“Cowardly Billionaires Scamper From California in Panic Over “Cruel” 5% Wealth Tax

CALIFORNIA IS COMMITTING ECONOMIC SUICIDE. In a SHOCKING display of MARXIST OVERREACH, the state’s radical left has UNLEASHED a WEALTH CONFISCATION scheme so extreme it has triggered a BILLIONAIRE BLOODBATH and a CAPITAL FLIGHT of UNPRECEDENTED scale.

The so-called “Billionaire Tax Act” is a TROJAN HORSE for FULL-BLOWN ASSET SEIZURE. This isn’t a tax; it’s a RETROACTIVE ROBBERY targeting net worth, not income, designed to LIQUIDATE the fortunes of innovators like Google’s Larry Page and Sergey Brin. As experts reveal, the fine print would CONFISCATE up to 50% of their holdings—a DECEPTIVE “5%” tax that obliterates wealth.

The result? A MASS EXODUS. Over $700 BILLION in wealth has ALREADY FLED the state in a matter of weeks, with titans like Oracle’s Larry Ellison leading the charge. “The California budget will be massively upside down,” warns tech billionaire Chamath Palihapitiya, as the very revenue this socialist dream hoped to tax VANISHES before their eyes.

This is a DIRECT ASSAULT on the American dream. Governor Gavin Newsom’s silence is DEAFENING—a tacit endorsement of this economic SABOTAGE. The architects of this measure, like SEIU’s Suzanne Jimenez, call it “a very minor tax,” exposing a CHILLING agenda to normalize the plunder of success.

Now, the middle class is next. As billionaires escape, the tax machine will HUNGER for new victims. Entrepreneurs are already fleeing, announcing moves to Florida and Texas, realizing California is a failed experiment in wealth redistribution.

The state’s demise is SELF-INFLICTED. Liberal elites who funded this madness, like LinkedIn’s Reid Hoffman, are now trapped in the monster they created. California is not just burning; it’s intentionally dousing itself in gasoline. This is what happens when ideology declares war on prosperity. WAKE UP, AMERICA: YOUR STATE COULD BE NEXT.