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Posted on 01/15/2026 4:14:43 PM PST by SmokingJoe
"California’s wealth tax is only on billionaires!"
That’s how the income tax started too. Only for the ~1%… until it wasn’t.
When you allow the government to introduce new taxes, they never shrink, only expand.
(Excerpt) Read more at x.com ...
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I would ask the last Kalifornian to leave to please turn out the lights, but the electricity in Kalifornia will already be gone.
First starts for billionaires
- Billionaires leave the state
Next comes millionaires
- Millionaires leave the state
Next comes worker bees
- They leave the state too
My question is the mechanics. First, how do we apply the filing requirements? Does a billionaire self identify? Does everyone need to report assets or just those with almost a billion? How are non marketable assets valued? Can one hire an appraiser to claim that stock is worthless or the yacht is negative value because it’s a cash drain? What happens if a billionaire splits his assets with his wife or several trusts? The application of this for a one time tax is going to cost a lot for administration and I assume every billionaire will likely take these through the courts because the law is new and the dollars are high.
In CA, the millionaires ARE the worker bees!
Being a millionaire doesn’t make you wealthy, or even “upper middle class”.
The kulaks are the richest ones remaining after they despoil the previous set of kulaks. Eventually there’s just one person left with two kopecks to rub together, and then there is none. The end.
Don’t worry...it’s only a ONE-TIME tax, too! Nothing to worry about.
Haven’t they already raised the fast food salary to $250m an hour by now? Then what
It is a tax on everybody, because you’ll pay it through prices.
Tax billionaires and give it to Illegals and Scamalis
Their loss. Our gain.
In and Out Burger pulled up ‘steaks’ and is building their new headquarters just 5 miles from me in Franklin TN.
And a restaurant is in front. Not finished yet.
Will the last one to leave the PRK please blow out the candles.
Why in the world would they believe those scumbag California legislators?
You mean there still are billionaires still in CA?
I read that when Congress proposed raising the highest income tax rate to 100%, they were advised against it because it would be unconstitutional under the Fifth Amendment takings clause.
I believe that a “wealth tax” would also be unconstitutional.
First they came for the billionaires ...
There are plenty of "undeclared" Kalifornia billionaires.
The Kalifornia EDD Covid unemployment fraud is questimated at $20 billion.
The Kalifornia Homeless Industrial Complex $$$ is about $37 billion.
The Super Train To Nowhere is hundreds of billions.
Pelousy, Newscum, are just the tip of the iceberg fraud/grift/graft. .
“I read that when Congress proposed raising the highest income tax rate to 100%, they were advised against it because it would be unconstitutional under the Fifth Amendment takings clause.”
LOL!
“I believe that a “wealth tax” would also be unconstitutional.”
MANY wealth taxes are already in place. By counties, states and the feds.
Personal ones have fled or are planning to fled, er, flee.
I am sure there will be a few exceptions to this new tax...
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