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.
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.
Did you just swallow the hook and line, or the sinker too?
I mean I’m middle class and could afford this… sure I wouldn’t be happy about it but the idea that it would be so onerous on literal billionaires seems absurd.