Leave it to the UC Berkeley Law School, a bastion of left-wing thought, for one of its perfessers (sic) to come up with a new way to soak the rich here in the Golden State. Brian Galle is his name, and he has already reportedly helped design a 5% wealth tax on billionaires that may become law in California. That's because the little rascals in Sacramento need more $$$ for their social programs and to take care of the millions of illegal migrants in our state. According to Galle, these rich people in California are "starving the treasury".
Of course, nobody knows how many billionaires are left in the state since so many people have left taking their money, their companies, and their jobs with them. Many are predicting that the next thing to come out of Sacramento will be an exit tax.
Of course, as is my wont, I point out that the dean of the law school is Erwin Chemerinsky. Under his stewardship, the law school is little more than a training ground for future left-wing activists. At times, his minions have gotten so out of hand that even he gets frustrated with their antics. But as I told him once in an exchange of emails, this is largely of his own construction.
3 comments:
"Of course, nobody knows how many billionaires are left in the state since so many people have left taking their money, their companies, and their jobs with them."
California has 299 billionaires - the most of any state, and the fourth most in the world. 80 of them are in the ultra-liberal Bay Area. You'd think that they'd be able to move if if it was so bad, eh?
https://www.visualcapitalist.com/mapped-states-with-the-most-u-s-billionaires-in-2025/
California definitely has problems, but the right-wing narratives about what those problems are is ridiculous. It's the world's 4th largest economy.
The biggest problem is a lack of affordable housing. It's not that billionaires are paying too many taxes. Don't worry about them. They'll still be billionaires. Even if the money does go to undocumented immigrants, at least they'll put it back into the economy instead of hoarding it.
When you heard that old Bible story about a young David, were you rooting for Goliath?
David and Goliath?
I thought Brazil had the 4th-largest economy in the world. I guess, according to you and Newsom, we have passed them. They are in great shape too.
Brazil is number 14. It's number 10 if you only count countries. So, no, we haven't passed them. They haven't caught up.
https://www.visualcapitalist.com/worlds-largest-economies-including-u-s-states/
https://www.worldometers.info/gdp/gdp-by-country/
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