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Bernie Sanders and Gavin Newsom become adversaries over push to tax California billionaires (apnews.com)

submitted 1 day ago by geneva_convenience@lemmy.ml to c/progressivepolitics@lemmy.world

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LOS ANGELES (AP) — As national Democrats search for a unifying theme ahead of the fall’s midterm elections, a California proposal to levy a hefty tax on billionaires is turning some of the party’s leading figures into adversaries just when Democrats can least afford division from within.

Bernie Sanders will be in Los Angeles campaigning Wednesday for the tax proposal that has the Silicon Valley in an uproar, with tech titans are threatening to leave the state. Democratic Gov. Gavin Newsom is among its outspoken opponents, warning that it could leave government finances in crisis and put the state at a competitive disadvantage nationally.

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[–] pelespirit@sh.itjust.works 21 points 1 day ago (2 children)

My personal opinion is that these wealthy people are already a drain. They use all of the resources without paying back into the system. Why would anyone care if they leave?

The Billionaire Flight From Wealth Taxes Myth

Digging deeper into the economic literature on whether wealth taxes cause billionaire flight is extensive—and remarkably consistent. Across countries, time periods, data types and research methods: wealthy households are far less mobile than public debate suggests.

https://www.forbes.com/sites/teresaghilarducci/2025/12/29/do-wealth-taxes-really-make-billionaires-leave/

[–] Numinous_Ylem@lemmy.world 11 points 1 day ago

Exactly. Make em pay or make em leave. These people dont need to be coddled -- they need to be taxed out of existence

[–] crusa187@lemmy.ml 10 points 1 day ago (1 children)

They’re hardly taxed anyway, and for most of them leaving is 100% a bluff. The expense of actually uprooting is enormous for an established titan of industry, as your source alludes to.

Just fucking make them pay taxes already, this is ridiculous.

[–] Viking_Hippie@lemmy.dbzer0.com 6 points 1 day ago

The expense of actually uprooting is enormous

And even if it wasn't, it would be severely inconvenient. That's a MAJOR dealbreaker for the most pampered group of people in the world.