Billionaire investor Mark Cuban and Democratic congressman Ro Khanna clashed publicly over California's proposed Proposition 40, a 5% one-time wealth tax on billionaires, with Cuban warning it would drive startup founders out of the state and telling Khanna he "doesn't understand business."
  • NABDad@lemmy.worldEnglish
    6·
    26 days ago

    It’s not an income tax, it’s a wealth tax.

    So let’s say you make 100,000 per year, you rent an apartment, and own an old shit bucket car worth $1000.

    Assuming it was written to apply to everyone and not just people with over a billion in assets, you’d pay $5 $50.

    Edit: typo.