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...