A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

Heard the same shit about with mamdani in nyc. Dont belive the elite class propaganda.

They said the same in Massachusetts and then didn't https://www.wonkette.com/p/massachusettss-millionaire-tax-still

Oh no! The people who hoard all the money and don't pay taxes might leave?

They won't. They won't pay to completely recreate things like Silicon Valley and Hollywood elsewhere.

Just like they're not leaving New York despite saying they would. All the Finance infrastructure is there, they won't recreate it from scratch elsewhere.

"A Wealth Tax Floated in California Has Billionaires Pretending They're Thinking of Leaving."

There. Fixed the headline.

Direct any questions to The Myth of Millionaire Tax Flight by Cristobal Young, an actual comprehensive scientific study on the issue. You can guess from the title what the data showed.

They won’t. But this is why all of America should tax billionaires. And the individuals that do leave, those are the problem in your country and state.. if they leave you don’t want them there in the first place, other states shouldn’t want them either. Greedy bastards.

Tax is to keep all in balance, cause they profit from all, they should give some back.. there needs to be a balance.

No they won’t. 😂

No it doesn’t. It has them threatening to leave while having no intention of leaving. Just look at NYC after Mamdani, or the 500 million MA has collected after passing their wealth tax and no one left.

They always say that but never do. They love their palaces and the local status it gives them. They aren't going anywhere. Humans hate change.

"LET US COLLECT MORE MONEY THAN ANYONE WOULD EVER NEED OR WE'LL LEAVE!"

How would that be bad?

Oh no, the people who make everything worse AND more expensive are upset and will leave! Oh no, how terrible! How will the place survive without these parasites?
Please, PLEASE, won't someone think of the trickling down of their diarrheasorry, I meant the trickling down the very verrrrrry small amount of money they are forced to part with, not diarrhea.

Yes, what every city needs is more parasitical leeches sucking the place dry, not less!!!

They won't though. Whiny babies

No. They won't.they said the same in MA, they sais the same in CT, they said the same in NY, and forever in NJ.

Stop trying to make them leave because for them there's nowhere to leave.

Good

Win/Win?

And go where? Your wealth is tied to a physical location.

Tax the shit out of them, until they do leave, and go to a state that will cater to their every whim. Eventually, they'll all end up in Texas, where they can exploit anyone and everyone stupid enough to remain there and take it.

The moves are being driven by a potential California ballot measure from the health care union, Service Employees International Union-United Healthcare Workers West, the people said. The proposal calls for California residents worth more than $1 billion to be taxed the equivalent of 5 percent of their assets. If the measure gains enough signatures to reach the state ballot in November and wins approval, it would retroactively apply to anyone who lived in California as of Jan. 1, 2026. Those with $20 billion in assets who resided in the state on that date would face a one-time tax of $1 billion and have five years to pay it, according to the terms of the measure. Whether the proposal will reach California’s ballot is far from certain, but some billionaires may be unwilling to take the risk. For Mr. Page, whose net worth is estimated at around $258 billion, the measure could result in a one-time tax of more than $12 billion. The tax bill for Mr. Thiel, whose net worth is around $27.5 billion, could be more than $1.2 billion. Representatives for Mr. Page and Mr. Thiel did not respond to requests for comment.

This is just pure greed and hatred for the people who made them.

"Doctor, how can I continue to live a meaningful life without my tapeworm?"

Said nobody ever.

Absolute win.

We should take more than their wealth

Let's float that wealth tax everywhere. All the space ship billionaires will have no where to go but mars. They already have the space ships.

Let them

Then tax them more if they try to do any business in California.

It’s a win-win.

I guess housing complexes will just have to be owned by millionaires then.

Good

California created these evil tech monsters. This should have been done decades ago but it’s badly needed. Bye Felicia. I can’t wait until they hide in their graves…I mean bunkers

It would create much more jobs to have competition in the markets that billionaires control

Awesome.

I'm sure somehow everyone will just muddle through with their departure.

South Korea has the death penalty for people who perform capital flight. So let the billionaires leave, but not as billionaires.