Proposition 40, which will be on the ballot in November, would impose a one-time, 5% tax on California’s 200 billionaires,
These fucks will do anything to avoid paying taxes…
with 90% of the revenue from the proposed measure going toward the state’s health care program and 10% going toward education, food assistance, and administration. Brin, with a net worth of nearly $260 billion, could owe about $13 billion as a result of the tax.
Can’t be contributing to “socialism” I guess? Get some of that $260 billion liquid and pay up, dickhead.
God I fucking hate the rich. He’s spending thousands of times my yearly pay just to avoid paying less in taxes than I do
Pay your taxes, you fucking parasite.
I know some public schools (about 10 thousand) that could use a piece of that $13 billion, if we can manage not to waste it on the popo
Bring back pre-Reagan tax rates on the rich.
Those 1950s glory days that Republicans keep harkening back to involved Ike, a Republican president, taxing the wealthy like 52% (fake viral posts say 90%).
Is it fake viral posts, or just people not understanding how marginal tax rates work or how they differ from your effective tax rate again? The highest tax rate did cross over 90% at the tail end of WWII, but very few people actually had to pay taxes at that rate, and even then, their effective tax rate would have been much lower.
Edit: Just to illustrate, this site has historical tax rates for the period in question. For the sake of simplifying then math, I’m doing this assuming you only paid 3% income tax on income up to $100,000/year, and 94% on earnings above that with the surtax. Source for the income numbers is straight out of my ass, but it doesn’t really matter, as it’s only to illustrate the point. So, say that year, you managed to make $110,000. You would pay 3% on your first $100,000 in taxable income, and 94% on the remaining $10,000 you earned above that, making your effective rate 11.27% across your whole income, with a tax liability of $12,400. You can have both lower effective tax rates and higher marginal tax rates for your highest earners without either one negating the truth of the other.
It’s just 5% of his wealth. Most people give anything from 20% to 50% of their annual income to taxes and will pay income taxes on all their retirement savings when they pull it.
The math is always easy on these things - the millions paid to fight progress is always a fraction of what they expect to lose if it passes, making it simple to know why they oppose these changes instead of the nonsense propaganda they spread.
Another rich tax cheat parasite like Zuckerberg and Musk.
We need to make readily available MANPAD blueprints using easily obtained materials.
There is no private jet that shouldn’t be shot out of the sky. You don’t need billions to make rich people live in fear. You just need labor.
There is plenty of millionaires that want to be taxed more, billionaire wealth hoarders are psychopaths though
Plenty will say whatever is popular, then donate to candidates who do the exact opposite.
Millionaires aren’t really contributing, it would cost them more than what it’s worth, unless you are working towards billionaire level wealth
They don’t want to pay because most net worth over a couple hundred million is straight up made up. He couldn’t get 13billion liquid if he tried nor could most billionaires.
I wonder if he’s tried not ordering avocado toast and making coffee at home
Exactly. Because that money does not actually exist anywhere other than in their imaginations.
Still, fuck ‘em. Just like they’ve been fucking the rest of us for decades.
Sounds like a skill issue to me.
should make the tax every year. not just 1 yr
This is why there should be no billionaires.
That 5% return on 260. He’ll never know it’s gone.
A billion here. A billion there. Pretty soon, you’re talking about a lot of money.
The dirty truth is that it’s far cheaper to bribe officials not to tax you then it is to pay taxes.
It’s California. He won’t lose while Gavin Newsom and his friends are in power.
let’s make him own 1300 Billion.
Unfortunately, based on the polling, it sounds like it’s been working. Fuck this stupid wealth worshipping culture.
