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The ultra-rich are spending one million dollars a day fighting California’s proposed billionaire tax
(www.theguardian.com)
Would it not be cheaper to pay the tax?
this post was submitted on 17 Oct 2026
311 points (99.7% liked)
politics
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Too bad that political donations aren’t taxable
Or that corporations are allowed to do them at all.
That power if corporations is invested by individual states, and 2 have already taken it away from them
I will never understand how people who are dumb enough to pay more money stopping a tax than they'd have to pay if the tax passed were able to make so much money in the first place.
Because if you do the one-time tax, people might start asking for a permanent rise in billionaire taxes. When it succeeds, people might start asking about broader redistribution policies.
They cannot allow one single victory, because any momentum to the left threatens their absolute power, and wherever possible will crush it under their heel.
Ahh so the domino theory
But it's a wealth tax. What do you do if their wealth goes down before if realized into cash? So you refund them?
What do you do when they don't have the cash to pay the tax? Force liquidations? Who buys the assets? Blackrock or china?
There are plenty of ways to set up a taxation system to deal with unrealized assets. And as far as what to do when they don't have the cash, why should we treat billionaires different? If they can't pay immediately, they can set up an installment plan.
It’s principle
Just keep pushing this bill, and push bills like it in more states. If we can’t tax them directly, them pissing money away fighting these bills might be an indiriect tax. Unfortunatley the money goes to politicians.
Other states are already preemptively trying to resist it. Reports from early voters show NC has state constitutional amendment questions about preventing state taxes from being raised above a certain percentage and, separately, preventing one-time taxes.
Dropping a million dollars a day to convince me you aren't too rich is a weird argument.
If they actually had jobs and weren't societal leaches, they could just pay taxes and wouldn't have time for all of these stupid plots
Imagine how many lives that would've saved.
They could buy some random person a house every day and some furniture and groceries
So it'll take one thousand days for one billionaire to lose one billion dollars.
I need to start a pac that fights legislation that billionaires dont like and then use the money to fund legislation to tax billionaires.