By Bob Walsh
I heard a really interesting bit on the radio today about the proposed California Billionaires Tax.
This
proposal, assuming it takes place (which is far from a sure thing)
would constitute a wealth tax, not an income tax, levied on all persons
having $1 billion in net assets. That would in theory be a one-time tax
of 5%.
How does the
government KNOW if you are a billionaire. That is simple. They audit
you. All of your property. ALL of your property. You have a collector
car? Zing. You have some nice jewelry your grandmother left you?
Zing. Some stocks your aunt Lucy left your late first spouse that you
inherited? Zing. To make this work the government has to know about
EVERYTHING that you own. EVERYTHING.
Will
this remain with those evil bastard billionaires? If you really
believe that you are stupid enough to be an elected official in
California.
Zing. Zing. Zing.
EDITOR'S NOTE: A 5% tax on billionaires? Not a bad idea. That will still allow billionaires to have multiple palatial-residences and a mega-yacht. Bob, you're zinging too much.
2 comments:
I have a close friend that grew up in Carlsbad, California. He attended Berkeley and was a long haired hippie. He got a degree in psychology. He couldn't get a good job in his field. He married a Coastie and they moved to Texas. They bought a home at half the price of what they sold their shack for in California. He became a cop. Yet, when I talk to him he still believes stupid California shit. Like this idea.
Yeah, but they might have them someplace else. What's to say that the "one time" tax won't come around every five years, then every three years, then come down to people who are NOT billionaires? CA does not have an income problem. The income increase to the state has regularly exceeded the increases of inflation. The state has a SPENDING problem.
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