California Already Needs to Double the Wealth Tax

<![CDATA[I've written about this a bunch to times now but for those who missed it the brief backstory is that a California union is backing a "one-time" billionaire wealth tax which would only apply to about 200 people in the state. It's not an income tax, it's a true wealth tax. The state would tally up everything these folks own, homes, cars, stock, companies, etc. and then take a full 5% of that total. If they don't have that amount in cash, they'd be forced to sell of their property to cover the tax.]]>