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submitted 3 months 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 3 months ago

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

[-] Shirasho@lemmings.world 23 points 3 months 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.

[-] Tollana1234567@lemmy.today 4 points 3 months ago* (last edited 3 months 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 3 months ago

Ooo let's make it nationwide then

[-] LifeInMultipleChoice@lemmy.world 25 points 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months 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 3 months ago

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

[-] fodor@lemmy.zip 7 points 3 months 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 3 months ago

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

[-] gravitas_deficiency@sh.itjust.works 25 points 3 months ago

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 3 months ago* (last edited 3 months 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 3 months ago

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

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[-] avidamoeba@lemmy.ca 25 points 3 months ago* (last edited 3 months ago)

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

[-] resipsaloquitur@lemmy.world 22 points 3 months ago
[-] deddit@lemmy.world 17 points 3 months ago* (last edited 3 months ago)

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

[-] HisArmsOpen@crust.piefed.social 16 points 3 months ago

Keep those evil fuckers running!

[-] rekabis@lemmy.ca 13 points 3 months ago

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

[-] BoycottTwitter@lemmy.zip 13 points 3 months 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 3 months ago

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

[-] oh_@lemmy.world 11 points 3 months ago

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

[-] grimpy@lemmy.myserv.one 11 points 3 months ago
[-] aesthelete@lemmy.world 10 points 3 months ago* (last edited 3 months 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 3 months ago

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

[-] DeICEAmerica@lemmy.world 7 points 3 months ago

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

[-] leadore@lemmy.world 6 points 3 months 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 3 months ago

Bet they don't.

[-] qevlarr@lemmy.world 5 points 3 months ago

We should hold a farewell party and hold them to it

[-] nonentity@sh.itjust.works 5 points 3 months 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.

[-] Sam_Bass@lemmy.world 5 points 3 months ago* (last edited 3 months 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

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

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

[-] dermanus@lemmy.ca 3 points 3 months ago

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

[-] Scottyc65@reddthat.com 3 points 3 months ago

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

[-] bender223@lemmy.today 3 points 3 months ago* (last edited 3 months ago)

they should leave and go to Mars, where there's no tax

[-] Diplomjodler3@lemmy.world 3 points 3 months ago

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

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

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

[-] ragebutt@lemmy.dbzer0.com 3 points 3 months 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 3 months ago
[-] VitoRobles@lemmy.today 2 points 3 months ago

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

[-] phoenixz@lemmy.ca 2 points 3 months ago

Then don't allow them to leave the state

Or just take their companies within the state.

Fuck the rich

[-] RubberElectrons@lemmy.world 2 points 3 months ago

Bye, assholes.

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

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