Didn’t New York already do it and it proved that billionaires will stay put and not move to a hick backwater just to save a few bucks they wouldnt even notice losing?
What they did is very different. They taxed residential properties not used as primary residences valued over 5 million. The CA tax is a one time 5% tax on the worldwide net worth of billionaires.
Didn’t New York already do it and it proved that billionaires will stay put and not move to a hick backwater just to save a few bucks they wouldnt even notice losing?
What they did is very different. They taxed residential properties not used as primary residences valued over 5 million. The CA tax is a one time 5% tax on the worldwide net worth of billionaires.
Or, and hear me out, the states that they move to could follow suit and completely negate the ridiculous argument to begin with.