In Reply to: Re: So if Prop 40 losses, they can never raise taxes? posted by russsmith on October 14, 2026 at 16:38:45
Billionaires amassed fortunes by deferring income and avoiding regular income taxes by manipulating the tax code.
They got tax breaks that allowed them to amass vast wealth. Changing the rules to tax some of that wealth isn’t any kind of moral misstep. They became wealthy beyond belief by taking advantage of tax laws that protecting their revenue streams by design.