The bill would ask voters next year to impose an estate tax of a size equal to what was loosened in 2017 by President Trump and Republicans in Congress as part of
“A California estate tax benefits low-income families by helping them build wealth and end the cycle of intergenerational poverty,” state Sen. Scott Wiener said in a written statement.. That effort came before the president and GOP congressional leaders pushed to loosen the federal estate tax — which now kicks in only on estates worth more than $11.4 million for individuals and $22.8 million for a married couple.
Except that the money will NEVER go to low income families. They will use to cover their under funded pension plans.
And the rich gonna go away to other states... and then who we gonna tax next Ask New York
Better yet, let’s make it a federal tax and collect 1 trillion dollars for the poor and needy.
What happened to the $200,000,000.00 voters voted on here in LA for homeless?
Right.... more money to support their sanctuary state and help illegals. How about you kick them all out and then take care of American low income families first
Hell no!
“Eat the rich”......
Let’s see just how they support all of these left policies when it starts to take money out of their pocket
If you want to nail the 1% to the wall, don’t wait for them to die. Quit working for them and taking their paychecks from the jobs they provide.They can’t make money without labor. Force the 1% to pay now by holding out for more. It’s a short term sacrifice for a better future.
GUARANTEED that after the exodus and asset transfer OUT OF CALIFORNIA, that the net effect will be a reduction in tax revenues. Sacramento stupidity! Liberal Spreadsheet Delusion.
New concern: - we pass this state tax - the federal tax law is repealed/replaced - we deduct all SALT - then fed revenue won't return to 'normal' without additional changes. - if Cali passes the new tax, then repeals it once federal law changes again, then what was the point?
...sounds like socialism...
Right. This new tax will go where all the other taxes have gone - into the paychecks of more bureaucrats.
Because we make over a 6 figure income I should support illegals or others that don’t want to work. Nope not going to happen!
Wealthy people are not given their wealth, they work hard for it. They shouldn’t have to subsidize the lazy.
That would be so great. We could then see how many of Hollywood’s social brain trust and Silicon Valleys wealthy will still claim residence in state. My guess is that many will find new homes elsewhere & the -$1bn est will fall short.
More taxes in Cali?lol
End up like New York with residents and businesses leaving
No more taxes.
With all the voters who won’t likely ever be affected by the tax, the legislators can claim it was the desire of the public, & avoid responsibility for all the negative blowback. Lousy cowards.
To support who? This new Governor is already allocating millions to help illegal immigrants at the border at whoes cost?
jeez considering the fact that 90% of California is in poverty …. wonder how that vote will go
We have.$17 Billion excess. How much more taxes will they take? Every wealthy person will move. They don’t have to live here. Wealthy people just buy homes in other states that have lower taxes. This is ridiculous.
Take all their money.
I’m damn sure not 1% and those tax cuts puts extra money in my families hands
socialism
Or you could build a nice wall.
Take $1B from families who created wealth. Give $113 to 8.8million people in poverty. That $113 of course then is reduced by the State bureaucracy ‘handling fee’. Stupid. Again.
Hollywood will love that lol
Holy hell why would anyone successful want to live in the shit hole of Cali
Yes! Raise the estate tax!
ENOUGH TAXES ALREADY. SEND ALL THE ILLEGALS BACK AND BUILD THE WALL! WON'T NEED ANY NEW TAXES THEN............SIMPLE!
Democrats has been manipulate votes, so what's the point of any upcoming 'votes'.
Ya, like the rich will stick around for this.
Maybe instead you got multinationals to pay their fair share or taxes then hit the 1% rich people everyone would be happy
Oh hell yeah
Robbing the rightful heirs....
What is the point of propositions if the governor just ignores what we vote for?
This state is stupid...
But we can’t get the death penalty that we voted for and won. Just more proof California is the worst run State in the Union.
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