Why Proposition 40 Failed. Spoiler Alert: The Propaganda Campaign Had Nothing to Do With It.
A Billionaire Tax was rejected by California voters.
Tech Bros poured a lot of money into advertising against this proposition.
Did it work?
No.
People will rarely, if ever vote to tax the rich for two reasons:
- They fear losing their jobs.
- The fantasize that they or their children will be billionaires are don’t want to pay taxes.
One group fear their survival. The other live in la la land.
And that’s baked in. No campaign needed.
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