politics
California Billionaire Tax Act Qualifies for November Ballot
California’s secretary of state announced last week that the Billionaire Tax Act has qualified for the November ballot. The measure would impose a one-time tax on billionaires and raise an estimated $100 billion over five years. A federal report links the revenue need to welfare spending on illegal immigrant households.
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California’s secretary of state announced last week that the Billionaire Tax Act has qualified for the November ballot, Washington Examiner reported. The initiative, backed by the state’s labor movement, would impose a one-time tax on individuals with assets exceeding $1 billion. The measure is estimated to raise $100 billion over five years.
A new Department of Health and Human Services report states that California will need the revenue to sustain welfare payments to the state’s millions of illegal immigrants. California spends billions of federal and state taxpayer dollars on Medicaid benefits for illegal immigrants.
Illegal immigrant households also collect thousands of dollars in benefits for their citizen children through food stamps, Supplemental Security Income, and the earned income tax credit.
The state permits illegal immigrant households to receive Temporary Assistance for Needy Families payments. An HHS report released this month found that 70 percent of all illegal immigrant households nationwide receiving TANF payments live in California, at an annual cost of more than $200 million to federal taxpayers.
California’s Legislative Analyst’s Office estimates that the average CalWORKs grant is $999 a month this year.
