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The ruthless socialists taking over the Democratic Party promote a consistent con that the rich in America are not taxed heavily. In this vein, Bernie Sanders enthusiastically supports a proposed 5% California tax on the wealth of billionaires, on top of all the taxes they already pay. The new tax will be on the Golden State’s November ballot unless supporters withdraw it by the close of business today, reports Hailey Branson-Potts in the the Los Angeles Times. She notes: A December analysis by the nonpartisan California Legislative Analyst’s Office said the tax would temporarily increase revenue by tens of billions spread over several years — but if too many billionaires move away, the state could eventually lose “hundreds of millions of dollars or more per year.” You don’t say. Even before the imposition of this new levy, the state’s heavy tax burden has been driving rich people out of the state for years. The Democratic candidate for governor of California, Xavier Becerra, has not endorsed the new billionaire tax but he parrots the socialist canard
that the rich pay less in taxes than do people in the middle of the income scale. CalMatters quotes Mr. Becerra on whether he thinks California’s tax structure is fair: I don’t because people who work hard are paying more in taxes than people who are uber wealthy. Billionaires are sometimes paying taxes at a rate that’s lower than your nurse, your teacher, your firefighter, your police officer. And we have to make sure we have a system that asks everyone to do their part. It’s a crock, and not just because
of the bogus generalization that rich people don’t work hard. When it comes to income tax bills, not only do the rich pay more than those at lower incomes—they shoulder more of the tax burden in California than in any other jurisdiction in the industrialized world.
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