You must log in or register to comment.
They’re not doing anything for me. Let them leave.
Like they left Mamdani’s New York 😄
They can live on their yachts.
Even if it were true who cares? If they aren’t actually paying taxes then what is the point in having them?
“But look at all the jobs we’re creating!”
-Billionaire CEO who just announced a new round of layoffs
I think they view us as a bank. We need to make them money or they will transfer to another bank. Simple.
That is very very apt
Plus sometimes banks have perks that keep the customer staying after all, and I believe I’ve heard of various scandinavian billionaires, for example, threatening to leave but then staying because their country offered them benefits beyond even their ungodly wealth
TricklePiss down economics.Hold it all in till your kidneys fail before even sharing a sliver of their wealth economics.
They already trying to change California’s Constitution to prevent taxing their wealth:
The amendment defines Retirement holdings, individually-owned assets, and other forms of personal savings to include “pensions; retirement accounts, including but not limited to 401 (k) accounts, 403(b) accounts, and all other individual retirement accounts; mutual funds; and all personal property, whether tangible or intangible, including but not limited to financial assets, investment accounts, business interests, digital assets, intellectual property, personal belongings, and other assets used to produce or collect income or savings for retirement or financial planning.”
Jesus, that’s an Orwellian bill name.
My biggest concern is:
Ballotpedia has not located a campaign in opposition to the ballot measure. You can share campaign information or arguments, along with source links for this information, with us at editor@ballotpedia.org.
If no one is declaring opposition, this will definitively pass.
At that point is there anything that doesn’t fit this definition? xdd
I guess income that goes to luxury things such as groceries and bills would still get taxed
“This morning we got the updated numbers for fiscal year 2026 for capital gains … it came in at $1.5 billion,” economist Dave Reich told state lawmakers earlier this month. “So a very significant increase, quite a bit above our forecast from what we had before.”
This is understating things by a fair bit. Last year this tax raised $584 million. So the revenue, which is a preliminary figure pending delayed returns, appears to have nearly tripled in one year. It quadrupled from the year before that.
This is not what the critics of tax-the-rich schemes said should happen. They predicted tax proceeds would deteriorate as rich people moved away or structured their finances to avoid paying it.
Yeah, rich people do what they want to do, leaving isn’t one of them. They make too much money where they are, why would they leave. They need us way more than we need them
What is it people say? “It doesn’t hurt to ask.” In this case, billionaires can save a pretty penny by paying a few “influencers” and “intellectuals” to doomsday the tax away. In reality, the pittance they pay in wealth tax is not reason enough for any of them to move.
Even if they have to pay a 5% one-time wealth tax (CA proposal), that’s nothing compared to what ordinary people have to pay in taxes, and ordinary people actually need that money.
The Epstein class deserve to be binned. They’re worse than garbage. They’re parasites.
With such wealth they should fall under military rules, you run, you run with wealth stolen from the country and could become a threat to the country, you will be classified as a traitor and enemy and will be pursued militarily. Total loss off all assets and potentially terminated. That would be the solution.
American citizens can’t escape the tax man. Unless you renounce your citizenship.
And if you’re REALLY that scared of a myth, put a progressive exit tax on their wealth. 100% over 1 billion. They built that wealth by exploiting America and its working class, so it’s just a repossession at that point.
Love the idea. Don’t even need to go after any personal wealth they have, just all the stocks. Chief exploitation manager leaving? Great. Get out. Take your Ferrari and your Villa. Keep it. But you get to stop exploiting people on the same day.
You know how billionaires always compete in having the most expensive house, yacht, space company or whatever.
Make them complete over the most expensive country to live in for billionaires. Show of your wealth by living here!
Can we just skip to the eating billionaires part? There are clearly some lessons that need to be made so they may be learned.
This is the funny thing: Realistically they won’t leave, they would simply leverage their wealth to support opposing parties, prop up their own political marionettes, invest their money in campaigns to ruin the credibility of their adversaries or simply letting them disappear as a measure of last resort.
Some leave but most won’t.
They’ll get up, pack up all their factories and all physical assets and move one country over. They have special moving companies that offer this service specifically.
Even Warren Buffet said most wealthy people don’t leave even during the time when the wealth tax was higher.
They move the factory though. Even if you don’t raise taxes.
Just to be clear: I made a joke. I don’t think moving factories is a thing :') that’d be ludicrous.
Mostly only done during war. Ukraine is doing it, and Russia did it in WW2. Usually you also move the employees.
Oh yeah, totally. It’s mostly about building a new factory somewhere where they are allowed to exploit the workers harder, and shutter the original one. They don’t just load the building into an Antonov or something.
This is why I favour a global corporation tax.
Great, this way money will circulate in the economy again instead of getting hoarded by a small minority
I say someone will replace them if their business is needed. If it’s not needed then them leaving isn’t a threat.
Gary Stevenson would like a word in.
He is quite clear that yes they can leave, and we can tax them at the point where money is created instead of abroad where we have no influence.
They can move, but their properties remain over here
Somehow this is really mesmerizing.
It’s the shorts.
Don’t try this at home unless you have any trash flung all over the yard.
Must be an expensive trash bag. I’d be picking egg shells off the lawn after trying that.
What’s the use of billionaires if you can’t use their fancy trash bags when you bin them.
