This tax proposal is either malicious or done by the most stupid people imaginable.

The 5% thing is not even remotely the biggest problem.

Also, what prevents them from doing a 5% tax again in a few years, or lowering the limit to who must pay it?

https://x.com/JaredWalczak/status/2011506494282309720

https://x.com/JesseTinsley/status/2012269748982370698

https://taxfoundation.org/research/all/state/california-weal...

Billionaires don't like paying taxes says billionaire owned newspaper.

There's nothing you can do, the billionaire mouthpiece continued. If you try to tax them the billionaires will punish you.

Fear the billionaires. Know your place.