Petition to Enforce a 95% State Wealth Tax on High Net-Worth Individuals in California
To: The California State Legislature
From: Concerned Citizens of California
Subject: Petition for the Implementation of a 95% State Wealth Tax on Individuals with a Net Worth Exceeding $240 Billion
Introduction:
We, the undersigned citizens and residents of California, are compelled to address the growing economic disparity that exists within our state. It has come to our attention that certain individuals, including [Insert Name of High Net-Worth Individual], have amassed a net worth exceeding $290 billion through their businesses operating within California. Such extreme wealth concentration is detrimental to our society and economy.
The Need for Tax Reform:
- Economic Disparity: California is home to one of the highest costs of living in the United States. Many families struggle to afford housing, education, and healthcare. In contrast, individuals with astronomical wealth are largely insulated from these economic pressures.
- Funding Public Services: A progressive tax structure is essential for funding public services that benefit all Californians, including education, healthcare, infrastructure, and poverty alleviation programs. Implementing a 95% Wealth tax on ultra-high net-worth individuals can provide significant resources to address these critical areas.
- Addressing Climate Change: California has been at the forefront of climate change initiatives. Substantial funds generated from this tax can support sustainability projects and help transition to a greener economy.
Proposed Action:
We propose the following action be taken:
- Implement a 95% state Wealth tax on individuals with a net worth exceeding $240 billion.
- Allocate the revenues generated from this tax towards public welfare programs, infrastructure improvements, and sustainable development initiatives.
Conclusion:
The implementation of a 95% Wealth tax on ultra-high net-worth individuals is a necessary step toward equity, sustainability, and social responsibility in California. We urge the California State Legislature to give serious consideration to this proposal and act in the best interest of all Californians.
Thank you for considering the voices of your constituents in this matter. Together, we can work towards a fairer California for all.
