

Then the state legislature can extract the money through, I dunno, actual taxes. Prop 40 was written by some university professors and got on the ballot because enough people signed a petition for a “wealth tax”. The wealthy, along with corporations, absolutely need to pay more in taxes. But a “one time” (how will that phrasing play in future attempts at properly taxing them!?!) siphoning of money (a mere 5%) will be a quick fix that’ll be gone within a year if the measure even survives the lawsuits.
If this actually happens and Republicans lose the House by a handful of seats, please don’t call it a “blue wave”…