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The California billionaire tax is headed to the ballot.The ultrawealthy are bracing for what comes next.
(www.businessinsider.com)
this post was submitted on 28 Jun 2026
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Is one time even a tax? Why not recurring
Make it 1% and make it yearly.
Make it 10, make it yearly, and make examples of a couple of them in advance.
Fr fr
You're not thinking about the headlines. This looks like a war chest.
Recurring would be nice, but they would move away immediately.
We need to have international regulation that set a minimum wealth tax, so the billionaires can't escape it.
Until then it has to be modest like 0.5% to have a chance to work.
Citation needed.
People always say this, but I haven't seen it play out that way. That was the narrative for NY before Mamdani won as well. It was claimed the wealthy would all flee the city. And then it didn't happen. It just seems stupid that we keep defeating ourselves before we even attempt it.
Just pass actual taxes on the wealthy. If they flee, then oh well. What is anyone losing? They already weren't paying taxes. They are parasites. If parasites leave, that doesn't seem like a loss.
That was the narrative in Ma before the extra tax on income above $2M and it ended up raising even more money than predicted.
They won't move, this is where they make their money. They need us more than we need them
Right? Where are they going to go? You can't take your real estate with you. You can't pick up culture and move it.
do move on you indolent scum!