John C. Havens

Billionaire Tax Works: No Exodus, Funds School Lunches

I am in support of the Billionaire Tax. Because taxing people living in a State that provided them the workers, STATE TAXES from Californians, etc, who are billionaires, is simply the right, moral, and fair thing to do. Also - taxing billionaires a one-time tax on wealth - as I understand it - means they pay X billion dollars that they'll then make up on the stock market in a few months. Maybe they'll have to hock one of fifteen yachts. But people like Brin are saying if this tax is enacted, all the billionaires will flee and take their companies with them. In Massachusetts, they had a millionaire tax along the same lines. Guess what happened? The millionaires didn't move, and guess what they did with the money coming from taxes? They paid for school lunches: https://lnkd.in/eSxeH6bv ***** Here's a few quotes from an article talking about how Sergey Brin is fighting the Billionaire Tax - wait for it - by paying workers $15 for each signature they collect in opposition to the Billionaire Tax. It's challenging to try to work for "Responsible technology" and fight for things like children's rights, data agency, environmental rights, re: hyperscale data centers and then read about this level of mendacious, puerile greed. So for fun, the next time you're talking about, "Responsible AI" make sure to talk about supporting the Billionaire Tax and Tax law in general (to keep the same people from using off short tax havens to avoid paying taxes at all). Or just say, "I support the Billionaire Tax." And, Sergei - just write the check on the money you owe the people of California. They're the reason Google was able to exist. https://lnkd.in/ehZnqrCX Campaigns in California are now paying workers $15 for each signature they collect in opposition to the billionaire tax, and the effort has some serious money behind it. Google co-founder Sergey Brin and other local magnates have created a new political group to combat the wealth tax, called Building a Better California. The new attempt, reports The Guardian, follows a recent proposed initiative, the 2026 Billionaire Tax Act. If passed, it would impose a one-time 5 percent tax on the net worth of individuals worth over $1 billion, with revenue going toward health care and education. The new ballot initiative is sponsored by the Service Employees International Union-United Healthcare Workers West. According to SEIU-UHW, roughly 200 people in California are identifiable billionaires, holding a combined wealth of $2 trillion. Now, wealthy opponents are funding a counterinitiative to weaken the billionaire tax. But it will be up to California voters, who will get to decide on the upcoming measures during the upcoming general election in November 2026.