deuce-ish: I mean...if I were a betting man, it's not gonna pass anyway...

deuce-ish
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I mean...if I were a betting man, it's not gonna pass anyway...

Posted by haighter

on October 19, 2026, 15:39:51, in reply to "California billionaire's tax as a net revenue loser"

✏️ Boo Haighter

I don't really hear anyone locally talking about it. I just don't think it really resonates that much.

Previous Message

Here's a fresh update on the topic. Not a new sentiment. This has some predicted numbers. Perhaps it's fair to wonder how many of the existing billionaires have already left and whether the remaining will take the hit.

https://marginalrevolution.com/marginalrevolution/2026/10/the-california-billionaire-tax.html

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Message Thread | This response ↓

California billionaire's tax as a net revenue loser - Potomac October 19, 2026, 14:31:43

Your government may be dumber than the IL government Ace and Haight - WesMantooth October 21, 2026, 08:30:53
- In general, I do believe that billionaires should pay a higher tax rate - villain October 21, 2026, 12:03:42
  - but you just pointed out why increasing the percentage on income tax doesn't work - AceFrehley October 21, 2026, 13:23:31
    - That's why I said you must fix the loophole that allows them to avoid taking capital income gains* - villain October 21, 2026, 13:33:07
      - I'm trying to figure out how that works. - AceFrehley October 21, 2026, 13:35:25
        
        Very basic version - villain October 21, 2026, 13:51:07
        
        I just realized I goofed the math and used a 1% return instead of 10%. - villain October 21, 2026, 14:03:47
        
        I know how it works. I want to know what you want to do to change that* - AceFrehley October 21, 2026, 14:07:55
        
        Tax the below market rate loans from financial institutions that never pay the principal off* - villain October 21, 2026, 14:19:57
        
        They already do, Stalin. Look up the AFR* - fratstud October 21, 2026, 14:59:19
        
        why is that a problem but not home equity loans?* - Potomac October 21, 2026, 13:56:37
        
        Completely different scale and HELOCs aren't being used to dodge capital gains taxes. - villain October 21, 2026, 14:00:54
  - The US estate tax is $15 million ($30 million per couple) - WesMantooth October 21, 2026, 13:09:08
    - If that gets moved up, it becomes less of an issue. Chances are it gets moved down. - villain October 21, 2026, 13:31:06
- It just sounds good to the broke ass people who think that their problems - AceFrehley October 21, 2026, 10:53:32
I mean...if I were a betting man, it's not gonna pass anyway... - haighter October 19, 2026, 15:39:51

even if it doesn't, some very wealthy might still move away just in case* - Potomac October 20, 2026, 06:09:33
- many already have* - villain October 20, 2026, 12:03:29
  - I was thinking more about "just in case" they lose and still try again* - Potomac October 20, 2026, 15:09:08
    - The list so far - villain October 20, 2026, 15:44:22
i think it's going to pass. and it's horrible. they're coming for you and me next, you know?* - AceFrehley October 19, 2026, 16:50:31
- You do? Really? Do you know anyone personally that’s super passionate about it? I don’t… - haighter October 19, 2026, 22:44:53
  - You don't know poor people. Especially 30-40 something broke ass people - AceFrehley October 19, 2026, 23:51:07
    - Jobs are a racist relic of the patriarchy, bigot* - fratstud October 20, 2026, 12:45:47
- Probably can't fund $20 billion of ad campaigns since USAID got slashed. Sad* - fratstud October 19, 2026, 17:08:31
bet under 1billion just in case* - Playoff Rondo October 19, 2026, 15:54:30

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