“Easy Peasy”

Carmel Pine Cone, Sept. 18, 2026

Mads Bjerre’s letter “taxing billionaires” is misleading. If passed on Nov. 3, Prop. 40 could easily apply to almost anyone, not just billionaires. Hidden in the fine print of the tax measure, Prop. 40 allows future legislatures to change billionaires to millionaires, or even to thousandaires, with a simple roll-call vote. No new law, no new proposition. Easy peasy.

Tax proponents argue that homes and real estate are excluded, but the measure includes a mechanism to remove that exclusion without a vote of the people. Future taxes can be attached to people’s property, savings, investments, and retirement accounts with a simple roll-call vote in Sacramento. This is a massive loophole to squeeze the taxpayers until they end up impoverished or forced to move to another state.

Prop. 40 is not a one-time tax; it is an assault against everyone’s property, future income, and assets.  Sacramento’s tax-hungry politicians can redefine who gets taxed, what assets get taxed, and how far those taxes extend. The political elite simply want to circumvent Prop. 13 and take away as much money as they can in perpetuity.

The “billionaire tax” is a sophisticated Trojan Horse. It is a deceptive way to heavily tax citizens in the future, no matter how little they make. If you don’t want to be taxed to the poorhouse, vote No on Prop. 40!

Lawrence Samuels, Carmel