Californias Wealth Tax is Now on the Ballot

California’s lunatic “wealth tax,” it appears, is to be on the 2026 poll. It’s one of the dumbest concepts in the historical past of taxation, advocated and deliberate by some of the most economically ignorant people to ever flip oxygen into CO2, which does not imply lots of lefties will not vote for it.

The once-Golden State’s impeccably coiffed Governor Gavin Newsom, with a word of panic in his digital voice, desires Californians to know he is voting “no,” and why he desires them to vote against the measure as properly. 

California Democratic Gov. Gavin Newsom is going through another blow after a huge wealth tax he warned might trigger a wealth and business exodus from the state was formally added to the November poll.

Despite his opposition, the measure’s sponsor, Billionaire Tax Now, announced Thursday that it was formally being added to the state’s poll. The measure, called the California Billionaire Tax Act, would impose a one-time, “emergency” 5% tax on Californians with property exceeding $1 billion. The tax has been endorsed by socialist Sen. Bernie Sanders, I-Vt., who called it “reasonable and necessary” “at a time of unprecedented and growing wealth consolidation and income inequality.”

However, Newsom, a rumored frontrunner for the Democratic Party’s presidential nomination, has come out strongly against the tax, citing fears that billionaires will merely up and depart to states like Texas or Florida.

It’s a little late to be frightened about that now; this has been a key half of the Great Sorting, and it is only going to worsen for locations like California, New York and New Jersey, states which appear to be progressing (hah) from electing liberals to electing “progressives” and now, in some circumstances, outright commies.

Never worry, though; Governor Newsom has a plan. He desires to jack the tax on the producers up nationwide.

So right here is what I help: A national billionaires’ tax. A true minimal tax on billionaires — a trendy Buffett Rule — that ensures the people at the very top pay at least the tax fee their own employees pay. Today, the workplace employee can shoulder a greater tax fee than the heiress. The construction employee might pay a greater fee than the developer. And the supply driver can end up paying a greater fee than the founder of the company whose packages he delivers.

Sure, let’s make sure that the productive do not just depart California. Let’s incentivize them to depart the United States.

Read More: Suicide Watch: CA’s Disastrous Billionaire Tax Moves One Step Closer to Reality

New Tax Stupidity: Will the Last Productive Person to Leave California Please Turn Out the Lights?

Here’s what Newsom neither is aware of nor cares about: What he is proposing could be, by necessity, a wealth tax. The motive the very rich do not pay taxes on their internet price is that most of the internet price is not liquid. It’s wealth, but it is not income, so it is not taxed as income. What’s more, that wealth is not sitting idle. It’s working, being invested in business ventures, in startups, in growth. Newsom’s lunatic proposal would have a chilling impact on that and would hurt, not help, average Americans.

But this is the real kicker: This cannot occur without a constitutional modification. In this, Governor Newsom has shown himself to be as constitutionally ignorant as he is economically ignorant. Here’s why, and I’m going to inform you. There are a couple of locations where this issue pops up.

First, Article I, Section 2, Clause 3, the Enumeration or Apportionment Clause, states in half:

Representatives and direct Taxes shall be apportioned among the a number of States which can be included within this Union, according to their respective Numbers…

“Direct taxes,” which means, a tax levied instantly on the residents.

Then, Article I, Section 9, Clause 4, the Direct Tax Clause, states:

No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken.

Now, this is where the rubber meets the highway: We already have a tax that is not laid in “proportion to the Census or enumeration.” That’s the income tax. And that tax required a constitutional modification to get around Article 1, and that was the sixteenth Amendment.

The Congress shall have energy to lay and accumulate taxes on incomes, from whatever source derived, without apportionment among the a number of States, and without regard to any census or enumeration.

That’s what Governor Newsom’s wealth tax would require. And since a constitutional modification requires ratification by 3/4 of the states – that could be 38 states – that’s successfully unattainable. 

Really, Governor Newsom, you need to truly attempt studying not only some economics texts – if you possibly can read only one, I like to recommend Dr. Thomas Sowell’s Basic Economics – but you may also attempt studying the Constitution that you must have taken an oath to uphold. After all, sometimes a little data can go a long method, particularly when you are beginning from, basically, zero. One may even say, a little dab’ll do ya.

Editor’s Note: President Trump is main America into the “Golden Age” as Democrats attempt desperately to stop it.  

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