The amendment defines Retirement holdings, individually-owned assets, and other forms of personal savings to include “pensions; retirement accounts, including but not limited to 401 (k) accounts, 403(b) accounts, and all other individual retirement accounts; mutual funds; and all personal property, whether tangible or intangible, including but not limited to financial assets, investment accounts, business interests, digital assets, intellectual property, personal belongings, and other assets used to produce or collect income or savings for retirement or financial planning.”
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If no one is declaring opposition, this will definitively pass.
They already trying to change California’s Constitution to prevent taxing their wealth:
https://ballotpedia.org/California_Prohibit_Taxes_on_Retirement_Holdings_and_Personal_Savings_Amendment_(2026)
Jesus, that’s an Orwellian bill name.
My biggest concern is:
If no one is declaring opposition, this will definitively pass.
At that point is there anything that doesn’t fit this definition? xdd
I guess income that goes to luxury things such as groceries and bills would still get taxed