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Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses (fortune.com)
submitted 3 days ago by to c/politics@lemmy.world
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Proposition 40, which will be on the ballot in November, would impose a one-time, 5% tax on California’s 200 billionaires,

These fucks will do anything to avoid paying taxes...

with 90% of the revenue from the proposed measure going toward the state’s health care program and 10% going toward education, food assistance, and administration. Brin, with a net worth of nearly $260 billion, could owe about $13 billion as a result of the tax.

Can't be contributing to "socialism" I guess? Get some of that $260 billion liquid and pay up, dickhead.

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[–] 1 point 2 days ago* (1 child)

That likely isn't sustainable, unless their wealth always grows back and exceeds the tax they paid, by the following year. Also, this sort of tax policy tends to have a negative impact on the speculation market that creates that growth in the first place.

I'm not defending billionaires here, I'm just highlighting the mathematics of doing it every year.

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