Indivisible SF Believes: Progressive Taxation Is the Democratic Choice
Indivisible SF endorses YES on California Prop. 40, NO on 41, NO on 42, and NO on 43.
In California, and especially in San Francisco, extraordinary untaxed wealth exists alongside underfunded public needs. Progressive taxation is how we turn some of that private abundance into broadly shared prosperity. Yet although high wage earners do pay more in California, billionaires who hold their wealth in financial assets and property pay nothing or next to nothing. Such a gap is extremely damaging to our democracy and everyone else’s wellbeing. Indivisible SF will always choose redistribution over austerity because we view a strong social safety net as fundamental to democracy. This is why we strongly endorse the following positions on statewide ballot measures:
YES on 40: A one-time 5% tax on wealth above $1 billion, primarily funding health care. The state estimates it would raise tens of billions of dollars, of which 90% would be allocated for health care, and 10% for food assistance or education-related programs.
The devastating impacts of H.R.1 will go into effect January 1, 2027. Republicans in Congress delayed its implementation because they understood how disastrous the midterms would be for the Republican Party if voters experienced millions of Americans losing their healthcare before heading to the polls. However, the H.R.1 cuts are fast approaching and Prop 40 is the only solution that has been put forward to avert a healthcare disaster in California.
If we do nothing, over a 1 million Californians are projected to lose Medi-Cal coverage. Because of the sheer scale of Californians expected to lose their health insurance, hospitals across the state fear closure and all of our healthcare costs will rise. We can avert this disaster by passing Prop 40.
NO on 41: Reject new billionaire-backed constitutional constraints around how California can raise and spend dedicated tax revenue. The only point of this proposition is to interfere with Prop 40. If Prop 41 receives more votes than Prop 40, Prop 40 will be nullified.
NO on 42: Prop 42 would constitutionally prohibit new state taxes on financial assets and other personal property. Again, this is just rich opponents of Prop 40 trying to keep their massive wealth as untouchable as possible.
NO on 43: Don’t make Californians surrender a tool for funding local needs. Prop 43 would constitutionally require a two-thirds vote for voter-initiated local special taxes rather than a simple majority. Prop 43 makes voter-led progressive local taxes harder to enact.
In a world where Prop 43 already passed, several ISF-endorsed propositions like H to save Muni, I to fund affordable housing, and RTM to save BART would require a two-thirds vote to pass - an unnecessarily difficult threshold to clear.