California’s ‘Wealth’ Tax Wouldn’t Even Cover the Cost of Fraud

[rangerrebew]

Daniel Greenfield / Sultan Knish Articles at DanielGreenfield.org
 

California’s ‘Wealth’ Tax Wouldn’t Even Cover the Cost of Fraud
 
 
SEIU, the massively powerful and radical health care union, claims that California faces a ‘healthcare collapse’ due to what it calls ‘federal funding cuts’ and only an ’emergency’ 5% tax on the total net worth of anyone with over $1 billion in assets will save the state’s health care.

There are no actual ‘cuts’, what SEIU and much of California’s Democrat machine falsely describes as cuts is actually MediCal (California’s name for Medicaid) getting work requirements for healthy adults and paperwork requirements expected to force illegal aliens off MediCal.

Gov. Gavin Newsom’s efforts to provide free health care to illegal aliens is what actually endangered the state’s health care funding. The only people losing MediCal are the people who shouldn’t have it in the first place. California Democrats are however too beholden to SEIU and its rival the California Nurses Association to graciously accept the much needed reforms.

Instead, SEIU is lobbying to get its ‘California Billionaire Tax Act’ on the ballot while promising that it can make up for what it describes as $100 billion in federal ‘cuts’. That’s actually over $1 trillion across a decade. SEIU’s own fact sheet for the Billionaire Tax Act claims that California’s billionaires “hold a combined wealth of $2 trillion.”

That means the 5% tax would have to go up to 50% to cover the state’s decade-long hole.

https://www.danielgreenfield.org/2026/01/californias-wealth-tax-wouldnt-even.html

[DefiantMassRINO]

I think SEIU also covers hotel workers, kitchen workers, etc, ... positions that have traditionally been filled with criminal illegal aliens, in violation of Federal law.

[PeteS in CA]

* The proposed theft would be one-time money but funding ongoing programs;

* In the union thugs' fantasy world, billionaires will sit still and allow their earned wealth to be plundered;

* Whether in version 1.0 or 1.1, part of bogey-billionaires' "wealth" will be assets that have appreciated, but that appreciation has not been realized by sale of the asset;

* When enough/all bogey-billionaires have fled the state, millionaires will be the next target for demonization and asset theft;

* If bogey-millionaires get their assets stolen, every home owner whose home has appreciated to over the value threshold will get a surprise; among many other places, just about every homeowner in Silicon Valley will get plundered.