Tax your fooking billionaires.
The situation is resulting in this terrible feedback loop of higher taxation, increased regulation, decreased productivity, and increased poverty. And then people turn to socialist politics which just continues to exacerbate the situation.
US billionaires pay taxes ? Sounds like the start of a a great joke, what's the punchline ?
Remind me, who are those groups of people moving to Florida, Texas or wherever else just so they can escape the California wealth tax which is only a one-time 5% ?
Oh yeah, that's right. The US billionaires who are apparently so diligently willing to pay their taxes.
Well, if they are residents of California, then they should "pay taxes regardless of residence", i.e. in California ?
Instead, decamping to Florida, Texas or wherever else seems to me very much paying quite a lot of regard to residence ?
And again, just because they move to a state with lower taxes doesn’t mean they don’t pay taxes. The highest earners in the US pay the vast majority of taxes. This is a fact you can easily look into yourself.