Comment Re:Going to be interesting in CA (Score 1) 42
> Once, the one time 5% is spent the state will have to figure out how to do the one time 5% more than once to keep feeding the spending machine.
The money to be raised is already budgeted as a separate fund for a specific purpose. It is not intended to be general funds nor is it intended to be ongoing funding.
Think of as a bond. When the government wants to raise money for a project or investment in the future, they will often issue and sell bonds to raise that money. Bonds mature and pay back with some interest, and are not recurring or factored into the normal budgeting.
This is functionally the same thing, except instead of borrowing via bonds and paying back with interest, it's just a straight up tax on billionaires.
=Smidge=