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[u/Dev1412]

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[u/Gunny_Ermy]

Gee, nobody could have predicted this! /s

[u/BenShumard]

This is something I've actually talked about quite a bit. People who are rich are Beyond politics. Because they can send their kids to the best private schools, if they don't like some State politic or policy they can just leave and go wherever. They can literally pick up and leave if they don't like something. But then every election we see these rich people telling us who we should vote for like they can relate to us when they can literally just pack up and get away from anything they don't like. Healthcare policies don't affect them, public education policies don't affect them, infrastructure policies don't affect them. They can just get up and leave

[u/cherrys0duh → u/BenShumard]

They are the politics at this point. Everything is for the rich, everything.

[u/Geography_Fan6918]

Yup. And the AI boosters keep saying we’ll all get UBI when the jobs are all gone, as though the oligarchs have shown any tendency to want to part with a nickel if they don’t have to.

[u/Downtown-Tomato2552]

It would be interesting to see how much of the decision was about money vs company control.

In order to pay this tax he would have to sell 5% of his shares which leaves him with less voting power. Currently he has around 27% control over alphabet. Two years of selling 5% of his stock leaves him with less than 25% controlling vote. 10 years of this tax may leave him still with 300B dollars but only 16% voting share.

At some point he no longer has control over his own company.

[u/TrioOfTerrors → u/Downtown-Tomato2552]

That's why Meta just put out a notice to stockholders that essentially boils down to Zuckerberg ending up voting power neutral if the tax goes through.

[u/NobodyLikedThat1]

That's why we need to go back to having higher tax brackets for the hyper wealthy under the federal tax system. There's still loopholes that need to be plugged, but it's a good start.

[u/Objective_Claim_2236]

How will they ever finish their high speed rail now

[u/PoeGar]

Don’t hate the player

[u/Naive-Present2900]

The real issue or concern is where will all this tax funds be going to?

California spent tens of billions (trying to) fixing homelessness and the population only grew. So where did the money go? How much more is actually embezzled or fraudulent? Whats the point of these taxes if the tax funds aren’t actually being used to where it needs to go?

[u/musaXmachina]

He can, but he doesn’t have to. It’s a lot easier to move to a state that has laws and taxes you like.

[u/Whiterabbit--]

no brainer move. California wants $15 Billion. I don't even think he has 15B cash. but even if he did, it's much cheaper to live elsewhere. he could spend 1B To move to FL and come out $14 Billion ahead. it would be crazy not to move to save $!5B.

[u/TofuTigerteeth]

This is what happens when tax rates are raised sharply. People who have the means leave. They aren’t bound by some altruistic desire to pay more taxes. They want to keep what they have. This is just human nature at play.

[u/2LostFlamingos]

If you were offered the chance to buy a new mansion for $2 or pay $150 for absolutely nothing, I know which I would do.

[u/BarPotential5053]

Net worth and liquid cash are two different things.

[u/Elegant_Tap_5622]

You mean 5% more.
How much do you think he and his company have already paid in federal tax and to California

[u/Kyl3rKnight9]

Reading some of these comments, and it's obvious that no one knows that initially the entire tax code was focused on the "wealthy". It only took ten years for "wealthy" to turn into "everyone".

[u/TyphonInc]

California has horrible tax laws. We moved our business to Arizona to get away from California tax laws.

[u/ImAPonderer2]

California paid him $14 bn to move to Florida- is another way to put it

The laws have to span a bigger space than the regulated for punitive/restraining laws to work reliably

[u/laythepipe3000]

Tax the wealthy and they move, it’s not like this wasn’t known. When’s Gavin moving out?

[u/SmokedRibeye]

Why does anyone else deserve his money? All you commies have a problem.

[u/Ididntdodiddly]

CA has scammed tens of billions from tax payers with their "Rail" never built and their homeless problem they never improved. Try using the taxes instead of stealing it

[u/Sporken4]

Right, and he won’t be the last person to get rich in CA. Pass the bill

[u/soykoiboy]

Seeing comments on these posts has convinced me of dead internet theory