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California

Auggie

(33,254 posts)

5. California has around 200 billionaires collectively possessing $2 trillion in wealth ...

Reply to RandySF (Original post)

Mon Apr 27, 2026, 02:01 PM

Monday

according to this link: https://oag.ca.gov/system/files/initiatives/pdfs/25-0024A1%20%28Billionaire%20Tax%20%29.pdf

The link directs to the Billionaire tax amendment written last year sent to Attorney General Rob Banta.

Quickie math: 5% tax on $2 trillion equals $100 billion dollars.

For someone lucky enough to have $1 billion dollars, 5% equals to a tax of $50 million. Pocket change, to a billionaire. They can earn that back easily enough.

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Highlight:

California's Billionaire Tax Has the Signatures [View all] RandySF Sunday OP

After this one time, it can never be imposed again? MichMan Sunday #1

What is your point? Billionaires shouldn't be taxed? Buddyzbuddy Sunday #2

Where did I say that? MichMan Sunday #3

First, I apologize MichMan, for incorrectly reading the OP. Buddyzbuddy Monday #4

California has around 200 billionaires collectively possessing $2 trillion in wealth ... Auggie Monday #5