In Reply to: Prop 40, bull plop on parade posted by SagoBob on October 18, 2026 at 11:10:37
The prop builds the infrastructure to do tax wealth without another prop to vote for. However, the actual bill to tax at a lower rate still has to be voted on by the legislature, by a two thirds margin of both houses. The current bill only affects billionaires. If in the future, at some other time, they want another bite at the wealth apple, they do not have to go the proposition route but they still have to get it passed the legislatures and the gov.
The prop 40 opponents are trying to scare people on a very remote possibility. I simply can not envision a world where they take the infrastructure of prop 40 and vote to tax the wealth on anyone other than a billionaire. Imagine 2028 and the California legislature is considering lowering the wealth tax to 500 million. Where is the 2/3s support coming from? What politician is going to want their name on that bill, let alone 2/3s of em.
The anti-prop 40 ads are based on scare tactics and want you to turn off you critical thinking skills and want the voter to think they are coming after them.