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Open original source ↗Don’t say we didn’t warn you.
It’s only an absolutely horrible idea that makes Peter Thiel, Sergey Brin, Larry Page, Reid Hoffman, David Sacks and Gavin Newsom all agree.
This proposed “Billionaire Tax” will blow a massive hole in the California deficit and ruin the tech economy in California.
The middle class will then be forced to pay for it if this passes because all the rich people are leaving! It’s mathematical at this point.
Newsom needs to find a way to balance the budget and shelve this wealth tax from ever making it to the ballot.
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The @CAgovernor and I have had our policy disagreements over the past few years on issues like his opposition to Prop 36, but he is spot on here. This so-called wealth tax is going to backfire and middle class taxpayers are going to be forced to pick up the bill. We need to close federal tax loopholes, cut waste - not crash California's economy. https://t.co/SBQKWCUv39
MattMahanSJ ↗