CA Wealth Tax Ballot Initiative Would Allow Legislature to Lower Wealth Threshold.

 Page 26 lets Sacramento convert it to a tax on EVERYONE without your vote.

Section 50310 on page 26 of the 32-page proposal states that the Legislature may amend the Act by a two-thirds roll call vote in both houses, provided the amendment is "consistent with and furthers the purposes" of the Act.

Threshold Changes: Opponents argue this language creates a pathway for Sacramento politicians to lower the wealth threshold, effectively converting it into a tax that could impact ordinary savings, retirement accounts, or property.

Shift in Authority: Under current law, imposing a direct tax on wealth generally requires statewide voter approval. This initiative, if passed, would grant that authority to the Legislature directly, requiring only a supermajority vote (which the current majority party already holds) rather than returning to the ballot.