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Started By
Message
1
Posted on 10/30/25 at 2:37 pm to AlterEd
quote:
You can bet a lot more wealthy people are going to leave commiefornia at this news.
They have even thought about that and are trying to make it retroactive to 1/1/26. If it were to pass and be enforced (big if), billionaires essentially have 60 days to relocate out of the state.
The lawsuits will be wild and my guess is this would make it to SCOTUS which would shoot it down.
Posted on 10/30/25 at 3:04 pm to AubieinNC2009
Socialism/Communism works till you run out of other people’s money
Posted on 10/30/25 at 3:08 pm to dickkellog
quote:
top federal bracket MFJ 37% on every dollar over 731k top california bracket 12.3% on every dollar over 900k added together that's 49.3%.
you're just genuinely stupid aren't you, you haven't had much of career, you don't how any thing works. good ol fashion country stupid.
You think most billionaires have regular W-2 wages to get that wealthy?
Posted on 10/30/25 at 3:09 pm to BeepBopBoop
quote:
Tell Phil Mickelson that.
I would but he isn't a billionaire
Posted on 10/30/25 at 3:12 pm to BayouBandit24
quote:
How do you tax based on net worth? These huge billionaires don’t have all that money liquid.
Posted on 10/30/25 at 3:12 pm to AubieinNC2009
quote:
If this passes you can bet it won't just be 1 time
Or just 5%. The next time it will be 10%. Then 15%. They'll keep going until they bleed them dry or they leave.
Posted on 10/30/25 at 3:26 pm to Powerman
quote:
You think most billionaires have regular W-2 wages to get that wealthy?
a potion of any CEO's compensation is W2 wages, i also know that billionaires have taxable income and i still know that you don't know schit.
Posted on 10/30/25 at 3:33 pm to dickkellog
quote:
a potion of any CEO's compensation is W2 wages
A very small fraction of their compensation
Posted on 10/30/25 at 3:34 pm to AubieinNC2009
This is the political equivalent to "just the tip."
Posted on 10/30/25 at 4:27 pm to AubieinNC2009
What is it with democrats that they think rich people are just sitting around on big piles of cash?
The wealthy leverage their money, only keep enough cash on hand to cover immediate expenses.
Divestment is the only response to a tax like this. Or they take it out of their charitable contributions for the year.
The wealthy leverage their money, only keep enough cash on hand to cover immediate expenses.
Divestment is the only response to a tax like this. Or they take it out of their charitable contributions for the year.
This post was edited on 10/30/25 at 4:28 pm
Posted on 10/30/25 at 4:43 pm to AubieinNC2009
quote:
If this passes you can bet it won't just be 1 time
I'll take that bet.
If Zuckerberg gets a state tax bill for $9.25B .... there won't be a second time.
Posted on 10/30/25 at 4:49 pm to AubieinNC2009
Ahhh... the old wealth tax.
Makes Liz Warren moist.
Makes Liz Warren moist.
Posted on 10/30/25 at 5:24 pm to AubieinNC2009
How many billionaires does he tink live in CA? At 50 million a pop you need 600 to cover 30 billion...
Obviously some are worth more than 1 billion but I just don't see how they cover that amount with a 5% tax.
Obviously some are worth more than 1 billion but I just don't see how they cover that amount with a 5% tax.
This post was edited on 10/30/25 at 5:25 pm
Posted on 10/30/25 at 5:26 pm to Powerman
well there is the AMT tax of 28% vs federal top rate of 37%. Also don't forget the net investment tax of 3.8%.
Posted on 10/30/25 at 5:28 pm to Antonio Moss
quote:
So if the billionaire’s worth is tied up in non-liquid assets like business property and infrastructure, will this law require them to sell off assets/lay off labor to pay the tax bill?
Liberals don’t understand this.
Whenever they read that so and so has a net worth of $5 billion, they truly think that person has $5 billion dollars in cash just sitting in accounts.
Posted on 10/30/25 at 5:49 pm to Powerman
quote:
This is a stupid idea, but these guys aren't paying over 50% a year
What sort of idiocy are you dreaming of?
13% is the top tax bracket in CA.
They are certainly around 50%
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