Toyota moving to Texas

NEW -> Contingent Buyer Assistance Program
Bye bye 115 year old California business…enjoy the jobs and tax base in Texas…😢👎🏽😡😡🦄🌈

World’s Largest Mozzarella Maker Shutting California Plant

The world's largest producer of mozzarella is closing one of its dairy plants in California due to the state's sky high operating costs.
One major factor likely driving the move is that California has a high corporate tax rate, while Texas's equivalent franchise tax is much less burdensome.
Additionally, California imposes higher payroll tax obligations on companies for things like unemployment insurance and disability insurance.

https://www.newsweek.com/leprino-foods-shutting-lemoore-california-plant-texas-layoffs-11254118
 
This is smart…🤦🏽‍♂️👎🏽😡🦄🌈

California billionaires threaten to leave state over proposed 5% tax on wealthy residents

The proposal would see a one-time five percent tax on the assets of residents in California worth more than $1 billion.

Some of California’s wealthiest residents are threatening to leave the state over a proposed tax that would impose a one-time five percent fee on assets of those in the state worth more than $1 billion.

Among those considering the move are tech venture capitalist Peter Thiel and Google co-founder Larry Page. Page, who is a longtime resident of Palo Alto, has reportedly discussed leaving the Golden State by the end of the year, two people briefed on the talks told the New York Times. Three limited liability companies associated with Page filed earlier in December to incorporate in Florida.

Palmer Luckey, cofounder of defense tech startup Anduril, has said that such a tax on billionaires would force "founders like me to sell huge chunks of our companies to pay for fraud, waste, and political favors for the organizations pushing this ballot initiative."

The ballot proposal is backed by the Service Employees International Union–United Healthcare Workers West. The five percent tax would apply to a wide range of assets, including stocks, real estate, artwork, and even intellectual property rights. To qualify for the statewide ballot, the union must collect roughly 875,000 voter signatures. California is home to an estimated 255 billionaires, more than any other US state.

Lucky continued, "I made my money from my first company, paid hundreds of millions of dollars in taxes on it, used the remainder to start a second company that employs six thousand people, and now me and my cofounders have to somehow come up with billions of dollars in cash. And if we can't, the state is going to seize my home and garnish my wages for the rest of my life. One market correction, nationalization event, or prohibition of divestiture (not at all uncommon during wartime) and I am screwed for life."

https://thepostmillennial.com/calif...tate-over-proposed-5-tax-on-wealthy-residents
 
Our brilliant leaders really do understand how economics work…🤦🏽‍♂️👎🏽😡🦄🌈

Billionaire Bill Ackman warns ‘no one would stay’ if California implements wealth tax​

Silicon Valley, the innovation hub of the world and home to some of the most successful tech companies, could soon turn into a ghost town — at least that’s the dire warning from billionaire hedge fund manager Bill Ackman.

“It would be catastrophic to California,” Ackman told The Post. “Every successful founder, entrepreneur would leave. Literally no one would stay.”

nypost.com

Billionaire Bill Ackman warns ‘no one would stay’ if California implements wealth tax

Silicon Valley, the innovation hub of the world and home to some of the most successful tech companies, could soon turn into a ghost town — at least that’s the dire warning from billionaire……
nypost.com nypost.com
 
morekaos said:
Our brilliant leaders really do understand how economics work…🤦🏽‍♂️👎🏽😡🦄🌈

Billionaire Bill Ackman warns ‘no one would stay’ if California implements wealth tax​

Silicon Valley, the innovation hub of the world and home to some of the most successful tech companies, could soon turn into a ghost town — at least that’s the dire warning from billionaire hedge fund manager Bill Ackman.

“It would be catastrophic to California,” Ackman told The Post. “Every successful founder, entrepreneur would leave. Literally no one would stay.”

nypost.com

Billionaire Bill Ackman warns ‘no one would stay’ if California implements wealth tax

Silicon Valley, the innovation hub of the world and home to some of the most successful tech companies, could soon turn into a ghost town — at least that’s the dire warning from billionaire……
nypost.com nypost.com
Click to expand...
Ackman acknowledges the likely end result - raising the sales tax which will soak the middle class.
 
Screw those people leaving…who needs ‘em? Ohhhh, they pay a lot of taxes and those replacing them cost us? Wait!!!....Come back!!!🤦🏽‍♂️👎🏽😡🦄🌈

California continued to lose people to other states in 2024

U-Haul, Atlas Van Lines, and United Van Lines all released data showing migration trends per state last year. While the numbers vary, each reported more customers moving away from California than moving in, mirroring migration data from the U.S. Census Bureau.

U-Haul, which ranked California last among “growth states” for the fifth straight year, said inbound customers accounted for just over 49% of one-way traffic, while 51% were outbound.

The numbers were more lopsided with the other two companies. Atlas reported that 60% of its shipments were outbound from California in 2024, compared to just 40% inbound. United had similar findings: 58% outbound to 42% inbound.

Also, more than half (54%) of those who left had incomes of $150,000 or more.

https://ktla.com/news/california/california-outward-migration-2024/
 
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Brilliant….🤦🏽‍♂️👎🏽😂😂🦄🌈

Larry Ellison quietly sells San Fran mansion for $45 million in city’s biggest sale — as billionaire tax fears loom

The sale comes as union progressives sharpen their knives in pushing for a wealth tax that would target the state’s billionaires with a 5% tax on their net worth — a move critics, and even state officials, say will drive the Golden States’ richest into exile.

If Ellison were hit with the tax, it could mean forking over $9.6 billion based on his current net worth of $192 billion, per Forbes.

“Given the billions in potential damage to his fiscal house if the California Billionaire Wealth Tax actually passed in November, I would suspect that Mr. Ellison was advised that retaining a California residence was not worth the risk of some future tax claim that he was domiciled in California,” David Lesperance, a leading billionaire tax advisor, told The Post. “In short, sell quickly as even a haircut would be a rounding error in comparison.”

https://www.aol.com/articles/larry-ellison-quietly-sells-san-210017042.html
 
morekaos said:
Brilliant….🤦🏽‍♂️👎🏽😂😂🦄🌈

Larry Ellison quietly sells San Fran mansion for $45 million in city’s biggest sale — as billionaire tax fears loom

The sale comes as union progressives sharpen their knives in pushing for a wealth tax that would target the state’s billionaires with a 5% tax on their net worth — a move critics, and even state officials, say will drive the Golden States’ richest into exile.

If Ellison were hit with the tax, it could mean forking over $9.6 billion based on his current net worth of $192 billion, per Forbes.

“Given the billions in potential damage to his fiscal house if the California Billionaire Wealth Tax actually passed in November, I would suspect that Mr. Ellison was advised that retaining a California residence was not worth the risk of some future tax claim that he was domiciled in California,” David Lesperance, a leading billionaire tax advisor, told The Post. “In short, sell quickly as even a haircut would be a rounding error in comparison.”

https://www.aol.com/articles/larry-ellison-quietly-sells-san-210017042.html
Click to expand...
If you want to see an interesting debate about the proposed wealth tax follow San Jose Mayor Matt Mahan on X. He is pillorying the tax and his local rival Ro Khanna. He lives in our old neighborhood and when I met him and commented how he was the only Dem I would ever vote for he told me “I am the most conservative Dem you will ever meet”.
 
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