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- cross-posted to:
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The measure calls for placing a one-time 5 percent tax on the assets of California residents with at least $1.1 billion. Opponents are backing competing measures to counter the tax.
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A one-time, 5% tax is stupid. That money will be gone like a tax return at Best Buy. It should be a yearly 1.5-2% tax.
It should be an annual tax equal to the poverty rate. Wanna save on taxes? End poverty first.
