Double down and make this an annual tax.
this post was submitted on 11 Oct 2026
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Prop 40 is basically a performative measure that will get tossed out in court. And it’s completely toothless. A quick little one time handout. The tax code needs to be changed at the Federal level. But hey, if this get y’all to actually vote, fine.
The billionaires got their president. It’s “find out” time.
They state needs the money if they have any shot of covering the services shortfall that was cut federally. It's not about being punitive, that's just how they want you to think about it for propoganda purposes.
Then the state legislature can extract the money through, I dunno, actual taxes. Prop 40 was written by some university professors and got on the ballot because enough people signed a petition for a “wealth tax”. The wealthy, along with corporations, absolutely need to pay more in taxes. But a “one time” (how will that phrasing play in future attempts at properly taxing them!?!) siphoning of money (a mere 5%) will be a quick fix that’ll be gone within a year if the measure even survives the lawsuits.