The poorest billionaire in California will make about $300 million this year. If we pass the CA wealth tax, he will only make $235 million. In exchange, millions of the poorest Californians will get health insurance. That’s the tradeoff billionaires are not willing to make.
Its carved in stone proof of the dissolution of hte social contract.
Companies and business owners used to take care of you, because they were incentivized to do so thanks to massive taxes on wealth. So the rich would take care of their workers, invest in the social good (libraries, hospitals, etc), and put that money to use, to avoid the taxes on it.
But then the right came along with their idea of
pissing on everyone“trickle down economics”, and got rid of the high taxes on the wealthy, and the wealthy puckered up tighter than a snare drum and the flow of money downward stopped, and they all became dragons siting on vast hordes doing nothing of importance.