Core Viewpoint - A proposed Billionaire Tax in California aims to impose a one-time 5% wealth tax on approximately 200 billionaires, potentially raising $100 billion, but faces opposition from state officials and some billionaires [1] Group 1: Public Opinion and Political Response - The billionaire tax has garnered support from half of California voters, with 28% opposing it, according to a UC Berkeley and Politico survey [2] - California Governor Gavin Newsom is against the tax, and several prominent billionaires have expressed intentions to relocate to avoid it [2] Group 2: Potential Exodus of Billionaires - Notable billionaires considering moving include Google co-founders Larry Page and Sergey Brin, PayPal co-founder Peter Thiel, and venture capitalist David Sacks, with Meta founder Mark Zuckerberg reportedly looking at Florida [3] - Billionaire Chamath Palihapitiya claimed that Californians with a collective worth of $700 billion have already left the state [3] Group 3: Criticism of the Tax Proposal - Critics argue that the potential exodus of billionaires could undermine the tax's revenue-raising goals, as their departure would reduce the taxable base [4] Group 4: Broader Context of Wealth Taxes - The California billionaire tax reflects a growing trend of wealth taxes in progressive states, with Massachusetts enacting a 4% surtax on incomes over $1 million, generating $2.5 billion in its first year [5] - Washington state has approved a 9.9% tax on income over $1 million, projected to raise $3.4 billion annually, while New York City plans to increase its top tax rate for high earners from approximately 3.9% to 5.9% [6] - The concept of taxing the wealthy has gained popularity amid rising income inequality [6]

Should billionaires be taxed base on their wealth. A new ballot initiative in California says yes, but the Democratic governor out there says no. Joining us, former California Democratic Senator Barbara Boxer, professor of public policy and economics at the University of Michigan's Ford School of Public Policy, Betsy Stevenson, It's asking for a tax on wealth, not income taxes.The question of how to tax wealth, which has been around for quite a while, which Elizabeth Warren really attacked in the 2020 campa ...

group of Democratic senators yesterday proposing tax legislation that would exempt millions of Americans from income taxes, but to pay for it, high earners would see big tax hikes. So, under the bill, any income up to $46,000 for individuals or $92,000 for couples would not be subject to any any federal income taxes. Now, to fund it, taxpayers making more than a million a year would get a progressive tax hike.So those making between 1 and 2 million would pay an extra 5% for a total top rate of 42%. That rat ...

Wealth taxes are stupid.Increase and introduce taxes once you balance the budget and can get fraud under control in a transparent manner.A one time payment of $3000 is a bribe to approve a 283483827 page loaded bill.Bernie Sanders (@BernieSanders):My 5% billionaire wealth tax will raise $4.4 trillion to:✔ Give $3,000 to everyone in a household making $150,000 or less✔ Build 7 million homes & apartments✔ Enact a $60,000 minimum teacher salary✔ Expand Medicare for dental, vision & hearingAnd much more... ...

SANDERS AND KHANNA UNVEIL $4.4T WEALTH TAX ON BILLIONAIRESSenator @BernieSanders and Rep. Ro Khanna introduced the Make Billionaires Pay Their Fair Share Act on Monday, proposing a 5% annual wealth tax on the 938 billionaires in America who collectively hold $8.2 trillion in net worth.The bill would raise an estimated $4.4 trillion over the next decade, according to analysis from UC Berkeley economists.The legislation would provide a one-time $3,000 direct payment to every individual in households earning $ ...

A 5% national wealth tax on billionaires is not fixing the issues in America.It’s a bandage for the government’s inability to practice transparent and non-wasteful spending.It’s crafted perfectly to appeal to those who cannot think for themselves. https://t.co/agrT3q3est ...

It is the third week of February. It is time for the Bankless weekly roll up. David, there's a fight for prediction markets. It was hot last week and it just got even hotter on the week. >> Got way spicier. Uh, a lot of people joining the fight. Uh, CFTC chair Mike Celig put out a one minute clip on Twitter basically planting the flag claiming prediction markets as in the domain of the CFTC causing a ton of people to join and pick sides, senators, representative. Ryan, what what side do you think Elizabeth ...

Core Viewpoint - Senator Elizabeth Warren criticized Tesla Inc. for not paying any federal income taxes in 2025, questioning the fairness of this situation [1][2]. Group 1: Taxation Issues - Tesla paid "$0.00" in federal income taxes for the year 2025, as highlighted by Warren in her social media post [2]. - The Institute on Taxation and Economic Policy reported that Tesla received over $1.1 billion in federal income tax breaks and paid "precisely zero" in current income taxes [2][3]. - Over a three-year period, Tesla paid $48 million on a reported $12.58 billion in U.S. income, indicating a significant disparity in tax contributions [3]. Group 2: Related Commentary - Elon Musk claimed that the amount of taxes he paid "broke" the IRS system due to the high figures involved [4]. - California Governor Gavin Newsom expressed concerns regarding a proposed one-time 5% wealth tax aimed at individuals with net worths above $1 billion, indicating a broader discussion on wealth taxation [4].

Building a Better California is funding competing ballot measures that could nullify the proposed wealth tax. https://t.co/L3vnnE9Yun ...

The Netherlands just passed a 36% unrealized gains tax on crypto, stocks, and bonds -- and it takes effect in 2028. That means if your Bitcoin goes up in value, you owe taxes even if you never sold. In this video, we break down exactly how the new "Actual Return in Box 3 Act" works, why it creates a dangerous liquidity death spiral for investors, and why this could be the beginning of a global trend as cash-strapped governments look for new revenue sources. We also look at the historical failures of wealth ...