California Can’t Afford the Reckless Wealth Tax Experiment
A proposed one-time tax on wealth will push out California’s innovators, entrepreneurs and job creators, who drive the state’s economy and pay nearly half the taxes that fund education, health care, and other key priorities.
Their departure will leave a massive hole in the state budget, threatening core services and forcing other taxpayers to make up the difference. Even the French economists behind the proposal admit it is a massive “experiment” on California’s economy.
Groups Opposed to the
Wealth Tax
A growing, bipartisan coalition of business, labor, healthcare, education, public safety, housing leaders and more strongly oppose the Reckless Wealth Tax Experiment.
Full List of Groups & Officials Opposed- Planned Parenthood Affiliates of California
- California Medical Association
- California Teachers Association
- California Chamber of Commerce
- Housing California
- California Primary Care Association
- State Building and Construction Trades Council of California
- California School Boards Association
- Peace Officers Research Association of California (PORAC)
- California Conference of Carpenters
*Partial list of organizations opposed.
Get the Facts
Shortchanges Schools & Healthcare Consumers
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The wealth tax experiment exempts itself from Proposition 98, bypassing longstanding voter-approved constitutional protections for school funding. This would shortchange classrooms and students billions of dollars every year.
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Proponents claim the billions of dollars in new taxes are for healthcare, but they failed to include language that ensures funds actually go to help Californians struggling with healthcare costs.
Will Lead to More Taxes & Higher Taxes
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This "one-time" tax only provides temporary funds. When the money runs out, Sacramento politicians will be back with yet another tax. California needs stable funding for public services – not more costly tax-and-spend schemes.
Lacks Safeguards Against Wasteful Spending
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The flawed proposal seeks to raise tens of billions of dollars, but has no accountability, transparency, or oversight provisions to ensure taxpayer dollars are spent as intended.
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State government spending is already up 77% since 2019 – without delivering better results. There's nothing in the measure to ensure money will be managed any differently.
Contains Serious Constitutional & Legal Flaws
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The deeply flawed proposal has serious constitutional and legal vulnerabilities that will delay or completely prevent any revenue collection for years.
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This measure is already causing serious harm to California's economy and state revenue – all for a reckless gamble with little chance of paying off.
Reject the Reckless Wealth Tax Experiment.
Join our Coalition
I/we oppose the reckless California wealth tax experiment that will push innovators and job creators out of the state, jeopardizing core services and forcing other taxpayers to make up the difference.
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