Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 03/15/2026 9:05:08 AM PDT by DFG
Uber co-founder Travis Kalanick says he has traded California for Texas, joining a growing list of billionaires abandoning the state as lefty lawmakers push for a one-off tax their wealth.
Appearing on TPBN to discuss his robotics startup Atoms, Kalanick told hosts John Coogan and Jordi Hays he relocated to Austin on December 18.
California lawmakers and activists are currently pushing a proposed 2026 Billionaire Tax Act, which could appear on the state’s November 2026 ballot. The measure would impose a one-time 5% tax on fortunes exceeding $1 billion and would apply to people who were California residents as of January 1, 2026.
Kalanick joked he felt a twinge of FOMO when he hears about other wealthy Americans relocating to Florida.
“Why so much Florida action?! Like, come on homies,” he said.
Other billionaire tech figures to leave California for Florida include Google founders Larry Page and Sergey Brin, PayPal and Palantir investor Peter Thiel, Amazon founder Jeff Bezos and Meta chief Mark Zuckerberg.
While California still boasts the largest billionaire population in the United States, an increasing number have relocated to places such as Reno, Austin and Miami.
Kalanick also reflected on the turmoil surrounding his departure from Uber in 2017, which came after a number of scandals, workplace culture issues and pressure from investors.
He was also dealing with the tragedy of a boating accident that killed his mother and left his father seriously injured.
“I had been torn away from an idea and a movement that I had poured my life into. I had lost my bearings as I found the world increasingly operating by the rules of perception, not reality,” he wrote on the Atoms website.
(Excerpt) Read more at nypost.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
California’s Uber blooper.
Someone needs to rewrite the old song “California Dreaming” to California Leaving.
who were California residents as of January 1, 2026.
Sounds very expost facto to me.
I wonder how many Democrats that he helped to get elected in the state?
“who were California residents as of January 1, 2026.
Sounds very expost facto to me.“
Can’t be constitutional to tax retroactively? If so, this guy is too late….
If Space Aliens were real California would have already had registered to vote.
Someone relocated to Reno? Short of relocating to Pahrump, that’s a nice FU to California.
So if you are worth, 1B, they want 50 million. So you want to virtue signal,
Sell assets to raise 50 Mil. But then you owe cap/gains/income tax plus state tax. Conservatively, another 30%.
So they are really taking 6.5% or 65mz Do you really think they will do this one time.
These folks are morons.
…AND DON’T CALIFORNIA MY TEXAS! 🤠
“he felt a twinge of FOMO”
Huh?
“Sounds very expost facto to me.”
indeed ... won’t stand up ...
You funny, NY Post!
“Can’t be constitutional to tax retroactively?”
i wonder what the cutoff would be for ex post facto taxing? if they can levy a new tax on former residents after a year, why not a new tax on any former residents from the previous 10 years? ... could start a stampede of new ex post facto taxes from desperate bankrupt blue states ...
Ex post facto applies only to criminal statutes
And heh, that $50M you save will cover your first year property tax in good old TX.
*************
So those with with assets in the multi-billions would be paying some very heavy taxes, likely in the hundreds of millions. And yes, this will open the door to future "adjustments" to the wealth tax. California liberals have an insatiable appetite for money.
https://legalclarity.org/when-can-a-tax-bill-be-retroactive/
When Can a Tax Bill Be Retroactive?
The power of Congress to pass laws with retroactive effect is restrained primarily by the Fifth Amendment’s Due Process Clause. This clause dictates that the government cannot deprive any person of property without due process of law.2 While this protection applies to tax legislation, the standard for a court to strike down a retroactive tax is deferential to the government.
The core judicial test requires that the retroactive application of the statute must be supported by a rational legislative purpose.................................
This dude knows driverless taxis are going to make his company worthless. He’ll never be able to replace that tax hit.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.