Gavin Newsom is definitely going to for president.
And this is what he’s doing to build his campaign- criminalizing homelessness, building alliances with far right speakers, vocally expressing his concerns about trans people, and making sure that the ownership class knows that he’s on their side.
Cant fucking wait to vote for the Democrat’s Newsom/Cheney ticket in 2028.
The amendment defines Retirement holdings, individually-owned assets, and other forms of personal savings to include “pensions; retirement accounts, including but not limited to 401 (k) accounts, 403(b) accounts, and all other individual retirement accounts; mutual funds; and all personal property, whether tangible or intangible, including but not limited to financial assets, investment accounts, business interests, digital assets, intellectual property, personal belongings, and other assets used to produce or collect income or savings for retirement or financial planning.”[1]
The initiative contains a competing measures provision stating that, if this initiative receives more votes than the competing measure, it would prevail in its entirety over any other measures on the 2026 ballot related to taxing personal assets.[1]
So it’s outlawing taxes on any form of property. Yep, the prop name about retirement accounts and format is totally a lie to prevent a billionaire tax.
Good! When I open my “Torch and Pitchfork Emporium” they won’t be able to tax me while I am helping the citizens bring about their downfall! /s
I don’t care where the money goes. I would vote for it if all it did was light billionaire cash on fire.
I would vote for it if all it did was light billionaires
cashon fire.
Watch out for this one, as well. This is a potential proposition which claims to be protecting your retirement savings. In actuality, it exists to protect the assets of the wealthy.
Oh that’s fucking shady. It opens with retirement but you read more and it’s basically saying you can’t tax anyone who owns anything, including things like business or stocks.
Ugh I bet it passes, props are a mistake when the population is so ill informed.
Yeah, I think this would cancel out the billionaire tax.
Billionaires will keep doing whatever they want as long as they never face consequences. Seems like the people are going to have to take inflicting consequences into our own hands.
Well, the upper class left us no choice, so fuck em as hard as they fucked all those little kiddies!
I agree and I wish a critical mass of others agreed.
Too many people think voting and diplomacy will solve things.
We are too far gone for that.
IF we had gone too far the GOP wouldn’t be spending hand over fist to keep people from voting. The dems wouldnt need to pressure a union leader to drop a wealth tax if we were too far it would just be dropped.
And thats just it. Waiting for this critical mass in north america seems like it will just never actually happen.
Our countrymen are fucking cowards and it angers me.
Truly a man of the people!
When the income tax started, it was supposed to only apply to the wealthy. Roughly 100 years later, Warren Buffet infamously said that he paid a lower tax rate than his secretary. So much for that.
There’s very little reason to believe a wealth tax would be any different.
The first income tax was 3% on income over $800, or about $28k today. That isn’t a tax on only the wealthy.
That’s the civil war tax. The accuracy of today’s government inflation statistics are contested, for example see ShadowStats as an alternative (although it doesn’t go back to the civil war). Per the St. Louis Federal Reserve, the average hourly pay rate was $0.098 per hour in 1860. Assuming 40 hours of work a week and 52 weeks per year, that equates to about $200 per year, which means $800 was four times average yearly wages.
Today’s average yearly wage is somewhere around $60,000 per year. Multiply that by 4 and you’re at $240,000. I’m not sure I’d characterize that as rich, but it’s certainly upper middle class.
My point is that your inflation statistic of $800 in the 1860s being equivalent to $28,000 in today’s dollars is not particularly believable.
40 hour workweek didn’t really begin until 1940 so the average yearly wage based upon that isn’t likely a good estimate.
Then run the numbers on a 60-hour workweek, which ups the yearly wage to $300, making $800 more than two and a half times the average wage. $28K in today’s dollars is still way too low to be believable.
I’m reminded of the Architects phrase from The Matrix, “Denial is the most predictable of human responses.”
Your claim I’m wrong because I’m in denial while you outright deny. Sure thing.
I never said you were in denial, I said I was reminded of that phrase. The unreliability of government inflation statistics is well known. Shadowing Reality by John Williams explains it well enough. He claims its a bipartisan effort which reduces fiscal expenses by manipulating the CPI.
Yeah, better not to do anything because it might go wrong 100 years from now.
So don’t even try? What nonsense is this?
The same reason I don’t wipe after pooping. It’s just going to get dirty again anyway, so why bother?
Unrelated: I’ve been trying to figure out why my butt is itchy. A real mystery…
And there is nobody to ask as everyone stays away.
The middle class already pays a wealth tax on their greatest asset.
