Proposition 42 – Bans Personal Property Taxes
IJ Action Recommendation: VOTE NO
Summary
Prop 42 would make it harder to pass new wealth taxes in California by banning taxes on the ownership of personal property, retirement savings, and investment accounts. Like Prop 41, Prop 42 would also nullify Prop 40 (the billionaire tax) if passed.
Supporters Say
The supporters of Prop 42 say that it is unfair for wealthy individuals to have their personal property and other investment accounts taxed. The people behind Prop 42 are the same ultra-wealthy individuals backing Prop 41 and attempting to prevent the billionaire tax from taking effect.
Opponents Say
Opponents argue that Prop 42 is yet another attempt to confuse voters and prevent the billionaire tax from being enacted even if voters support it. The state that Prop 42 is not about protecting the assets of everyday Californians, but about preventing billionaires from having their wealth taxed one time. Prop 42 is opposed by the CA Democratic Party and SEIU-UHW, which is the main supporter of the billionaire tax.
IJ Action Recommendation
VOTE NO. Prop 42 is a deceptive measure aimed at helping California billionaires protect their wealth at the expense of vulnerable communities. We must reject this attempt by the ultra-wealthy to manipulate and confuse voters.
Yes Website
No Website
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