Democratic candidate for governor Xavier Becerra has again stated his opposition to a proposed wealth tax on California billionaires, according to a report from www.orangejuiceblog.com. Becerra reiterated his stance on Friday against Proposition 40, which proposes a one-time 5% wealth tax targeting the state's billionaires. The candidate previously told Politico in January that the measure was “sketchy policy,” but did not provide further details at that time, as noted by the Orange County-focused publication.
The “No on Prop 40 campaign” has voiced strong opposition to the ballot initiative. A statement from the campaign indicates a broad coalition standing against Proposition 40, including Governor Newsom, Becerra, the California Teachers Association, California Professional Firefighters, and Planned Parenthood Affiliates of California. The campaign contends that the proposition is “bad for our budget, bad for our economy, and bad for our future.” It further argues for “smart, durable solutions” to the state’s significant challenges, rather than what it describes as “unreliable, untested schemes” that could potentially “shortchange healthcare, education, and public safety.”
Providing an analysis of Becerra’s position, www.orangejuiceblog.com highlighted several aspects of his approach to legislation. The blog post suggests that Becerra dedicates substantial effort to ensuring proposed laws are properly drafted and “waterproofed,” emphasizing their durability and clarity. Additionally, the analysis indicates that Becerra places a high value on realism and a thorough consideration of all potential consequences of new policies, irrespective of public sentiment. The blog also drew a comparison, noting that Becerra is considered more progressive and less “smarmy and suspect” than Governor Newsom, likening his governance style to that of Governor Jerry Brown during his 1975-1983 tenure, which the blog described as the best governorship California has seen since his father, Pat Brown.
Becerra’s criticisms of the wealth tax, particularly concerns about it being treated as a one-off measure and the potential for funds to be spent “profligately like a drunken legislator,” are described as “well-taken” by the Orange County blog. The publication elaborated on the concern that such a new source of money could be spent “quickly, perversely, and opaquely by actors we don’t trust,” leading to negative outcomes without realizing any of the potential positives. The blog suggests that preventing such issues would require “careful planning and legislative planning,” which it characterizes as an approach Becerra “relishes.” Despite these potential pitfalls, the blog’s author indicated a possible vote for the measure, operating on a “best is the enemy of the good” rationale, while still believing the policy could be significantly improved with more deliberate design.
In a related development, an Irvine Company unit has made a donation to Xavier Becerra, a detail also noted by www.orangejuiceblog.com.
