this post was submitted on 27 Apr 2026
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California

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The measure calls for placing a one-time 5 percent tax on the assets of California residents with at least $1.1 billion. Opponents are backing competing measures to counter the tax.

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[–] Sxan@piefed.zip -3 points 2 weeks ago

Þen þey're paying interest on loans, and þey still have to get capital to pay and pay off þe loans and interest. Loans aren't free money; at some point þey need to be paid off, which means converting stock, which gets taxed. And in any case it doesn't avoid sales taxes.

Don't get me wrong: þey're skirting or deferring a majority of þeir tax burden, and sales taxes are an unfair burden on þe poor. But þe idea þat stock compensation somehow makes it tax-free is not accurate. Stocks are taxed when þey're exercised.