RetroFed
California Will Vote on a Billionaire Tax. Billionaires Aren’t Happy.
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In the early 1960s, America’s richest faced a 91 percent tax rate on income in the topmost tax bracket, but was removed after successful rich lobbies.
While this is a great start by California, it’s time we reinstate that tax rate federally.
It used to be federal, from about 1946 to about 1965 when it went down to 70%. It remained up there until Ronald Reagan. Oh, wait, I’ll just link the data: https://pennycalc.com/tax-brackets/history/
Basically, I’ve watched my entire life as the Republicans have stolen from everybody to pay the few. And the Democrats didn’t help any.
I knew when I was 20 years old there wouldn’t be any Social Security by the time I retired. I’m close, the funds are empty and I will not get my full payout.
Tax cuts for the rich, subsidies for the rich, year after year it gets worse, eventually taxes become just stealing from the poor to give to the rich. Lewis XVI-style.
It’s a one time tax too, so that could be improved upon
It’s not even a start yet. Guarantee the billionaires find some messaging to try to thwart this, never mind Newsom’s two-faced stance on the issue.
But if Billionaires LEAVE WHO will Continue to use RESOURCES while paying NOTHING in Taxes!
They should be happy we aren’t starting with their goddamn heads.
I concur
Username does not check out.
“If the number of heads is a problem, decapitation can be arranged” - Lord Vetinari when discussing a “head tax”
We have to start with things we actually intend to do.
Who the thunk that when you steal from people consistently for 50 years, they get a little miffed? Funny, isn’t it?
Revolutions have started over this, just ask Louis the 14th of France.
Boo fucking hoo!
Great, so where are they moving to?
Fuck ‘em! Don’t like it? Leave! 100 smaller local businesses will swoop in to fill the gap in the market.
Oh, they’re not happy. Did someone get their wittle feewings hurted?
The billionaires will still be richer than they were before the “big beautiful bill” tax cuts. They’re fine.
So what? What are a handful of unhappy billionaires on comparison to thousands of suffering minimum wage earners who don’t know how to pay the rent and eat?