Letters: One-time wealth tax won’t provide a long-term fix

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One-time tax won’t provide long-term fix

Re: “High-stakes wealth tax proposal roils uber rich” (Page A1, Jan. 25).

The proposed Billionaire Tax Act, imposing a one-time 5% tax on the total wealth of Californians whose net worth is $1 billion or more, needs reconsideration.

Certainly, anyone with $1 billion (or more) has more than enough to live very comfortably, but there is an approach that would be less onerous to the billionaires and more helpful to the state.

A one-time 5% tax would bring in a windfall for the state — once. And since it would be a one-off, it would likely just get spent on one-off types of things, providing no long-term benefit.

Far better would be an annual wealth tax of, say, 0.5%. That’s just pulling a number out of the air, but the point is that it would generate a steady source of income — and not come as a jolt, one-time though it might be, to those being taxed.

James Bangsund
San Jose

Wealth tax wouldn’t cost state billionaires

Re: “High-stakes wealth tax proposal roils uber rich” (Page A1, Jan. 25).

Once again, we hear billionaires are fleeing California because of the possibility of a one-time 5% tax, but billionaires aren’t moving to buggy, high-humidity states. They are moving their LLCs to Nevada for “more flexible tax planning.” Buying a house in Florida doesn’t mean moving your life there. It means counting days to be able to pretend you don’t reside in California.

They pay lawyers and accountants to avoid paying taxes even if paying the taxes would be cheaper. Zero tax is the goal. California taxes income, not unrealized wealth, which is why so much billionaire wealth escapes taxation. A temporary tax won’t start an exodus.

So no, California won’t lose the billionaires. They aren’t making California weather anywhere else. I don’t care whether they enact this law or not — it won’t make any difference.

Diane Brauch
Los Altos Hills

Competition would boost state education

Re: “School district to cut dozens of jobs amid outcry” (Page A1, Jan. 26).

It’s clear that our government schools need competition. Denying the most important demographic in our country the opportunity to participate, along with their parents, in a competitive system denies them the chance to do well. The government schools are failing our students.

More tax money, more government and more unions won’t help. Parents and students need to be able to choose the school that will serve them the best. Competition benefits the consumer. This may be a new concept to some, but it’s a very important one. Politicians and school officials can talk all they want about insufficient taxes, but money alone won’t fix the problem.

Thomas Baker
San Jose

Schools must provide classroom supplies

Teachers have to request basic classroom supplies through donation sites or fundraisers instead of receiving them from the school.

This is happening at schools in Cupertino Union School District, such as Miller Middle and  Warren E. Hyde Middle, where teachers post projects asking for items such as art supplies, books and classroom tools. Teachers should have the materials they need without having to rely on donations.

I believe the school district should ensure that every classroom has all the basic supplies required. If the district provided these resources, teachers could focus fully on teaching, and students at Miller and other nearby schools would benefit. This issue affects not only our schools, but schools around the world.

I am writing this letter to encourage the government to make sure classrooms are properly supported.

Adithi Nimmagadda
San Jose

What is Trump’s endgame with ICE?

I closely watch the news. I mostly watch MS NOW, or whatever NBC cable calls itself today. I’d watch right-wingers like Fox or Newsmax too, but can’t get past 30 seconds without hearing Trump-inspired lies.

What is striking is that no one, even the left, is connecting all the dots to expose Donald Trump’s goal of imposing military rule by provoking insurrection. He isn’t about migrants, deportation or even protest control. He doesn’t care who his thugs shoot. He only cares if they shoot back. This is what he’s waiting for. Once he gets the Army and Marines on your nearest corner, he has them where he needs them to control access to polling places later this year.

Mark my words: the pressure will remain until someone shoots and kills a Trump ICE agent. A nationwide Insurrection Act declaration will follow before the body is even cold.

Robert Wahler
San Jose

Trump is given rope that will hang us all

Clay Bennett’s cartoon, pointing out the relationship between the Epstein file redactions and the flurry of new dramas, while not “funny,” does make chilling sense.

What I don’t understand is why our constitutional guardrails haven’t kicked in. Greenland, Venezuela, Iran, Minneapolis, plus our health care and pocketbooks, have created a world of chaos.

When Joe Biden demonstrated age-related decline at the debate, the nation was quick to anger and dump him. Now we have a president who repeatedly lies, insults people worldwide, is obviously in poor physical health and also shows age-related mental decline, and he is allowed to paint it all over in gold.

As I protest, lawfully, I hope I don’t get shot.

Lura Halbert
Los Gatos