Sergey Brin pours more than $100M into fighting California's billionaire tax

kylecazar

At least I understand the "innovation and capital will leave the state" argument. Brin says he opposes the law out of fear California will become the USSR. This is a democratic vote, on a one-time tax, that leaves private property and corporate ownership structures intact. It's a ridiculous stretch, the motives are transparent.

rayiner

A “one time tax” is pure third worldism. It’s like Chicago trying to close its deficit by selling off its parking meters. But Brin should propose an alternative tax that is sustainable.

mlmonkey

I don't understand the point of a "one time" tax. What happens once the money runs out a year later? Another "one time" tax?? Why not implement a permanent tax if you want to permanently solve the problem??

silverFork

Zillionaires troll to avoid taxes. Research Buy-Borrow-Die clause in taxation if you can. Using that clause they hardly pay any taxes so tax laws have been hacked to allow it. They pay less in percentage than people who work for Wendy's . They naturally resort to red baiting for their own benefit. $100M to him is like $100 for other people.

exabrial

Just leave the state. California has a monoparty and nearly unlimited tax revenue, but still fails to deliver the dream state the socialists desire.

fakedang

Gavin Newsom vs Gavin Belsom. The tax is just Gavin positioning before the 2028 elections. Even taxing 1% of wealth annually makes more sense than this. And oh yeah, let's fund healthcare, but let's also sleep on the housing crisis and the homelessness crisis. On the other side, Prop 41 and 42 are absolute jokes. It's like Robert California himself wrote those laws or something.

infamouscow

This really ends one of two ways. Either California's defaults on it's unfunded pension liabilities and screws a whole generation of government workers, or there's a federal bailout and people in states like Texas and Florida stop paying federal taxes.

bdangubic

the “pro-tax people” should just run the ads with this as in “see how much they have that they can spare $100M like it is nothing - tax them” :)