this post was submitted on 22 Sep 2026
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Didn't know all 3 had or planned to move.
I wonder how many would have to move before the tax actually becomes revenue negative (compared to not being implemented.)
The average tax income from billionaires in california looks to be around 10million a year. So combined the about 200 billionaires in california are paying 2 billion a year. Rough numbers would be that is 150 of them left then the one time tax would start being a negative income in 10 years. That assumes money stays flat.
Honestly there is no way that this ends up being a serious net negative and these folks are still operating in California enough that they may fail to avoid residency review.
avg income tax from billlionaires 10 m a year ONLY thats so absurdly low and 200 billionaires paying 2 b a year is like 1% of their billions? holy fuk we need to increase the taxes.