No on Prop 42

[Brad Forschner]

A “no” vote opposes this initiative to amend the California Constitution to prohibit the enactment of:

• new taxes after January 1, 2026, on ownership or control of retirement holdings, individually-owned assets, and other forms of personal savings, and
• retroactive taxes that result in a tax liability based on conduct, activities, or a status that occurred or was present prior to the effective date of the tax.

 

Erica Olivo Reynoso, a licensed vocational nurse at Kaiser Permanente Los Angeles Medical Center and a member of SEIU-United Healthcare Workers West:

“Props. 41 and 42 were put on the ballot to trick voters into making a billionaire tax impossible to enforce. These initiatives aren’t about helping California taxpayers, and they’re not about audits or retirement savings, as they claim. They are about defeating one specific tax that billionaires want to avoid. Just follow the money. One of Prop. 41 and 42’s main funders is Google founder Sergey Brin, who just surpassed Jeff Bezos to become the third richest person in the world. Brin is spending more money than most of us will see in our lifetime just to try to cancel out a billionaire tax that would preserve healthcare access in California.”

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