A “one time tax” is pure third worldism. It’s like Chicago trying to close its deficit by selling off its parking meters. But Brin should propose an alternative tax that is sustainable.
At least I understand the "innovation and capital will leave the state" argument.
Brin says he opposes the law out of fear California will become the USSR. This is a democratic vote, on a one-time tax, that leaves private property and corporate ownership structures intact. It's a ridiculous stretch, the motives are transparent.
Zillionaires troll to avoid taxes. Research Buy-Borrow-Die clause in taxation if you can. Using that clause they hardly pay any taxes so tax laws have been hacked to allow it. They pay less in percentage than people who work for Wendy's . They naturally resort to red baiting for their own benefit. $100M to him is like $100 for other people.
I don't understand the point of a "one time" tax. What happens once the money runs out a year later? Another "one time" tax?? Why not implement a permanent tax if you want to permanently solve the problem??
If they are blocking the one time tax, would they allow for a perma one. Don't be naive. No matter what type of tax it is, they will throw money to keep the status quo. $100M is chomp change to him and he can deduct it most likely.
It's basically to send a message to a group of people that they should fuck off. There is a reasonable gamut of opinions about whether this is valid. But I think it's fair to say Californians are upset about billionaires, and that this is a coherent way to message that opposition. (Similar to the dumbfuck states messaging around wokeness or whatever. A narrowing minority of America is prosperity first.)
This really ends one of two ways. Either California's defaults on it's unfunded pension liabilities and screws a whole generation of government workers, or there's a federal bailout and people in states like Texas and Florida stop paying federal taxes.
A “one time tax” is pure third worldism. It’s like Chicago trying to close its deficit by selling off its parking meters. But Brin should propose an alternative tax that is sustainable.
CA’s spending, including Federal funds, was $183B 20 years ago, before the GFC.
Today it’s $539B. Total inflation has been about 64%, California’s population has grown by only about 10%.
California has a spending and state capacity problem, not a tax problem.
https://dof.ca.gov/media/docs/budget/historical-budget-infor...
fairly certain the sustainability problem here is the spending problem, not a taxation problem.
At least I understand the "innovation and capital will leave the state" argument.
Brin says he opposes the law out of fear California will become the USSR. This is a democratic vote, on a one-time tax, that leaves private property and corporate ownership structures intact. It's a ridiculous stretch, the motives are transparent.
Zillionaires troll to avoid taxes. Research Buy-Borrow-Die clause in taxation if you can. Using that clause they hardly pay any taxes so tax laws have been hacked to allow it. They pay less in percentage than people who work for Wendy's . They naturally resort to red baiting for their own benefit. $100M to him is like $100 for other people.
I don't understand the point of a "one time" tax. What happens once the money runs out a year later? Another "one time" tax?? Why not implement a permanent tax if you want to permanently solve the problem??
If they are blocking the one time tax, would they allow for a perma one. Don't be naive. No matter what type of tax it is, they will throw money to keep the status quo. $100M is chomp change to him and he can deduct it most likely.
But what is the point of a 1-time tax? It doesn't solve anything! It's just a slush fund for the SEIU!
They pay off some debt that has piled up. Like paying off your credit card debt.
> don't understand the point of a "one time" tax
It's basically to send a message to a group of people that they should fuck off. There is a reasonable gamut of opinions about whether this is valid. But I think it's fair to say Californians are upset about billionaires, and that this is a coherent way to message that opposition. (Similar to the dumbfuck states messaging around wokeness or whatever. A narrowing minority of America is prosperity first.)
This really ends one of two ways. Either California's defaults on it's unfunded pension liabilities and screws a whole generation of government workers, or there's a federal bailout and people in states like Texas and Florida stop paying federal taxes.
Gavin Newsom vs Gavin Belsom.
The tax is just Gavin positioning before the 2028 elections.
Even taxing 1% of wealth annually makes more sense than this.
And oh yeah, let's fund healthcare, but let's also sleep on the housing crisis and the homelessness crisis.
On the other side, Prop 41 and 42 are absolute jokes. It's like Robert California himself wrote those laws or something.
Just leave the state. California has a monoparty and nearly unlimited tax revenue, but still fails to deliver the dream state the socialists desire.