Billionaires plot to flee California over proposed super wealth tax

Comments

• _chris@lemmy.world ⁨4⁩ ⁨days⁩ ago

  Make billionaires extinct again.

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• Exeous@lemmy.world ⁨4⁩ ⁨days⁩ ago

  “The union proposes hitting Californians worth over $1 billion where it hurts most with a 5 percent tax on every dollar of their vast fortunes.”

  So big tax!!

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  • bus_factor@lemmy.world ⁨4⁩ ⁨days⁩ ago

    If it’s a tax on holdings applied every year, 5% is significant. It’s best compared with property taxes, which is another tax which works in a similar way. Property taxes are often capped at 1% of assessed value.

    I’m in favor of taxing the rich, and taxing their holdings at 5% (without too many loopholes) would exceed my expectations. I expect this to get whittled down to around 1% before actually making it into law, though.

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    • Exeous@lemmy.world ⁨4⁩ ⁨days⁩ ago

      Thank you for information!

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• calliope@retrolemmy.com ⁨4⁩ ⁨days⁩ ago

  They all look so fucking weird

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• infinitevalence@discuss.online ⁨4⁩ ⁨days⁩ ago

  They won’t go and 5% won’t keep inequality from growing.

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• ordnance_qf_17_pounder@reddthat.com ⁨4⁩ ⁨days⁩ ago

  Oh look it’s the false capital flight propaganda once again

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