It’s great news: A ballot measure that would give California billionaires a five percent one-time tax on all their wealth has just become eligible to appear on the November 3 ballot. new York Times Informed.
Yes, voters, most of whom are not billionaires, will decide the issue.
This is glorious, and all civilized people should hope that this incredibly destructive measure will pass and give rise to further measures with similar destructive powers.
Just the threat of this legal theft will drive billionaires out of California. Surely, this time, it may not come to pass. This time, failed Democrat Governor Gavin Newsom may be able to convince the bill’s sponsors, SEIU-UHW (Service Employees International Union – United Healthcare Workers West), to cut some kind of deal and put it on the ballot.
It doesn’t matter.
Even if it doesn’t pass this time, the idea behind this measure, not to mention the fact that it’s very close to becoming a reality, will hang like a threat over everyone’s heads. This threat (which is quite real) ensures that more and more billionaires will flee to free states like Florida and Texas.
Governor Gavin Newsom (D) speaks about his state budget proposal on Thursday, May 14, 2026, in Sacramento, California. (Jeff Chiu/AP)
And it won’t be just billionaires who will feel threatened. Everyone knows how the left works. went away from the left just as fast gays just want to get married – To – If you don’t let us transfer your kids you are a bigotThis billionaire tax will become a millionaire tax and then anyone foolish enough to own any kind of asset like a car or a house will be taxed.
“The initiative would impose a one-time, 5 percent tax of at least $1.1 billion on the wealth of California residents and dedicate most of the revenue to health care,” the far-left report said. new York Times. “Those with between $1 billion and $1.1 billion will pay a lower percentage.”
“If the measure moves forward, it will certainly lead to a costly election battle in California,” the report said. “It would pit the economic concerns of working-class Californians against those of some of the state’s wealthiest residents and business leaders, who say such a tax would threaten California’s long-term dominance in technological innovation.”
Some Democrats oppose it, but only because — get this — “it would devote the overwhelming majority of revenue to health care rather than education or social services.”
It seems to me that we need another round of ballot measures to ensure California’s billionaires pay their fair share for “education and social services.”
The sooner California is destroyed, the sooner sanity can possibly—possibly—return to the former Golden State. I doubt anything, even in a fentanyl-fueled poptopia, can save the state, but this is the only chance. Despite this, there will certainly be no improvement, no understanding, and no liberation as it is now.
Plus, for us normal folks, it’s all kinds of fun to see Californians get what they voted for. People should get what they vote for. Why shouldn’t we all be happy for them and enjoy the results?
