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submitted 2 weeks ago by throws_lemy@lemmy.nz to c/news@lemmy.world

Tech billionaires are making plans to bail on California ahead a possible ballot measure that would tax their assets to help pay for healthcare.

Sources told the New York Times that venture capitalist Peter Thiel has explored spending more time outside California and opening an office for his Los Angeles-based personal investment firm, Thiel Capital, in another state.

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[-] LordMayor@piefed.social 61 points 2 weeks ago

“Leave” as in claiming their primary residence is in Florida while spending all of their time in California.

[-] Shirasho@lemmings.world 23 points 2 weeks ago

Puerto Rico does it right. In order to claim primary residence there you have to physically be there for something like 180 days of the year without any travel. States need to do that too.

[-] salacious_coaster@feddit.online 10 points 2 weeks ago* (last edited 2 weeks ago)

I live in a regional hub in a red area. All the people who live in the surrounding counties split their time between shitting on the "big city" and spending all their time here without paying any taxes

[-] Tollana1234567@lemmy.today 4 points 2 weeks ago* (last edited 2 weeks ago)

i doubt he wants to be associated with florida right now, considering what happened to his sidepiece last year, involving windows. thiel is a creature of habit, he hates anything news that unravel his behaviour.

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[-] boydster@sh.itjust.works 60 points 2 weeks ago

Ooo let's make it nationwide then

[-] LifeInMultipleChoice@lemmy.world 25 points 2 weeks ago

% of profits made in the state off standard pricing, tax the company. The company can choose to not sell their products in the state. If Google/Apple/whomever decides they don't want their products used in the state and lose 40m customers, that's their choice.

[-] keyhoh@piefed.social 17 points 2 weeks ago

Go one further. If a company doesn't want to make it's product available in an area, that area has full access to all of its intellectual property and anyone can duplicate their work and profit off of it.

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[-] _chris@lemmy.world 51 points 2 weeks ago

They won’t leave. They’re just trying to scare idiots into voting for policies that only benefit the rich and their ilk.

[-] RustyShackleford@piefed.social 15 points 2 weeks ago

Exactly they won’t move, this is like when people threaten to move if something happens, and when it does happens, nothing.

[-] VoteNixon2016@lemmy.blahaj.zone 5 points 2 weeks ago

No, didn't you hear, everyone with more than $100 in savings fled New York now that Mamdani is the Supreme Leader there

[-] Tollana1234567@lemmy.today 4 points 2 weeks ago

they tried this with zohran in nyc, none left. RICH people wont live in red hellholes like kentucy, nebraska or alabama.

[-] Steve@communick.news 29 points 2 weeks ago

Taxes don't have to care where you live. If done properly, all that matters is where the assets are. You want to do more than $1B(or whatever number makes sense) of buisness in California? You need to create a California based subsidiary to handle it all. And share holders of that buisness pay tax on the value of those shares. Then it doesn't matter where Alphabet or Google or their CEOs are located.

[-] kiku@feddit.org 29 points 2 weeks ago

This How Money Works video talks about these hollow threats. In short, they probably would leave anyway.

[-] fodor@lemmy.zip 7 points 2 weeks ago

They're lying. They won't go. They're so rich that they don't have to worry about this kinda money. That's the whole point of being rich, after all.

[-] frongt@lemmy.zip 27 points 2 weeks ago

Sure, go to Texas. See how they like people moving from California.

And remember: Thiel is gay. So I hope he gets the maximum dose of homophobia and hostility from ignorant, prejudicial Texan chuds, too.

[-] sp3ctr4l@lemmy.dbzer0.com 22 points 2 weeks ago* (last edited 2 weeks ago)

He's also ~~obsessed with~~ the AntiChrist, which is a somewhat controversial identity status amongst Evangelical and Baptist Christians.

[-] Earthman_Jim@lemmy.zip 6 points 2 weeks ago

He's certainly the antithesis of Christ, along with Musk and Trump.

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[-] avidamoeba@lemmy.ca 25 points 2 weeks ago* (last edited 2 weeks ago)

Threatening people with a good time? A bold strategy Cotton!

[-] resipsaloquitur@lemmy.world 22 points 2 weeks ago
[-] deddit@lemmy.world 17 points 2 weeks ago* (last edited 2 weeks ago)

'Flee'?! Like cockroaches when the light is turned on?

[-] HisArmsOpen@crust.piefed.social 16 points 2 weeks ago

Keep those evil fuckers running!

[-] rekabis@lemmy.ca 13 points 2 weeks ago

If they weren’t paying taxes in the first place, their departure only improves the environment.

[-] BoycottTwitter@lemmy.zip 13 points 2 weeks ago

How about taxing billionaires in all 50 states, a federal billionaire tax and all other countries impose a billionaire tax. Make them have nowhere to go.

[-] AngryRobot@lemmy.world 13 points 2 weeks ago

The ultra wealthy said the same thing about New York City, they aren't going anywhere.

[-] oh_@lemmy.world 11 points 2 weeks ago

Go. Please go. They say this all the time, I really wish they would.

[-] grimpy@lemmy.myserv.one 11 points 2 weeks ago
[-] aesthelete@lemmy.world 10 points 2 weeks ago* (last edited 2 weeks ago)

BYE! I'd say "don't let the door hit you in the ass" but that's unlikely as you're all ass.

[-] ElcaineVolta@kbin.melroy.org 7 points 2 weeks ago

we should just confiscate their ill-gotten gains, afterward they can move around wherever they'd like!

[-] DeICEAmerica@lemmy.world 7 points 2 weeks ago

Bye. Go to Texas or Florida. Next....

[-] leadore@lemmy.world 6 points 2 weeks ago

If you can't contribute anything but only take take take, then get the fuck out of the whole country while you're at it. And stay out!

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[-] Almacca@aussie.zone 6 points 2 weeks ago

Bet they don't.

[-] Sam_Bass@lemmy.world 5 points 2 weeks ago* (last edited 2 weeks ago)

Greedy fucks should be totally stripped of their wealth wherever they go so as to (re)learn what its like down here with us

[-] nonentity@sh.itjust.works 5 points 2 weeks ago

Financial obesity is an existential threat to any society that tolerates it, and needs to cease being celebrated, rewarded, and positioned as an aspirational goal.

Corporations are the only ‘persons’ which should be subjected to capital punishment, but billionaires should be euthanised through taxation.

[-] qevlarr@lemmy.world 5 points 2 weeks ago

We should hold a farewell party and hold them to it

[-] candyman337@lemmy.world 4 points 2 weeks ago
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[-] EtAl@lemmy.dbzer0.com 3 points 2 weeks ago

Let them flee all the way to Russia. Billionaires shouldn't exist in the first place.

[-] dermanus@lemmy.ca 3 points 2 weeks ago

Are these the same billionaires who were going to leave New York? Or different ones?

[-] Scottyc65@reddthat.com 3 points 2 weeks ago

People of California: Don't threaten us with a good time. (Also, not like their tax dollars will be missed)

[-] Diplomjodler3@lemmy.world 3 points 2 weeks ago

Don't let the door hit you on the way out!

[-] turdburglar@piefed.social 2 points 2 weeks ago* (last edited 2 weeks ago)

do we really care if the door hits them tho?

[-] robocall@lemmy.world 3 points 2 weeks ago
[-] eestileib@lemmy.blahaj.zone 3 points 2 weeks ago

Fuck up some other state's politics for a change.

[-] ragebutt@lemmy.dbzer0.com 3 points 2 weeks ago

This happened in NJ and the billionaire who “left because of taxes” has both returned to the state since and pretty consistently stated he did not leave because of the tax hike and never said that was his motive. While I am sure these scumbags will do whatever is necessary to avoid paying taxes my point is don’t expect the media to not propagandize here.

The narrative being built is clearly one to make the average person think “increasing taxes on the wealthy will hurt us!” This is what happened in New Jersey. “If the tax increases are passed and David Tepper leaves it will cost the state hundreds of millions of dollars and ruin everything!”. It’s that domestic abuse shit; “you should just let me exploit the fuck out of you and if you don’t I’ll bail and it’s your fault for not letting me continue to do so”. Also fwiw while Tepper left NJ was fine and while his loss was notable to the tax budget it was not insurmountable by any means. NJ and California are already quite wealthy states.

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[-] fittedsyllabi@lemmy.world 2 points 2 weeks ago
[-] RubberElectrons@lemmy.world 2 points 2 weeks ago

Bye, assholes.

[-] VitoRobles@lemmy.today 2 points 2 weeks ago

They should flee earth. Start living on the moon and leave the rest of society.

[-] phoenixz@lemmy.ca 2 points 2 weeks ago

Then don't allow them to leave the state

Or just take their companies within the state.

Fuck the rich

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this post was submitted on 28 Dec 2025
204 points (97.2% liked)

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