Politics

11521 readers

6 users here now

In-depth political discussion from around the world; if it's a political happening, you can post it here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

Subcommunities on Beehaw:

Socialism

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 4 years ago

MODERATORS

remington@beehaw.org

alyaza@beehaw.org

TheRtRevKaiser@beehaw.org

circularfish@beehaw.org

knokelmaat@beehaw.org

California billionaire tax proposal garners enough signatures to head to ballot (www.theguardian.com)

submitted 1 month ago by Powderhorn@beehaw.org to c/politics@beehaw.org

6 comments fedilink hide all child comments

Proponents of a proposal to levy a one-time tax on California billionaires say they’ve gathered enough signatures to place the measure on the ballot in November.

The campaign says it has collected more than 1.5m signatures, according to a statement.

The proposal has ignited a political uproar in Silicon Valley, with tech titans having threatened to leave the state and the governor, Gavin Newsom, opposing the proposal.

The measure imposes a one-time 5% tax on the assets of billionaires – including stocks, art, businesses, collectibles and intellectual property – to backfill federal funding cuts to health services for lower-income people that were signed by Donald Trump last year. The tax is sponsored by the Service Employees International Union-United Healthcare Workers West, and would apply retroactively to billionaires living in the state as of 1 January.

So, a person worth exactly $1 billion would owe $50 million. How will they survive on only $950 million?

you are viewing a single comment's thread
view the rest of the comments

[–] ranandtoldthat@beehaw.org 0 points 1 month ago

If that's what you want, put together a coalition and gather the signatures.