I don’t know how people with 50 million will survive with only 49 million, 500 thousand dollars. Hope eggs don’t go up more. They’ll be in deep financial trouble.
You think once they have that entrenched that it will stop there?
Nose of the camel under the tent.
I have a relative that is worth over 50 million.
Most of their assets are tied up in fine art—and much of that is on loan to museums around the world.
They live in California for half the year—and don’t do anything without consulting with their tax attorney.
If there any loopholes they will find them—or they will have to leave the state.