CNBC’s Squawk Box has reported that California’s billionaire wealth tax is “set for defeat.” Watch:
You know that there are major problems with wealth taxes. You have read about them here:
- Economists Warn of the Risks of a Wealth Tax
- Wealth Taxes: A History of Failures
- Why a Wealth Tax Would Be a Disaster
- ON SHAKY GROUND: California Wealth Tax Unconstitutional?
- Wealth Taxes Won’t Stop at Billionaires
- Wealth Tax Fairytales: There Are No Dragons
The passage of the wealth tax was a long shot, as even California’s Democratic Governor Gavin Newsom had reservations about the idea.
Not every vote is counted yet, and California notoriously takes a long time to complete its counts, so while CNBC is reporting that the wealth tax is headed for defeat, the final numbers aren’t in.
Action Line: Keep your eye on your own wealth. When you want help, email me at ejsmith@yoursurvivalguy.com, and click here to subscribe to my free monthly Survive & Thrive letter.
