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Joined 1 year ago
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Cake day: September 22nd, 2025

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  • Estimates seem to vary but I’ve found a good few at 3 billion total from the wealthiest 200 Californians.

    Also, given the article noted that:

    Departing billionaires slashed projected one-time revenue from $100 billion to $40 billion, with Page and Brin’s exits alone costing California $26.7 billion.

    That implies the current tax revenue from billionaires would drop 60 or so percent. So, presumably tax revenue drops from 3 to 1.2 billion, just based on current flights (and ignoring knock on effects.)

    So, no one else leaves and we don’t count knock on effects, I’d guess it’d take ~ 21 or so years before this starts cutting. But, of course, knock on effects (folks decamp to say, Texas which seems to be snagging as many once Californian businesses as possible…) It’s going to be a very interesting, depressing experiment. (Really feels like a race to the bottom but that’s the America we know and,uhhh, love?)


  • The billionaires are spending mad money to fight this tax.

    Mad for regular people money. From what I’ve read, what they’ve spent is a small fraction of what said tax would cost them (though if you’ve seen different, I love new info!)

    A person is easy to move, a warehouse less so.

    These folks don’t usually have warehouses, but whatever, say physical infrastructure. All that can stay, the boss can roll out, rock in Texas and take their private jet to and fro as needed. (Or, do their stuff remotely. I doubt Thiel is walking through cubicles etc.)

    The worst case scenario for California of the mythical “Wealth Flight” is a bunch of parasites moving elsewhere.

    The worst case is that the tax revenue that those billionaires bring (which sure, in a moral vacuum should probably be higher) goes elsewhere leaving California needing to plug the fiscal gap by taxing less wealthy folks or eliminating/reducing services.




  • MyBrainHurts@piefed.catoComic Strips@lemmy.worldConvenient
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    3 days ago

    Take a stand, pick a side or fuck right off.

    I dunno, everyone says this of the issues about which they care but other ones are too large etc.

    For example, do you feel the same way about say, sweatshop clothes? In that we should take a stand,pick a stand or fuck off?

    Personally, I feel the 12 year olds making the most of the clothes I see when I walk down the street is much more important than most national issues in my country AND is something where individual action really matters but, it’s also an issue that requires actual sacrifice and work. Much easier to be angry at people online over politics…