Election Proposition 3

Propositon 3 on the November ballot would amend the Texas Constittion to prohibit a wealth tax.on the value of a persons assets less liabilities owed.

Proponents for the amendment say Texans should not be penalized for creating wealth and starting businesses which help the Texas economy grow, and some taxpayers may have huge assets, but low cash flow.

The arguments against Prop 3 say the state needs to maintain the option of a wealth tax burden to those able to afford to pay more helping to address wealth inequality, and the proposed tax amendment addresses a tax that is not being considered by the state legislature