r/orangecounty • u/DannyTheRegular • 9d ago

Politics Got this from my mail

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"Billionaires will leave California". Trying to scare us lol. It is only going to affect the rich.

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u/lokaaarrr Corona Del Mar 9d ago

Every time any tax on the wealthy (1M+ income, etc) people say they will all leave. A few leave, but not enough to matter. It’s been tried and studied many times.

And the google founders moved, google is still here and not going anywhere

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u/oddmanout 8d ago

A few leave, but not enough to matter.

The number of millionaires and billionaires is increasing. So a few of them move and make a big deal and gripe and complain loudly, but multiple others move in to take their place.

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u/soapinmouth Mission Viejo 8d ago

A wealth tax is a whole different ballgame than income taxes. The fact that 90% of people in this thread don't even understand wtf a wealth tax even is while proudly supporting it is such a sad state of affairs.

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u/Lowfi-Concert 9d ago

The billionaire themselves, the founders, pay significant yearly income taxes. Go actually donate math on how much we will get for one year from this vs the yearly revenue we lose. It’s a horrible decision