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.

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[+] -6 points 10 months ago (3 children)

5% is a pretty high wealth tax, so I actually find this credible.

As rough as property tax can be, 5% would be crazy. Imagine being told you owe 25,000 dollars because Zillow shows houses near you selling for 500k...

I prefer the concept of stock secured loans counting as income.

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  • [–] 1 point 10 months ago*

    the issue isnt being taxed...it's knowing with 100% certainty that your taxes are just going to pad the pockets of some rich fuck somewhere instead of back into the public good (like taxes are supposedly for), something that's true under both dems and republicans, dems just atleast put on a believable veneer

    there's a dozen different ways to grab the $ back from these motherfuckers, the biggest issue there is the US's halfassed federal system gives em 50 different ways to weasle out and ratfuck safely from somewhere else.

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