Legislative Blog
J.B. Williams, J.D.
No Wealth tax
A Blog about Constitutional No wealth tax
A Bit of Background
The following backgrounds help summarize the author's views on both the general topic: Texas and more specifically Constitutional No wealth tax as it relates to that topic.
Brief Summary of Texas
Texas is truly a Republic. There are a multitude of items that to modify the state constitution must be modified. So there are times when Constitutional amendments are on the voting ballots. While I sometimes abhor the wording, the concept that all of those legally able to vote in Texas must vote on the change is a good one. And bills in Texas are generally short, making it easier for everyone to understand.
Summary of Constitutional No wealth tax
Proposition 3 - YES; No Wealth tax up for Constitutional Amendment
Blog Summary
A way of putting into the Texas Constitution a prohibition against a wealth tax.
No Wealth tax
Published: 2023-10-13
This Act, if passed by voters, would prevent any future imposition of an individual net worth or wealth tax without Constitutional amendment.
'The legislature may not impose a tax based on the wealth or net worth of an individual or family, including a tax based on the difference between assets and liabilities of an individual or family.'
It is extremely straight forward proposed Constitutional Amendment. This would not prevent the voters from later deciding to impose this but it would take an amendment to the Texas Constitution to do it. I believe this is a great idea. The more ways the legislature is limited the better. This ensures the power lies in the hands of the individuals where it belongs. Not to mention states that have considered this have begun loosing a multitude of the wealthier individuals in their state. Those individuals often also provide companies and jobs to the people.
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