Discussion

• NewsMax.com Solange Reyner on x

  Billionaires Eye Exit as California Weighs Wealth Tax

• @billackman Bill Ackman on x

  California is on a path to self-destruction. Hollywood is already toast and now the most productive entrepreneurs will leave taking their tax revenues and job creation elsewhere. And then the Democrats highlight @CAgovernor Newsom as a great leader. Crazy.

• @armanddoma Armand Domalewski on x

  generally speaking “I'm gonna move if you raise my taxes” threats from rich people are pretty empty but a 5% one time tax on someone's entire net worth creates a strong incentive to move out and then move back in after it hits lol

• @nick_field90 Nick Field on x

  In 2026, Gavin Newsom goes from the guy fighting Donald Trump to draw more Democratic districts to the guy fighting the SEIU to defeat a billionaire's tax. How do you think that will effect his 2028 Democratic primary polling? https://x.com/...

• @ashleyschapitl Ashley Schapitl on x

  Politics aside—there are major policy issues with state billionaire's tax, to say nothing of the constitutional issues. At the Finance Committee we spent years working through these questions before even dropping bill text. It's not a policy you can just slap together.

• @benspielberg Ben Spielberg on x

  Research shows that threats from the wealthy to move over high taxes are usually empty. Would have been nice if this article cited some of it! Note also that the tax avoidance strategies discussed are not the same as leaving. (Though if Page or Thiel does leave, good riddance!)

• @dscheinm Dan Scheinman on x

  Isn't the idea to grow government revenues by growing the economy. Has “hitting them where it hurts” ever produced growth or benefit?

• @sarthakgh Sar Haribhakti on x

  “A spokesman for Mr. Newsom said he continued to oppose “state-level wealth taxes” because they encouraged those who would be affected to move to another state.” Newsom being a voice of reason here

• @colindhernandez @colindhernandez on x

  They say this ALL THE TIME! We can't allow billionaires to fearmonger just so they can avoid paying their fair share of taxes. CA loses billions in tax revenue in each year to pay for tax breaks that benefit the wealthy. They can afford to pay more. https://www.nytimes.com/...

• @rtylercrown Tyler Crown on x

  Remember everyone saying SF is back and the only place to build AI this year? Prediction that this sentiment shifts in 2026 and people focus on other geographies again.

• @jonahdispatch Jonah Goldberg on x

  This will be such a gift to Florida and Texas. https://www.nytimes.com/...

• @maxhodak_ Max Hodak on x

  this really does seem dangerous: the top 1% of taxpayers pay 40-50% of CA income taxes. lose them and there will be no choice but to dramatically raise taxes elsewhere or impose serious austerity (not a chance lol) people say they won't miss them, but.. https://www.nytimes.com/..…

• @rokhanna Ro Khanna on x

  Peter Thiel is leaving California if we pass a 1% tax on billionaires for 5 years to pay for healthcare for the working class facing steep Medicaid cuts. I echo what FDR said with sarcasm of economic royalists when they threatened to leave, “I will miss them very much.”

• @amuse @amuse on x

  HOTEL CALIFORNIA? California now wants a retroactive billionaire tax, leave the state and they'll tax last year's wealth anyway. The exodus is real. The desperation is worse. With 220 billionaires left in the state, and many reportedly preparing to bolt, California Democrats [ima…

• @jhong James Hong on x

  Here is a scenario where a high flying AI startup might not want to start in California.. Let's say the founder anticipates to raise money in 2026 and that they will be a billionaire on paper from that round. (Let's say 1.1bn). Also since this person is probably an AI

• @garrytan Garry Tan on x

  This CA “billionaire” tax is an unrealized gains tax. A unicorn startup founder becomes a paper billionaire around $5B val. At YC we avg 2 to 4 per year (!) This will kill startups and innovation in California since a founder is illiquid while instantly on the hook for $100M

• @garrytan Garry Tan on x

  @teddyschleifer ... This will be the result [image]

• @teddyschleifer Teddy Schleifer on x

  NEWS: Larry Page and Peter Thiel are making moves to leave California by the end of the year to avoid a possible billionaires tax that could hit them where it hurts. With @RMac18 + @hknightsf. https://www.nytimes.com/...

• @crexpat Eric on bluesky

  Good don't let the door hit you in the ass.  And fk Gavin Newsom for being opposed to the tax.  [embedded post]

• @authorstuartmiller Aut. Stuart Miller on bluesky

  “A Wealth Tax Floated In California Has Billionaires Thinking Of Leaving”  —  IMO, there should be a ‘wealth tax’ introduced in every state for the super wealthy...  #California #WealthTax  —  www.nytimes.com/2025/12/26/t...

• @cbdawson @cbdawson on bluesky

  This is a great advertising campaign to get people to vote in favor of the measure 😆 [embedded post]

• @terigoodson @terigoodson on bluesky

  I get tired of super wealthy people whining about paying taxes, especially when public investments helped them make fortunes.  Nonetheless, it is true that tax avoidance is a state/local issue when trying to raise revenue.  More should be done at the federal level.  —  www.nytime…

• @elifriedman Eli Friedman on bluesky

  Even if it doesn't pass, getting Newsom on record as opposing taxes on billionaires is very useful.  And California will be better off if the oligarchs actually move to Florida

• @tinyklaus.com @tinyklaus.com on bluesky

  Gov. Gavin Newsom goes to bat for Epstein's Silicon Valley network.  —  “For Mr. Page, whose net worth is $258b, the measure could result in a one-time tax of more than $12b.  The tax bill for Mr. Thiel, whose net worth is around $27.5b, could be more than $1.2b.”  —  www.nytimes…

• @ericumansky Eric Umansky on bluesky

  These billionaires are so serious about leaving California that they're speaking through [squints] all anonymous people.  —  www.nytimes.com/2025/12/26/t...  [images]

• @paulthedogman Paul Barrett on bluesky

  Californians should wish the mega-billionaires good riddance and send them off to the Florida swamps or wherever they want to drag their sorry tax-evading, Trump-appeasing asses.  The point is that they don't want to pay their fair share, so time to say...bye-bye. www.nytimes.com…

• @vortexegg.com @vortexegg.com on bluesky

  People are saying this is an empty threat because they've already not followed through with this in the past, but I think it's an empty threat because they keep threatening to destroy society if they're forced to pay any taxes, but they've already not been paying taxes and destro…

• @rincewind.run Micah on bluesky

  we've been over this  —  we just did this in Massachusetts  —  they're not gonna leave, they'll whine and bitch and moan and eventually this will raise more money than expected because nowhere they go is actually like the place they're leaving [embedded post]

• r/sanfrancisco r on reddit

  A Wealth Tax Floated in California Has Billionaires and Companies Thinking of Leaving

• r/seculartalk r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/economy r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/California_Politics r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/ThielWatch r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/California r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/politics r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

• r/Economics r on reddit

  A Wealth Tax Floated in California Has Billionaires Thinking of Leaving