00:00Proposition 42 is one of two propositions on the November ballot that were placed there to counteract Proposition 40, the
00:07billionaire tax.
00:08Proposition 42 goes directly at the billionaire tax by stating that personal property and financial assets are not taxable in
00:17the state of California,
00:18at least until they're sold and there's capital gains or income somehow from these assets,
00:22but it goes directly against what the billionaire tax is trying to do by taxing the wealth of Californians.
00:29Proposition 42 and Proposition 41, its companion proposition, would also cancel out Proposition 40 even if Proposition 40 passes
00:37because these two anti-billionaire tax provisions have provisions in them that say that if they get more votes than
00:43the billionaire tax,
00:44then they win and the billionaire tax fails.
00:47These propositions were both placed on the ballot by Building a Better California,
00:51which is an organization started by Sergey Brin, the co-founder of Google,
00:55to fight the billionaire tax and save what he and others consider a vulnerable investment climate in California.
01:00Proposition 44, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google, the co-founder
01:00of Google, the co-founder of Google, the co-founder of Google, the co-founder of Google,
