Aug. 6, 2026 5 AM PT
To the editor: There are so many problems with the billionaire wealth tax that it can only be seen as a last-ditch attempt by the sponsors to get some attention to the real problems of wealth disparity and faltering spending on crucial government programs (“Billionaire tax is endorsed by California Democrats, deepening party divisions over Prop. 40,” Aug. 2). One might hope that in response to Proposition 40, the wealthy and influential would make concessions to the ever-increasing wealth disparity in our society. That has not been the case.
In fact, with decreased Internal Revenue Service staffing and the passage of the One Big Beautiful Bill Act, the opposite is happening. Decreased rates and enforcement mean that dynasties will become entrenched, exactly what the tax code was made to prevent.
The need for reform is at the national level, but due to complete Republican capitulation to the wealthy, and due to the nonexistent pushback by Democrats, it falls to the states to do something — anything — to keep hospitals and schools open.
Unfortunately, voters are left with a choice between doing nothing or implementing a badly structured attempt at doing something.
Harlan Levinson, Los Angeles
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To the editor: No on the proposed billionaire tax. I researched California’s billionaires and found that few inherited their wealth. Most earned theirs the American way: through vision, innovation and hard work in a capitalist economy that rewards those qualities. They also employ many Californians in living-wage jobs. Punishing them with an unfair tax resembles socialist wealth redistribution.
I understand that many people — some with degrees that did not lead to rewarding careers and others with no post-high school training — feel left behind and struggle with inflation, California’s high cost of living and high taxes. But the answer is not to punish success.
Instead, California should breed success. Improve K-12 education, directly fund career and technical education, require more life-skills courses (such as the finally expanded financial literacy courses) and provide career exploration and guidance early to help students pursue living-wage careers that work with robots rather than being replaced by them. Make more billionaires; don’t drive ours away.
Jim Stoch, Carnelian Bay
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To the editor: I share Gustavo Arellano’s anger about the current political situation, but I dissent on Proposition 40 (“What gets me so angry about California’s proposed billionaire tax,” Aug. 5). While it does not reverse federal Medicaid cuts, its approval would provide meaningful help. Granted, it won’t solve the problem completely — that would require a significant overhaul of the healthcare system.
At minimum, Proposition 40 serves as a crucial reminder that income inequality remains a critical issue, and that those who build significant wealth through our system have an obligation to contribute fairly to the common good.
Domenico Maceri, San Luis Obispo