I thought billionaires would leave the state if we taxed them?? Are you telling me there is a compelling reason that either they or their companies might want to stay located in CA? Who would have guessed?
I’m OK with this. It is basically a corporate tax now instead of a personal tax. As long as CA gets the billions of dollars it needs from someone, I don’t care where it comes from. We should be taxing corporations more and should be taxing billionaires more, but it is a start. Also, this fucks the shareholders who might maybe possibly think of restricting pay packages for him.
If Meta pays Zuck’s wealth tax I hope they classify it as income and tax it more. If you or me are given a bonus from our jobs, it is taxed as income. I don’t really see how this is different.
Two takeaways here:
I thought billionaires would leave the state if we taxed them?? Are you telling me there is a compelling reason that either they or their companies might want to stay located in CA? Who would have guessed?
I’m OK with this. It is basically a corporate tax now instead of a personal tax. As long as CA gets the billions of dollars it needs from someone, I don’t care where it comes from. We should be taxing corporations more and should be taxing billionaires more, but it is a start. Also, this fucks the shareholders who might maybe possibly think of restricting pay packages for him.
If Meta pays Zuck’s wealth tax I hope they classify it as income and tax it more. If you or me are given a bonus from our jobs, it is taxed as income. I don’t really see how this is different.