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MichMan

(17,577 posts)

4. Total wealth includes everything one would own

Reply to LogDog75 (Reply #3)

Thu Jun 18, 2026, 01:52 PM

12 hrs ago

Real estate, investments, businesses, art, jewelry, cars, collectibles, furniture and anything else that is property. Just how does California plan on assessing the values of all those things, without a team of assessors physically looking at all of them?

First off they have to determine the values to know who is even eligible for the tax and after that determine how much people would owe. It seems like they would have to assess all kinds of people to know who had $100 million, $500 million, or over a billion.

Why make it a one time tax that can never be assessed again? So, after this, it can't be imposed ever again, even on new billionaires?

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California Kid

5 replies

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Highlight:

California billionaire tax proposal is slated to qualify for the November ballot [View all] Omaha Steve 14 hrs ago OP

On the one hand, the tax cuts are permanent for those already winning the economy Soul_of_Wit 14 hrs ago #1

Billionaires? henbuck 14 hrs ago #2

As a Californian, I'm split on this and I could go either way LogDog75 13 hrs ago #3

Total wealth includes everything one would own MichMan 12 hrs ago #4

It's the least those greedy mf'ers can do wolfie001 11 hrs ago #5