Jan. 7, 2026 5 AM PT
To the editor: The controversy over the proposed wealth tax on California’s billionaires captures deep frustrations about healthcare-funding shortfalls (“Billionaire tax proposal sparks soul-searching for Californians,” Jan. 2). Supporters see it as a path to shore up Medi-Cal, whereas critics warn it may disrupt innovation and drive expertise away. I share the aim of sustainable healthcare assist, however a billionaire-only tax faces authorized uncertainty and income volatility and dangers capital flight.
Because the Okay-shaped economic system has benefited larger earners, many working Californians can now not afford healthcare. By means of arduous work but additionally unearned benefits, I’ve benefited from that divide.
As a substitute for the proposed billionaire tax, a 0.25% state revenue surtax on earnings above $400,000 may increase comparable funds whereas spreading accountability throughout roughly 700,000 households. Somebody incomes $500,000 would contribute $250 yearly — lower than many month-to-month automotive funds.
Medi-Cal’s sustainability relies on dependable income and broad civic assist. True solidarity means those that’ve prospered contribute proportionally, not pitting teams towards each other. A shared base strengthens each funding stability and public belief.
Thomas Klitzner, Culver Metropolis
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To the editor: It’s arduous to learn the whining from billionaires against a one-time tax that might assist present healthcare to the state’s most susceptible populations. Billionaires are threatening to take their riches out of state if this have been to cross. We’re speaking about roughly 200 folks with greater than they may spend in a lifetime. What’s notably galling to me is that I by no means hear any billionaires complain in regards to the many tax breaks President Trump has given them.
The One Huge Stunning Invoice Act is just lovely for the wealthy. In accordance with an evaluation by the Joint Committee on Taxation, below the act, a median family making lower than $15,000 per yr will see a tax improve of greater than 9% in 2027. In the meantime, folks making greater than $1 million a yr will see their taxes go down by $97,000. Once more, I haven’t personally examine or heard anybody making greater than $1 million expressing opposition to their very own tax break. And with this new proposal, solely billionaires will probably be affected.
The ultra-rich Californians say they’re bored with “feeling focused.” What in regards to the residents working two jobs a day to afford meals, baby care and healthcare whereas the federal government cuts SNAP advantages and Inexpensive Care Act subsidies? The place is the compassion? The place is the humanity?
Peggy Jo Abraham, Santa Monica
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To the editor: Cities, states and nations that levy large taxes on the wealthy drive their millionaires and billionaires to tax havens. Town of Los Angeles put a “mansion tax” on its luxurious properties. What adopted was luxurious householders like Brad Pitt and Mark Wahlberg selling their homes in L.A. proper earlier than the tax took impact. Slowly however absolutely, the wealthy L.A. people are transferring to cities like Calabasas or to seaside cities.
Now, the state desires to tax billionaires to the tune of 5% to prop up Medi-Cal. Now greater than ever, states like Texas and Florida, which have no state income taxes, are trying good to California billionaires who don’t need to pay tens of hundreds of thousands to bolster their state’s economic system. As I see it, the billionaires make use of tens of 1000’s of individuals in California, so the politicians ought to cease incentivizing a few of their finest employers to go away the state.
Mark Walker, Yorba Linda
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To the editor: To those that say {that a} wealth tax on billionaires will kill entrepreneurship and innovation, I’d prefer to remind them of a 2025 study by the nonpartisan Rand group that seemed into revenue and wealth inequality. It concluded that, from 1975 to 2023, about $79 trillion in wealth was transferred upward from the underside 90% of People to the highest 1% of People. Isn’t this obscene?
Billionaires and massive companies complaining that such a wealth tax would quantity to a horrible class conflict don’t point out that we’ve been in a category conflict for many years — however it’s been one-sided, waged by the wealthy towards extraordinary People. A wealth tax on billionaires that might barely contact the huge fortunes they’ve could be an excellent begin in correcting that loopy imbalance.
Bear in mind: The larger the wealth hole in a rustic, the extra probably that nation is to show away from democracy and embrace autocracy, as we’re at the moment seeing right here.
Zareh Delanchian, Tujunga
