Post B65V9iDU5u4pJfAdma by taylan@fedi.feministwiki.org
 (DIR) More posts by taylan@fedi.feministwiki.org
 (DIR) Post #B65HKtQpL0zbvVqgl6 by Twig@noauthority.social
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       California’s proposed “Billionaire Tax”, it’s a 2026 ballot measure. If approved, it would add a one-time ~5% tax on billionaires’ wealth, net assets, to fund public services. Some of the most famous ones:Larry Page (Google co-founder) — ~$260BSergey Brin (Google co-founder) — ~$240BMark Zuckerberg (Meta) — ~$230BLarry Ellison (Oracle) — ~$200B+Jensen Huang (NVIDIA) — tens of billionsEric Schmidt (former Google CEO)Dustin Moskovitz (Facebook co-founder)
       
 (DIR) Post #B65HKtfiReu0fgoZxw by cjd@pkteerium.xyz
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       > one-time
       
 (DIR) Post #B65HKtovtOH78H7wKe by Twig@noauthority.social
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       @cjd Ha ha…., thinking about the next one?
       
 (DIR) Post #B65HKtx5P4nTXYwS2a by cjd@pkteerium.xyz
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       I mean, what do you think they're going to do NEXT time they're up against a wall with budget crisis?
       
 (DIR) Post #B65HKu4sw52FvkagCG by djsumdog@djsumdog.com
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       Not to mention, billionaires have a virtually unlimited amount to spend on accountants and lawyers to get around most taxes. Also their lobbies would prevent anything like this from actually passing (making it more of a feel good, 'we tried' type story for the state senate). Any one of them could pull an Elon too and literally move all their personal assets out of the State if they had to.
       
 (DIR) Post #B65JMY2Q39kE3xLhsO by cjd@pkteerium.xyz
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       It's possible that the political class wins out and the billionaires are made to pay. It's happened in Norway - and the billionaires all left and then they were crying because their tax receipts went down.
       
 (DIR) Post #B65JMYEpJ1fYgR9cDQ by FourOh-LLC@pkteerium.xyz
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       There are valid arguments to "tax the rich". We all respect the fact that a 1000+ billion personal wealth is earned and deserved, but then you are sometimes SHOWN (evidenced) what these rich cats do with their wealth (Bill Gates, anyone?) and you wonder if something must be broken.It is the end result that is concerning, where the money is not used to buy a soccer team or build a stadium, but spent on truly putrid shit like a pleasure island or on a narcotic empire.
       
 (DIR) Post #B65JMYRaXZsTK17o6i by Humpleupagus@eveningzoo.club
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       They'll eventually lower the number.
       
 (DIR) Post #B65V9hWafNlXAd6NvM by taylan@fedi.feministwiki.org
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       @cjd @djsumdog @Twig The obvious solution to this is a world government.
       
 (DIR) Post #B65V9hvl9ntmQgsU9g by dagda@netzsphaere.xyz
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       @taylan @djsumdog @Twig @cjd how would you know the taxed money would run into actual services and not more professional managerial overhead to socially engineer you?Especially with a world government that'd be even less accountable than national ones. Imagine a EU but for the globe
       
 (DIR) Post #B65V9iDU5u4pJfAdma by taylan@fedi.feministwiki.org
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       @dagda @djsumdog @Twig @cjd