Washington Times reports bipartisan coalition fighting the tax
5Sep 21 11:16 AM · 2d ago · 1 article · 1 video · 4 posts · 5 comments · 6 sources · development 5 of 7
A coalition of business leaders and politicians is campaigning against Prop 40, warning it could push tech companies and other employers out of California; the report cites the measure polling ahead by 6 points.
FT.com: Nobel economists throw support behind California billionaire tax — “Contrary to the claims of its opponents, taxing billionaires will not doom Silicon Valley, quite the opposite” Silicon Valley was doing fine 25 years ago without these pig-fucking billionaires. It doesn't need billionaires.
Which is the loophole that needs closing. When you use an asset as collateral for a loan you should be forced to pay the capital gains tax on that asset. If you want to be nice to people, exclude their primary home up to a value of a million or so and its pretty much solely a problem for the rich.
This is a bit of a short sighted position as there are a number of necessary long term investments which only the state can make. Ever noticed how poor countries tend to have smaller governments.
What obligations? We're talking about the most brazenly, openly corrupt governments we've ever seen, and yet people want to siphon even more money to the gov't?
Just bring back pre-Regan tax codes and apply it to borrowing against things like stocks. Billionaire don’t improve the economy, they just siphon from it.
Sergey Brin Google co-founderJoshua Rauh Stanford economist, Hoover Institution researcherSacramento Bee / McClatchy editorial board Newspaper editorial boardNobel laureate economists (Duflo, Krugman, Diamond, Banerjee, Acemoglu, Stiglitz) Signatories of a public letterA