How Much of California Taxes Do the Richest Pay?

Kent Lindstrom says the richest 1% in California pay 40% of the taxes, and the richest 10% pay 70%. Rich people are paying all the taxes. The share might not be enough and might not be fair.

Taylor Swift or Oprah Winfrey being a billionaire does not make life worse. A complaint about billionaires pointed at Elon Musk instead, which means the objection is to Elon Musk, not to billionaires. Taylor Swift being a billionaire is great because she has accomplished a lot. Nobody really got wealthy on the Taylor Swift tour other than Taylor, though people had jobs. When Apple or Amazon becomes worth a trillion dollars, thousands and thousands of employees are made economically whole and economically free, and they create economic stability for their families for years. Thousands and thousands of teachers whose pensions made money on Amazon or Apple have wealth generated for them, and a 401k generates wealth too. Billionaires are good.

Presidents and presidential candidates, he thinks, have said the country basically should not tax the bottom 25%, because there is no money there. In November, California will vote on the prop 40 billionaires tax.