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  • Donald Ham 🏳️‍🌈 🐱🏋️‍♂️donaldham@mstdn.social
    Oct 2, 2026, 2:19 AM

    RE: c.im/@cdarwin/1173683896507689

    Nobel winner Paul Krugman, one of the signers, alerted his followers to the most important aspect of the billionaire tax a few months ago.

    It's a tax on wealth, not income, and would be one of the world's first, a precedent that could spread and make them pay up worldwide. Thats why they're in such a panic.

    Be sure to vote "yes" on 40, and "no" on 41 and 42, red herrings designed to neutralize 40.

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Replies

  • SparkyPFox@ohai.social
    Oct 2, 2026, 4:02 AM

    @donaldham I am confused and disappointed that Katie Porter is campaigning against this measure,with emails and interviews. I had such respect for her before. Any insights?

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  • Ewen Bell 📸ewen@social.ewenbell.com
    Oct 2, 2026, 6:43 AM
    @donaldham

    20 years ago both Sweden and Norway had a wealth tax, but then Sweden axed it. So we've seen two decades of divergence between the two countries and Sweden now is struggling to pay for things they have always taken for granted.

    https://phys.org/news/2026-01-lazy-complacent-swedish-pensioners-abolishing.html

    Norway still has a wealth tax, I think around 1.4% on assets. So if you own a house worth $1m then you pay $14,000 a year in wealth tax. But Norway also has an incredible level of support for education, health and job security. Everyone has differing views on how well the money is spent of course, but that is true for every country.
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  • Donald Ham 🏳️‍🌈 🐱🏋️‍♂️donaldham@mstdn.social
    Oct 3, 2026, 2:21 AM

    @ElyseMGrasso
    You're right, of course, and while we may not love paying real estate taxes on our house (and annual license fees for our cars,) we know they're how you pay for a society.

    It's way past time this simple obligation includes non-physical-asset wealth, one of the oversights that has allowed our massive wealth inequality.

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