Tech billionaires are making plans to bail on California ahead a possible ballot measure that would tax their assets to help pay for healthcare.
Sources told the New York Times that venture capitalist Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state.
Ooo let’s make it nationwide then
% of profits made in the state off standard pricing, tax the company. The company can choose to not sell their products in the state. If Google/Apple/whomever decides they don’t want their products used in the state and lose 40m customers, that’s their choice.
Go one further. If a company doesn’t want to make it’s product available in an area, that area has full access to all of its intellectual property and anyone can duplicate their work and profit off of it.
And while your at it have a mandatory hazard pay for employees that have to deal with customers to act like assholes. If acting like an ass to people doesn’t have any penalties people will always feel like they are entitled to act like such, and slowly drive people to suicide. If the company has to pay the hazard pay, they’ll actually figure out policies to ensure they treat others how they want to be treated, or it’ll be cheaper to tell that customer to bugger off.
Acting like an ass shouldn’t ever get you anywhere but asked to leave
Earthwide 😏
“Leave” as in claiming their primary residence is in Florida while spending all of their time in California.
California is pretty strict about taxing you if you spend too much time there.
I’m in Washington state (no state income tax) and have had colleagues who’ve spent a lot of time in California warned by payroll that they’re approaching the limit on time before you’re deemed a tax resident (maybe 180 days per year, but I’m not sure).
In particular, any part of a day spent in California counts as a whole day, as I understand it. So if you fly in on Monday evening, spend Tuesday and Wednesday, then fly back Thursday morning, it’s 4 days.
I think Tennessee is the new hotness for tax free residency.
They won’t leave. They’re just trying to scare idiots into voting for policies that only benefit the rich and their ilk.
Exactly they won’t move, this is like when people threaten to move if something happens, and when it does happens, nothing.
No, didn’t you hear, everyone with more than $100 in savings fled New York now that Mamdani is the Supreme Leader there
If they weren’t paying taxes in the first place, their departure only improves the environment.
A.) No they’re not
B.) If they do, then good for everyone in California. Let them dodge taxes elsewhere.
Right? These fucking billionaires act like they’re existence is some kind of grace to everybody around them. As if they just exude money instead of continually extracting it from the economy making the lives of everyone around them worse.
‘Flee’?! Like cockroaches when the light is turned on?
The ultra wealthy said the same thing about New York City, they aren’t going anywhere.
Threatening people with a good time? A bold strategy Cotton!
If you can’t contribute anything but only take take take, then get the fuck out of the whole country while you’re at it. And stay out!
I fear you have fundamentally misunderstood Capitalism and all it stands for.
Please elaborate
No I don’t and that’s why I hate it.
This How Money Works video talks about these hollow threats. In short, they probably would leave anyway.
This happened in NJ and the billionaire who “left because of taxes” has both returned to the state since and pretty consistently stated he did not leave because of the tax hike and never said that was his motive. While I am sure these scumbags will do whatever is necessary to avoid paying taxes my point is don’t expect the media to not propagandize here.
The narrative being built is clearly one to make the average person think “increasing taxes on the wealthy will hurt us!” This is what happened in New Jersey. “If the tax increases are passed and David Tepper leaves it will cost the state hundreds of millions of dollars and ruin everything!”. It’s that domestic abuse shit; “you should just let me exploit the fuck out of you and if you don’t I’ll bail and it’s your fault for not letting me continue to do so”. Also fwiw while Tepper left NJ was fine and while his loss was notable to the tax budget it was not insurmountable by any means. NJ and California are already quite wealthy states.
If the billionaire class really had taxes as their top priority, or even near the top; they would have moved to Nigeria or something a long time ago. Instead, they stay in “commie-fornia” with high taxes … wonder why??? [because of so many reasons, from infrastructure to knowledge base…]
You don’t have to sell it to me I was already in
Your taxes don’t mean shit to the state if all you do is look for reasons not to pay them, and don’t pay them.
Let them flee all the way to Russia. Billionaires shouldn’t exist in the first place.
