Only in California could an idea as backwards as this could be even considered for statewide ballot for consideration in November. The ballot initiative would not only impose new taxes, but would actually impose a one-time tax on those who seek to leave the state to avoid paying those taxes, which is endearingly labeled the Hasta La Vista Tax. And that's not the half of it.
This bill is proffered by one Paul McCauley who clearly thinks Karl Marx had economics right, and wants to engage in massive redistribution of wealth. Apparently, the progenitor of this proposal thinks that wealth is concentrated in too few people, and to rectify the situation, the money will be confiscated and redistributed.
It gets better than that. Read the full proposal. McCauley actually wants California to engage in massive purchases of major companies, including Goldman Sachs, ExxonMobil, General Motors, JP Morgan Chase, and several others in order to have a controlling say in how those companies operate.
He's actually pushing a version of the Chavez socialism plan - taking private companies and seeking to put them in the hands of the state in order to control how they operate.
Never mind that some of those most affected by this would be the Hollywood types who have thrown their support for Sen. Barack Obama and his own tax and spend schemes.
Needless to say, I give this proposal no chance of making it on the ballot, let alone pass in statewide election.
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