wealth tax Archives - California Globe

New Wealth Tax Introduced in California

January 21, 2023 8:08 am

On January 19, a new wealth tax was introduced in the California Legislature. Assembly Constitutional Amendment (ACA) 3 was introduced by Assemblyman Alex Lee (D-Palo Alto), along with co-authors Assembly Members Ash Kalra, Wendy Carrillo, Matt Haney, Corey Jackson, Liz...

New Wealth Tax Proposal in California in Assembly Bill 2289

February 17, 2022 4:15 pmFebruary 17, 2022 6:04 pm

On February 16, Assembly Member Alex Lee, along with co-authors Assembly Members Wendy Carrillo, Ash Kalra, Luz Rivas, and Mark Stone, introduced Assembly Bill 2289 to create a wealth tax in California. The bill would amend Section 12651 of the...

California Wealth Tax Proposed in Constitutional Amendment

March 23, 2021 11:23 amMarch 26, 2021 6:48 am

On March 22, Assembly Members Alex Lee, Wendy Carrillo, Lorena Gonzalez, Miguel Santiago, Ash Kalra, Luz Rivas, and Mark Stone introduced Assembly Constitutional Amendment 8 to propose a wealth tax to be placed before the voters. Officially, ACA 8 is...

California’s General Fund Relies on the Super Rich and Federal Bailouts

January 13, 2021 2:15 amJanuary 13, 2021 6:11 pm

One of the biggest reasons California’s technology moguls supported the Biden/Harris candidacy had nothing to do with ideology. It had to do with their pocketbooks. Because with a Californian presiding over the Senate, and a Californian Speaker of the House,...

Jeffrey Gundlach, Other Wealthy Californians Threaten To Leave California If Wealth Tax Is Passed

September 29, 2020 2:37 amSeptember 28, 2020 8:39 pm

During the weekend, a new round of wealthy Californians, including Billionaire Jeffrey Gundlach, threatened to leave California should the new proposed wealth tax be passed, putting pressure on lawmakers who hope to pass the proposed bill next session. Wealth tax...

Sex and Taxes: Legislators’ Annual Preoccupation

September 1, 2020 10:13 amSeptember 1, 2020 10:49 am

“Tis impossible to be sure of any thing but Death and Taxes,” the popular idiom says. But in California it is more accurate to say “sex and taxes.” With California in dire financial straits having been locked down since March,...

‘Time Stealing’ Regulations for ‘The Wealth Tax’

August 17, 2020 1:14 pmAugust 17, 2020 7:58 pm

Can you imagine having to do an inventory and net worth calculation every year? Let alone potentially being audited and having to prove that values were not intentionally understated? It’s not only financial robbery, it’s time theft! – Senator John...