retroactive for the last 5 years or something
>>534568953they'll start chanting 'tax the millionaires' its the usual leftist purity spiral until its a yearly special 5% tax on everyone not a nigger
>>534569155ah, a sneaky retroactive 5 year plan. how very futuristically communist of them
>>534568953You retards always say this and it never happens lmaoTurns out it's still worth it to stay in the rich highly populated state, instead of moving to shit hole Nebraska!
>>534568273>one timelol
>>534568273I want to see this go forward only to laugh at the challenges to it.It's essentially gonna hinge on Non-Taxpayer arguments that already exist and apply to the income tax.No court is going to entertain it, in fact they cannot even seek a declaratory judgement for relief or injuction.
>>534568456>finally pay their fair share>Budget contracts next year>oops lol
