From: fedora@fea.st
On Thu, 12 Feb 2026 19:10:39 -0800, Dude wrote:
>On 2/12/2026 6:41 PM, Noah Sombrero wrote:
>> On Thu, 12 Feb 2026 18:29:50 -0800, Dude wrote:
>>
>>> On 2/12/2026 3:06 PM, Noah Sombrero wrote:
>>>> On Thu, 12 Feb 2026 14:26:02 -0800, Dude wrote:
>>>>
>>>>> On 2/12/2026 1:35 PM, Noah Sombrero wrote:
>>>>>> On Thu, 12 Feb 2026 13:06:13 -0800, Dude wrote:
>>>>>>
>>>>>>> On 2/11/2026 12:20 PM, Noah Sombrero wrote:
>>>>>>>>
>>>>>>>> February 11, 2026
>>>>>>>>
>>>>>>>> Class war is the future of American politics
>>>>>>>> By David Wallace-Wells
>>>>>>>>
>>>>>>>> The San Francisco Bay Area is home to at least one-third of the value
>>>>>>>> of the entire U.S. stock market. Late last year, you couldn’t escape a
>>>>>>>> chilling billboard campaign, meant to be cheeky, from an artificial
>>>>>>>> intelligence start-up: “Stop Hiring Humans.” And on Saturday, somebody
>>>>>>>> tried to AstroTurf a trollish Billionaires March through the city in
>>>>>>>> defense of Silicon Valley’s 21st-century robber barons. Only a few
>>>>>>>> dozen people showed up, heckled along the way by passers-by.
>>>>>>>> The billionaires themselves also seem to be on the move. In recent
>>>>>>>> months, Mark Zuckerberg, Larry Page and Sergey Brin have all purchased
>>>>>>>> homes outside California, potentially bringing their hundreds of
>>>>>>>> billions of dollars with them. Others have spent the past few months
>>>>>>>> raging about the injustice of the state’s new politics of class
>>>>>>>> warfare.
>>>>>>>>
>>>>>>>> Why? A proposal — supported by the local congressman Ro Khanna but not
>>>>>>>> the state’s governor, Gavin Newsom, and currently floating in limbo as
>>>>>>>> a potential ballot initiative tentatively scheduled for the fall —
>>>>>>>> that would impose a one-time 5 percent wealth tax on the state’s
>>>>>>>> billionaires, whose wealth has soared since the pandemic.
>>>>>>>>
>>>>>>> This makes sense - California faces a projected budget deficit for the
>>>>>>> 2026-27 fiscal year, with estimates ranging from a $2.9 billion
shortfall.
>>>>>>>
>>>>>>> However, California Governor Gavin Newsom is not in favor of the
>>>>>>> proposed California wealth tax. Why?
>>>>>>>
>>>>>>> It could damage the state's economy, drive away top earners, and reduce
>>>>>>> funding for public services by reducing overall tax investments.
>>>>>>>
>>>>>>> He has consistently opposed such measures, stating years ago that
wealth
>>>>>>> tax proposals were "going nowhere in California".
>>>>>>
>>>>>> A citizen's ballot initiative might change his mind.
>>>>>>
>>>>> Apparently, the Governor is not in favor of special taxes for wealthy
>>>>> people, to pay off the state deficit. In the US, it would probably be
>>>>> unconstitutional. Everyone is equal under the law. It's in the US
>>>>> Constitution.
>>>>
>>>> A graduated income tax would still be legal. A 5% tax on only the
>>>> wealthy could be challenged as not fair. I'm sure the wealthy would
>>>> not hesitate a minit to bring that case.
>>>>
>>> Under the US system, higher-income households pay a larger percentage of
>>> their income in federal taxes compared to lower-income households.
>>>
>>> Apparently, a flat rate of around 24% on personal income was estimated
>>> to be revenue-neutral, meaning it would cover the then-current federal
>>> outlays. YMMV.
>>
>> It would however be unsupportable for low income families.
>>You're almost already there:
>
>Canada - 20.5% on the portion of taxable income over $58,523 up to $117,045.
24% might do it in the us. But probably not in canada. Wages and
costs are not comparable.
Even so, a lot of people here don't make $58,000.
24% of minimum wage in the us would be a killer.
--
Noah Sombrero mustachioed villain
Don't get political with me young man
or I'll tie you to a railroad track and
<<>> to <<>>
Who dares to talk to El Sombrero?
dares: Ned
does not dare: Julian shrinks in horror and warns others away
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
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