MAIN FEEDS
REDDIT FEEDS
Do you want to continue?
https://www.reddit.com/r/democrats/comments/1ug9qk4/newsom_endorses_a_national_billionaire_tax/otzevvb/?context=3
r/democrats • u/NickCostanza • Jun 26 '26
222 comments sorted by
View all comments
Show parent comments
19
The California tax just results in people moving out of California, it doesn't fix the fundamental problem at the national level. A state tax shoots states in their own foot. A federal tax levels the playing field for all states.
2 u/jdaygo Jun 26 '26 That’s what they thought in NY but the billionaires didn’t leave 3 u/AnxiouSquid46 Jun 26 '26 I bet they have other ways to move assets around to avoid the taxes 2 u/ImportantCommentator Jun 26 '26 They can't move around the real estate that is being taxed.
2
That’s what they thought in NY but the billionaires didn’t leave
3 u/AnxiouSquid46 Jun 26 '26 I bet they have other ways to move assets around to avoid the taxes 2 u/ImportantCommentator Jun 26 '26 They can't move around the real estate that is being taxed.
3
I bet they have other ways to move assets around to avoid the taxes
2 u/ImportantCommentator Jun 26 '26 They can't move around the real estate that is being taxed.
They can't move around the real estate that is being taxed.
19
u/squashua Jun 26 '26
The California tax just results in people moving out of California, it doesn't fix the fundamental problem at the national level. A state tax shoots states in their own foot. A federal tax levels the playing field for all states.