Wealth tax

I was pleased to see that the Wealth tax in California did not pass. It was a terrible proposal that was not well thought out. From a practical standpoint, it just made no sense and would effectively force entrepreneurs leading the biggest companies to move.

The impact of such tax would do significant damage to California which is home to the world’s innovation hub in Silicon Valley. The ultimate bottom line would’ve been a net negative for California.

All that said, the wealth disparity in this country continues to grow and needs to be addressed. I believe vilifying the wealthy is the wrong way to go about things, but thinking about it from the other side, I also understand the disdain. If you are someone who is struggling to make ends meet, which is a lot of America, and then you see how the other side lives, it’s easy to sit here and blame them for your problems whether right or wrong.

We are living in a country where everyone is getting wealthier, but the already wealthier are getting wealthier at a much faster pace than the lower income level. That’s the problem that needs to be addressed.