California’s proposed one-time billionaire wealth tax was trailing in early election returns Wednesday morning, while Prop 42, which would prevent any future similar measures from getting on the ballot, is ahead by over eight points.

Not only did the billionaire tax fail in California, but prop 42, to amend the California constitution to forbid the introduction of taxes on personal property (investment accounts, art) for the wealthy in the future, backed by greaseball Gavin Newsom, seems to have passed.

  • tacoplease@lemmy.world
    4·
    4 hours ago

    Personally, I think this should be a federal tax, not just a California or state tax so that there’s nowhere for the roaches to hide.

      • tacoplease@lemmy.world
        11·
        2 hours ago

        They’ll just move to a state that won’t. I’m sure they’ve got million retainers with lawyers who are working in this already.

        • Johnmannesca@lemmy.world
          2·
          1 hour ago

          Some will, but many won’t, granted they leave behind a lot of infrastructure, routes anf other facets of how they became so wealthy