I don't understand the point of a "one time" tax. What happens once the money runs out a year later? Another "one time" tax?? Why not implement a permanent tax if you want to permanently solve the problem??
It's basically to send a message to a group of people that they should fuck off. There is a reasonable gamut of opinions about whether this is valid. But I think it's fair to say Californians are upset about billionaires, and that this is a coherent way to message that opposition. (Similar to the dumbfuck states messaging around wokeness or whatever. A narrowing minority of America is prosperity first.)