this post was submitted on 19 Mar 2026
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smells like somebody doesn't want to pay his fair share
A retroactive tax is pretty bullshit.
It being a one time tax with a "if you lived here 1-1-26" is also idiotic. The billionaires wouldn't even pay. It'd just be tied up in courts for like the next 20 years.
Not beginning until you hit a billion dollars is also stupid.
It needs to start at a much lower net worth, be every fucking year, not be retroactive to a single date on the calendar that happened before the vote (cause that really is bullshit to do), and be on some sort of increasing percentage instead of just a flat 5.
Pay $45m. Trying to not be taxed....
45 milly to not pay 12 billy seems reasonable.
That's nothing to them, it's about the money in the long run.
tbf, it's staple of the grifter kickback scheme. money is bullshit, in the higher circles you basically just move your $ pile around inbetween a group of trusted like-minded individuals to minimize tax burden.
Imagine how ridiculous the taxes have to be for $45M to be preferable
Edit: Was more of a comment on the inconceivable amount of money these fucks must be getting paid for 45 mil to be a drop in the bucket. Please don't mistake my disgust for their tax amount as a justification for their actions. Imagine how much good that money could do. Instead it sits in the pockets of the top 0.01% while the only money they pay is to other corrupt fucks who keep them from paying more. The whole idea would be laughable for its logic if it wasn't so damn cruel in action.
*~~ridiculous~~ proportionate
When you have an unfathomable amount of money, your taxes look pretty wild whatever they are.
Ridiculous? I consider it my civic duty to pay tax. I’m happy paying tax. I just with that those with the broadest shoulders would pay the same % as I do.
Does anybody need to be worth $247B? Is a fucking sickness is what it is. I literally can’t fathom it. I’m 42 give me £500k right now and I quit work and just go enjoy what’s left of my life.
You think these people don’t have enough money?
Billionaires should not be allowed to exist, period!!
Damn his wig looks bad.
Imagine being so rich that, not only could you drop $45M without even thinking about it, and not only could you just move to a new $42M house without thinking about it, but you would still be worth $235 BILLION after losing 12 billion dollars... and being angry!
~~dont~~ be evil
Can we get one good one though? There has to be one good billionaire, somewhere, by sheer statistical folly. Narwhals exit. Bumblebees fly. Now complete the impossible trifecta.
You only become a billionaire by exploiting people. Like a lot of people. You might as well say "there has to be at least one good serial killer"
I think you have to be evil to become a billionaire. Nobody by themselves contributes something to society that is worth billions. So they are taking more than they contribute and are apparently willing to do so and disadvantage other people. This is evil. That is why there are no good billionaires.
Also, if by some extreme coincidence you become a billionaire by accident and if you are a good person, you would give it away for the benefit of society. So then you would not be a billionaire anymore.
There aren't that many billionaires.
The fact that he's both willing and able to do this, is the one single biggest argument in favour of abolishing billionaires.
Citizens United ruined America.
1,000,000%.
Is this a proposal for how much billionaires should be taxed? Because if so, I'm on board.
They'd rather pay to manipulate the tax code than pay taxes.
So would I, but I'd like to pay to make it simpler and route more of it to education / universal healthcare.
If they could pay an accountant $50k to avoid $20k in taxes that's a win for them
Most billionaires are so anti-tax they would spend their entire fortune to keep from paying taxes.
Because it's not about the money as much as it is the principle of having to follow the same rules as everyone else.
My aunt and uncle bought a Tesla a few years back. Partially for the electric vehicle; partially for the fact that in California up until last summer, if you were driving an EV, you could use the carpool lane even if you were by yourself.
I remember my cousin just complaining complaining complaining that she'd have to use the other lanes like "everyone else" when she went to school, and that she'd have to wake up twenty minutes earlier to compensate for the traffic.
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The fact that he can afford to do that is the best possible case in favor of that tax.
And it’s only a one off… it’s crazy generous. I would advice for a recurrence of some sort.
Dude is worth a quarter of a trillion
He can afford to spend 12.5bn on stopping this before he's losing money
Frankly I'd be campaigning on this if I was an advocating politician of the bill. "He is willing to burn this money rather than pay a fair share into public finances to benefit everyone"
"The $45m he spent to fight this would've allowed us to renovate this school. The $12b he'd owe would let us renovate 100 schools. Or get X thousand of the homeless off the streets. Or fixed 10 million potholes."
Make his name responsible for those things not happening.
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He has already left the state to avoid the tax according to the article. So he’ll pay nothing even if it passes. I suspect he’s funding the measure simply because he doesn’t want this to start some sort of nationwide precedent.
there are no good billionaire. the whole concept of billionaire is utterly antisocial
It's also anti democratic. Giving a few people that much power, is 100% against democratic principles.
It is however perfectly in line with an oligarchy dictatorship.
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This tax is stupid IMO, it shouldn't be one time, but 1% every year.
I'll take the 5% though, better than nothing.
Once upon a time this guy would have paid 94% in federal taxes. The math would have literally worked against him ... he could pay workers more and give them benefits to lose his money or just lost the money in taxes.
This style tax scale is what got one guy elected FOUR TIMES as President of the US.
Yup, the first so much of his earnings would have been lower rates, after the amount surpasses thresholds, the rate increases on that part, reaching 90 some percent on obscene amounts.
They don't take wages now though, they get like stock options, then borrow against their stock holdings, borrowing more to pay off the old, never realizing a gain to pay taxes. As per Propublica's reporting.
it's almost like their should be capital interest tax and loan resurgence limits, that require a federal application and limits on how it can be used (like home and auto loans are)
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Clearly has the money. If he doesn't like it maybe he should move to texas like the other greedy chuds who hate the state they live in.
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