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> 4. Increase taxes on the wealthy, etc. This won’t work. When the tech exodus begins, it’s going to cause CA to buckle at its knees because the wealthy has be
by jelliclesfarm 6y ago
> 4. Increase taxes on the wealthy, etc.
This won’t work. When the tech exodus begins, it’s going to cause CA to buckle at its knees because the wealthy has been subsidizing more than 80% of the population. It is not sustainable or healthy at all to suckle at the teat of the wealthy.
We should abolish all taxes and only retain taxes based on consumption. And a flat modest capital gains tax. With dedications gone, this might actually bring in more public money.
Public spending will also decrease if we figure a way out of unfunded pension liabilities. This is huge. Don’t know how it can be resolved.
- DeRock 6y ago> the wealthy has been subsidizing more than 80% of the population CA does not tax wealth, they tax (predominately) income, and I wouldn't be so quick to equate the 2. Prop 13, for example, can mean that wealthy land owners pay almost nothing in tax if they've owned their property for a long time.
- rcpt 6y ago> Prop 13 https://www.taxfairnessproject.org/ https://www.taxfairnessproject.org/ generally the wealthier you are the bigger your tax cut.