A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

[trumptman]

https://archive.is/kJG5M

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 will 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 $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.

That saying about running out of other people's money when it comes to government couldn't ring more true.

California Tax Rankings

California ranks 48th overall on the 2026 State Tax Competitiveness Index. Explore California tax rankings and see how the state compares.

taxfoundation.org

California is already ranked top 3 in most taxation measurement indexes.

The state's top marginal individual income tax rate of 13.3 percent is compounded by a 1.1 percent uncapped payroll tax, bringing the all-in top rate to 14.4 percent. Additionally, nonresidents must file income taxes if they work even a single day in the state, and California is one of only four states to still impose an alternative minimum tax.

But all that isn't enough. They need an actual proposed wealth tax which means you get taxed on assets that have not changed hands, that are not realized as gains and that are not even liquid.

Democrats love their slaves and here's the thing, even billionaires will be their slaves for you can do nothing nor own nothing without them demanding their share of it.

These proposals have come up several times now and many wealthy individuals and businesses continue to flee Califonia.

To top it off, this measure wants to be applied retroactively. So even if you left before it was voted on and applied, too bad. California is like an abusive spouse you can't escape even with a good restraining order.

The funny think is this is always portrayed as the end state instead of the next logical progression in the total take over. California's income tax rate is already deeply progressive. The rich deliver about 50% of all state revenue. That still isn't enough nor will it ever be enough.

Anyone with a brain should or has fled California.

 

[Manonthestreet]

https://archive.is/kJG5M

That saying about running out of other people's money when it comes to government couldn't ring more true.

California Tax Rankings

California ranks 48th overall on the 2026 State Tax Competitiveness Index. Explore California tax rankings and see how the state compares.

taxfoundation.org

California is already ranked top 3 in most taxation measurement indexes.



But all that isn't enough. They need an actual proposed wealth tax which means you get taxed on assets that have not changed hands, that are not realized as gains and that are not even liquid.

Democrats love their slaves and here's the thing, even billionaires will be their slaves for you can do nothing nor own nothing without them demanding their share of it.

These proposals have come up several times now and many wealthy individuals and businesses continue to flee Califonia.

To top it off, this measure wants to be applied retroactively. So even if you left before it was voted on and applied, too bad. California is like an abusive spouse you can't escape even with a good restraining order.

The funny think is this is always portrayed as the end state instead of the next logical progression in the total take over. California's income tax rate is already deeply progressive. The rich deliver about 50% of all state revenue. That still isn't enough nor will it ever be enough.

Anyone with a brain should or has fled California.

Lots of celebs have alrdy left

 

[otto105]

https://archive.is/kJG5M

That saying about running out of other people's money when it comes to government couldn't ring more true.

California Tax Rankings

California ranks 48th overall on the 2026 State Tax Competitiveness Index. Explore California tax rankings and see how the state compares.

taxfoundation.org

California is already ranked top 3 in most taxation measurement indexes.



But all that isn't enough. They need an actual proposed wealth tax which means you get taxed on assets that have not changed hands, that are not realized as gains and that are not even liquid.

Democrats love their slaves and here's the thing, even billionaires will be their slaves for you can do nothing nor own nothing without them demanding their share of it.

These proposals have come up several times now and many wealthy individuals and businesses continue to flee Califonia.

To top it off, this measure wants to be applied retroactively. So even if you left before it was voted on and applied, too bad. California is like an abusive spouse you can't escape even with a good restraining order.

The funny think is this is always portrayed as the end state instead of the next logical progression in the total take over. California's income tax rate is already deeply progressive. The rich deliver about 50% of all state revenue. That still isn't enough nor will it ever be enough.

Anyone with a brain should or has fled California.

Oh my God, we must act the poor billionaires.

 

[IM2]

So we see that the billionaires don't want to pay their fair share.

 

[struth]

Demafasict polices have had people that could afford to flee California for years now

California is East Berlin

 

[otto105]

Lots of celebs have alrdy left

Yeah, where did rob scheinder go?

 

[otto105]

Demafasict polices have had people that could afford to flee California for years now

California is East Berlin

Was East Berlin ever 5th largest economy in the world?

 

[struth]

Was East Berlin ever 5th largest economy in the world?

Actually at one point it was recorded as the second., that was in 77

But you can never trust the numbers from leftist regimes, so take it with a grain of salr

 

[otto105]

Actually at one point it was recorded as the second., that was in 77

But you can never trust the numbers from leftist regimes, so take it with a grain of salr

Hilarious

And false.

 

[Manonthestreet]

Yeah, where did rob scheinder go?

Ummmm.....ummmmm Where did Julia Roberts go

 

[Manonthestreet]

Yeah, where did rob scheinder go?

25 celebrities who have left Los Angeles on where they moved and why they did it

Celebrities like Matthew McConaughey, Sylvester Stallone, and Chris Hemsworth left Los Angeles for other places that offer privacy and lower taxes.

www.businessinsider.com

 

[otto105]

Ummmm.....ummmmm Where did Julia Roberts go

The Academy Awards.

 

[Manonthestreet]

The Academy Awards.

Wrong again

 

[otto105]

Wrong again.

In addition to a British Academy Film Award, and three Golden Globe Awards.

Rob got booed at cpac.

 

[Manonthestreet]

25 celebrities who have left Los Angeles on where they moved and why they did it

Celebrities like Matthew McConaughey, Sylvester Stallone, and Chris Hemsworth left Los Angeles for other places that offer privacy and lower taxes.

www.businessinsider.com

 

[otto105]

25 celebrities who have left Los Angeles on where they moved and why they did it

Celebrities like Matthew McConaughey, Sylvester Stallone, and Chris Hemsworth left Los Angeles for other places that offer privacy and lower taxes.

www.businessinsider.com

Hilarious

Where do they work?

 

[Manonthestreet]

Not to mention all the homes destroyed by fire in LA that still lay smoldering........wonder where they all went......makes ya go hhhmmmmm

 

[Manonthestreet]

What’s Behind California’s Recent Population Decline—and Why It Matters

California’s unprecedented population loss during the pandemic raises questions about what a shrinking or slowly growing population means for the state’s future.

www.ppic.org

Oh my been leaving for awhile

 

[otto105]

Not to mention all the homes destroyed by fire in LA that still lay smoldering........wonder where they all went......makes ya go hhhmmmmm

Hilarious

maga is so simple minded.

 

[Manonthestreet]

California's Long-Term Population Slide Threatens Its Economy

The state is losing its youthful energy, with more than 4 million people leaving for other states since the start of the century.

www.governing.com