A Boring Dystopia

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Gavin Newsom backs measure to kill the billionaire tax and ban future wealth taxes (calmatters.org)

submitted 11 hours ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] Lodespawn@aussie.zone 11 points 8 hours ago (1 children)

Didn't New York already do it and it proved that billionaires will stay put and not move to a hick backwater just to save a few bucks they wouldnt even notice losing?

[–] mr_rusty_shackleford@lemmy.world 1 points 7 hours ago (1 children)

What they did is very different. They taxed residential properties not used as primary residences valued over 5 million. The CA tax is a one time 5% tax on the worldwide net worth of billionaires.

[–] obvs@lemmy.world 2 points 6 hours ago

Or, and hear me out, the states that they move to could follow suit and completely negate the ridiculous argument to begin with.