Without even passing the proposed legislation, California progressives are already running off billionaires.
We cannot allow these radicals to turn American into California.
The Gateway Pundit reported,
Progressives in California have been pushing for a new ‘billionaire tax’ and even though it hasn’t passed yet, the state is already suffering massive financial consequences.
As in every other time in history, wealthy people hear talk like this and they pack up and leave.
It has been estimated that California has lost upwards of a trillion dollars in the last month alone.
The New York Post reports:
Calif. loses mind-boggling $1 trillion in wealth in past month alone over fears of ‘Billionaire Tax’: wealth guru
California lost a mind-boggling nearly $1 trillion in wealth in the past month alone thanks to fears over its proposed “Billionaire Tax,’’ according to one of the state’s wealthiest residents.
The under-fire measure, which even lefty Gov. Gavin Newsom opposes, would slap a onetime 5% tax on residents worth more than $1 billion as of Jan. 1, 2026.
Imagine if they had their way at the national level.
Why would any innovator, inventor, or producer want to stick around and be a punching bag for the left?
You can’t treat them like scumbags and expect them to stick around. Leftist economic theory simply does not work.
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