The catch appears to be this: right now CA brozillionaires pay state tax which is decently high. Now they get this extra 5% on top of (28%? idk).
If they don’t want to all they have to do is say “Actually I’m going to move to Texas” and - without moving or doing anything different - they now pay zero state taxes.
That’s why the federal level is the place to tax brozillionaires - because they’re not going to move out of the country, it’s a much bigger pain in the @$% to do than buying a shack in El Paso and claiming it as primary residence.
If one was governor, that tax base should ideally only go up, not down. Of course they could follow up with laws trying to hassle out-of-state billionaires who own property in CA, or something similar, but that’s another fight.
It’s not just that he’s a tool of the billionaire class who wants workers to shoulder all the burdens. There are, in fact, legitimate concerns.
The catch appears to be this: right now CA brozillionaires pay state tax which is decently high. Now they get this extra 5% on top of (28%? idk).
If they don’t want to all they have to do is say “Actually I’m going to move to Texas” and - without moving or doing anything different - they now pay zero state taxes.
That’s why the federal level is the place to tax brozillionaires - because they’re not going to move out of the country, it’s a much bigger pain in the @$% to do than buying a shack in El Paso and claiming it as primary residence.
If one was governor, that tax base should ideally only go up, not down. Of course they could follow up with laws trying to hassle out-of-state billionaires who own property in CA, or something similar, but that’s another fight.
It’s not just that he’s a tool of the billionaire class who wants workers to shoulder all the burdens. There are, in fact, legitimate concerns.