CA State Rep. Carl DeMaio is vowing to defeat a new tax scheme being advanced by CA Democrat politicians to impose a massive “Wealth Tax” that would impose a lump-sum 5% tax on the “net worth” of any Californians the politicians define as “rich.”

The proposal is a “Savings Tax” that would tax your savings account, retirement account and even the value of your home. If enacted, California would become the first state in the nation to impose this tax – on top of income tax, sales tax, gas tax, property tax, death tax, and more!