in summary: up to 55% wealth tax on assets over $20 mil with fund used to buy between 30% and 50% of the voting shares of Exxon-Mobil, Chevron, GM, Ford, Goldman Sachs, J.P. Morgan Chase, and Citigroup. http://opinion.latimes.com/opinionla/2008/08/california-to-b.html is this a joke maybe? i hope. but all of the links appear to come from either the offices of the secretary of state or attorney general. i can’t imagine what this will do to either the people’s republic…er…state of california or the shares of these companies if it were passed.
Upsetting. … + Obama? No escape from the people’s republic of the united st…
I don’t think Paul McCauley, CPA, or his co-author Bradley Rooker, Vice-President of Sheet Metal Workers’ Local Union No. 105, represent the feelings of most Californians. They will need to get the required signatures to get on the ballot. Not that this is really worthy of any further research, but you can see a letter to Teacher’s Union in CA linked here: http://mccauley-rooker.org My favorite quote: “What better approach to this issue than to bury this issue in a multi-purpose measure of which universal health insurance, while prominent, is not the principal theme?”
I think that any nutcase following whatever rules of procedure is allowed to start an “initiative petition”. My favorite part is that the crackpot called the tax owed in the year of death or leaving the state, the “Hasta La Vista Tax”
All kinds of BS end up on the ballots here. There are a lot of uneducated idiots here too, so anything is possible. I mean sh!t, we elected the fu#@king Terminator as our leader.