California Lunacy Thread

#3,780
#3,780
A proposed "one-time" 5% retroactive billionaire tax is currently a California ballot initiative for the November 2026 election. It aims to tax all personal property and wealth of California residents with a net worth of $1 billion or more.

Key Details of the Proposal
  • Tax Rate and Base: The initiative proposes a one-time 5% excise tax on all forms of personal property and wealth (tangible or intangible) that exceeds $1 billion. This includes stocks, bonds, business interests, art, and collectibles.
  • Retroactivity and Residency: The measure could apply retroactively to individuals who were residents as far back as January 1, 2025, even if they leave the state before the tax is implemented in 2026.
  • Payment Options and Penalties: Taxpayers could pay the liability in a lump sum or in equal installments over five years with a potential interest charge. Substantial penalties of 20-40% would apply for underreporting or undervaluing assets.
  • Revenue Allocation: 90% of the revenue would be directed to healthcare services (specifically to offset federal and state Medicaid/Medi-Cal cuts), and 10% would go to K-12 public education, capped at $25 billion per year.
Status and Next Steps

The initiative has been filed with the California Attorney General's office and is under review. To qualify for the November 2026 ballot, approximately 875,000 valid voter signatures are required. A simple majority vote would be needed for passage.

Controversies and Legal Challenges

The proposal is expected to face legal challenges. Potential issues include the constitutionality of taxing worldwide assets and former residents. Critics also express concerns about valuing illiquid assets and the potential for wealthy individuals to leave the state, impacting the income-tax base.

Federal Context

At the federal level, various "billionaire tax" proposals have been introduced by Democratic lawmakers, though none have been enacted into law.
 
#3,782
#3,782
What is it w/deranged Democrats & wasting taxpayer money in California?
They seem to never get anything right about anything in life past or present.
 
#3,789
#3,789
W.TN.Orange Blood said:
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do you guys even stop to read the stuff the Russian bots fake in these tweets you post? ever stop to think about how fake this crap is?

"Mel Gibson ACCEPTED he will be running" wtf is that? it doesn't make sense as a sentence. there have got to be better examples you can find.

also would be worth doing a quick google, because there is nothing on the internet about Gibson actually running for governor.

also might want to check the dates. The next California governor race is in 2026, not 2028; and its a 4 year office, making a 2028 run even more impossible.

1 minute of truth searching would do a lot of you a lot of good.
 
#3,793
#3,793
GAVIN NEWSOM’S $20 FAST-FOOD WAGE JUST KILLED 19,000 JOBS

California’s glorious “worker empowerment” experiment is now official: since the $20 minimum hit in April 2024, the state has erased more than 19,000 fast-food jobs - over 25% of ALL fast-food jobs lost in the entire United States.

Hours slashed, overtime banned, mom-and-pop stores closing or flipping to kiosks because they can’t afford the Newsom tax.

Prices? Up 14.5% on average. A Combo meal that was $11 is now $18–22. Families who used to grab a quick bite after soccer practice are now eating at sit-down joints or just staying home with ramen.

Chains are installing kiosks and AI drive-thru's faster than you can say “would you like fries with your unemployment.” Wendy’s, McDonald’s, and El Pollo Loco already testing robots because Gavin made humans too expensive.

But the best part: the workers still employed are making less total money because their hours got gutted harder than the wage went up.Meaning: Newsom handed unions a trophy, handed BlackRock cheaper real estate when the leases default, and handed every working-class family in California the bill - while he sips Napa Cabernet and pretends this was “progress.”

Source: Employment Policies Institute Nov 2025 report, Berkeley Research Group price study, National Review
 
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#3,794
#3,794
StarRaider said:
GAVIN NEWSOM’S $20 FAST-FOOD WAGE JUST KILLED 19,000 JOBS

California’s glorious “worker empowerment” experiment is now official: since the $20 minimum hit in April 2024, the state has erased more than 19,000 fast-food jobs - over 25% of ALL fast-food jobs lost in the entire United States.

Hours slashed, overtime banned, mom-and-pop stores closing or flipping to kiosks because they can’t afford the Newsom tax.

Prices? Up 14.5% on average. A Combo meal that was $11 is now $18–22. Families who used to grab a quick bite after soccer practice are now eating at sit-down joints or just staying home with ramen.

Chains are installing kiosks and AI drive-thru's faster than you can say “would you like fries with your unemployment.” Wendy’s, McDonald’s, and El Pollo Loco already testing robots because Gavin made humans too expensive.

But the best part: the workers still employed are making less total money because their hours got gutted harder than the wage went up.Meaning: Newsom handed unions a trophy, handed BlackRock cheaper real estate when the leases default, and handed every working-class family in California the bill - while he sips Napa Cabernet and pretends this was “progress.”

Source: Employment Policies Institute Nov 2025 report, Berkeley Research Group price study, National Review
Click to expand...
wait until NYC goes to $30/hour min wage for all.
$22 for fast food meal..ridiculous.
 
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#3,796
#3,796
StarRaider said:
A proposed "one-time" 5% retroactive billionaire tax is currently a California ballot initiative for the November 2026 election. It aims to tax all personal property and wealth of California residents with a net worth of $1 billion or more.

Key Details of the Proposal
  • Tax Rate and Base: The initiative proposes a one-time 5% excise tax on all forms of personal property and wealth (tangible or intangible) that exceeds $1 billion. This includes stocks, bonds, business interests, art, and collectibles.
  • Retroactivity and Residency: The measure could apply retroactively to individuals who were residents as far back as January 1, 2025, even if they leave the state before the tax is implemented in 2026.
  • Payment Options and Penalties: Taxpayers could pay the liability in a lump sum or in equal installments over five years with a potential interest charge. Substantial penalties of 20-40% would apply for underreporting or undervaluing assets.
  • Revenue Allocation: 90% of the revenue would be directed to healthcare services (specifically to offset federal and state Medicaid/Medi-Cal cuts), and 10% would go to K-12 public education, capped at $25 billion per year.
Status and Next Steps

The initiative has been filed with the California Attorney General's office and is under review. To qualify for the November 2026 ballot, approximately 875,000 valid voter signatures are required. A simple majority vote would be needed for passage.

Controversies and Legal Challenges

The proposal is expected to face legal challenges. Potential issues include the constitutionality of taxing worldwide assets and former residents. Critics also express concerns about valuing illiquid assets and the potential for wealthy individuals to leave the state, impacting the income-tax base.

Federal Context

At the federal level, various "billionaire tax" proposals have been introduced by Democratic lawmakers, though none have been enacted into law.
Click to expand...

There are some massive issues to this, but than again I think people are starting to review a variety of taxes at this point. Its good that Florida and a few other States are looking at eliminating property tax or at least the way its being administrated.
 
#3,797
#3,797
W.TN.Orange Blood said:
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Not saying to copy this, but dang would it be helpful if high schools taught how to deal with law enforcement properly.

Not resisting. Complying but sticking to your rights. How to notice when a cop goes too far, how to handle it when one does. heck bring in some cops to talk about their experiences, what they want to see, what they are looking for that will get you in trouble. with a personal defense lawyer in the room to call the cops on any BS they try to push, while also talking about how to handle that situation.
 
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