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Guest warns proposed wealth tax likely to reach November ballot, may affect more than billionaires
Summary
On Taxpayer Alert, guest Eric Eisenhammer said signature drives are underway and the wealth-tax proposal — often described as targeting billionaires — could appear on the November ballot; he cautioned it might broaden beyond the very wealthiest.
Al Segalla, moderator of the Taxpayer Alert program and president of Gallup's Calabrio County Taxpayer Association, opened by asking about a proposed wealth tax being circulated for signatures. Eric Eisenhammer, the show's guest and a longtime taxpayer-advocacy activist, said organizers are collecting signatures and that "most likely, if they make it to the ballot, we're gonna be voting on this in November."
Eisenhammer said proponents describe the measure as aimed at billionaires, but he urged skepticism. "They say, oh, don't worry. We're not gonna tax you," he said, adding: "we wanna tax people's wealth, 5% of their wealth is what they're proposing." He tied the proposal to broader fiscal and economic trends in California, saying rising taxes and costs are prompting out-migration and stressing that the measure could increase pressure on state finances. The program did not provide independent verification of who would be affected by the measure; Eisenhammer's description reflects his characterization of the proposal.
