California Billionaire Tax Is A Lie

Added: 2026-05-24

[00:00:00]We get big news out of California with this billionaire tax and it's a big lie and I'm I'm reading a bunch about it's fascinating because we already know all about this thanks to research done in the past we know about the LER curve. So they're like we're going to tax billionaires within this provision also in includes requirements for everybody not just billionaires where if you don't properly value your assets they could see they they there's a 40% penalty. So what's going to happen is we're going to tax the billionaires one time 5%. Any mobile cash is already gone. So what's going to happen now is you're going to force the liquid the the the the sale of hard assets from the billionaires in California. These are people who own real estate, big companies that can't move. They're going to be forced to liquidate to get the money to pay this fine. It's going to reduce the company's footprint, reduce their economic activity. Mobile cash is already gone.

[00:00:51]your revenue. I was reading this. They expect revenue to drop by something like $2 billion over the span of several years for a one-time gain of like $7 billion. They're like, "Yeah, I'm probably getting the numbers wrong, but something insane where it's like, we're going to get a one-time value by and destroy the economy." You know what, man? I don't live in these places, so you guys do you. But I'm gonna wrap it up.