Don’t rely on poison pills to stop the billionaire – Latest News
The newest ballot exhibits that California voters need to cross the “billionaire tax.” And additionally that they need to block it.
Wait — what?
A ballot launched this week by the Public Policy Institute of California (PPIC) exhibits that 52% of possible voters favor Proposition 40, which might take 5% of the wealth of billionaires in the state.
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SEIU-United Healthcare Workers West President Dave Regan attends a summit hosted by Politico on Tuesday, Aug. 11, 2026, in Sacramento, Calif. AP Photo/Annie Barker
The similar ballot exhibits that 51% of possible voters additionally favor Proposition 41, and that 54% of possible voters favor Proposition 42.
These are the two “poison pills” funded by Google co-founder Sergey Brin’s group, Building a Better California. They are designed to destroy Proposition 40.
The textual content of every says that if Proposition 41 or 42 wins more votes than Proposition 40, “the provisions of this measure shall prevail in their entirety, and all the provisions of the other measure [Proposition 40] shall be null and void.”
But Proposition 40 might nonetheless cross. In a close election, something can occur.
That is why it have to be fought.
These are the two “poison pills” funded by Google co-founder Sergey Brin’s (above) group, Building a Better California. They are designed to destroy Proposition 40. Getty Images for The Met Museum/Vogue
This is not only a tax battle. It is about whether or not we are going to permit socialism to take root in California.
We can not afford to chase the most profitable people out of the state — and plenty of are already leaving.
The most profitable Californians are the job creators, who keep the economic system shifting for the relaxation of us.
Proposition 40 would kill investment in Silicon Valley. It would raise tax revenues in the short time period, however decrease them in the long run, and choke financial growth.
And don’t think about that they’ll stop with the billionaires. Proposition 40 permits the state legislature to goal the center class, finally, as effectively. AP Photo/Nell Redmond
That’s why even some unions oppose it — and why SEIU-UHW boss Dave Regan allegedly tried to bully different union leaders into supporting it.
And don’t think about that they’ll stop with the billionaires. Proposition 40 permits the state legislature to goal the center class, finally, as effectively.
You can not have a thriving economic system in California in the event you take away the dream of success — for wealthy and poor alike.
Now more than ever, we need California leaders, in authorities and business, to converse out towards Proposition 40.
It’s not good enough to rely on poison pills.
Stand up now — earlier than it’s too late.
