Katie Porter

So we could actually adjust that just slightly and actually provide some tax relief for those corporations that are struggling.

Some are big, some are small, but they're struggling.

And in the most profitable years, we could say to corporations, you had the

You had a banger of a year.

You're going to pay just a little bit more because that's what we say to Californians.

You got a big bonus.

You got more income.

You're going to pay a little bit more.

So that's the first thing.

The second thing is almost all of the volatility in our revenue system comes from the tippy, tippy top.

It comes from capital gains.

not from variation in the income.

So we get over $100 million in income tax every year.

The people paying under $100,000 generate about $8 billion of that.

So it's not a huge, huge fraction.

And I think we can safely say we are going to have corporations that make a profit every year.

I mean, I've pretty much never seen all corporations lose money.

And so I think that's about it.

But the bigger reason to do it is, look, everybody's talking about affordability, to which I say, welcome.

This has really been my life's work.