Intrusive way California will target billionaires who fled hated wealth tax — as top 3 targets emerge

Billionaires Ditching California Still Face Tax Threat

Sergey Brin and other absurdly wealthy people who’ve fled the state could be subject to ‘intrusive’ residency audits.

Flight of the billionaires

The absurdist playwright Eugène Ionesco wrote Exit the King. It stands out in Ionesco’s canon as a play whose plot is straightforward and focuses on depletion rather than accumulation. In that sense it resembles the proposed billionaire tax that has made its way onto the California ballot this November. We have been following the proposed tax and its federal counterpart in several posts on Power Line (with more to come). California billionaires …

Can California Actually Make Billionaires Pay?

On the Political Scene podcast, the architect behind a new initiative saw no path to passing a wealth tax through the legislature. Instead, he’s taking it to California voters, sparking an expensive political fight.

POLITICS: California will start hunting billionaires that left

California’s proposed “billionaire tax” will be collected by the Franchise Tax Board if it passes in November. But it should really be run by the US Fish and Wildlife Service, because it looks like a hunting license — targeting the billionaires who have left the state. The California Post reported Wednesday that the state intends to go after wealthy taxpayers who left the state to avoid the possibility of having to give up 5% of their wealth. Th…

Intrusive way California will target billionaires who fled hated wealth tax — as top 3 targets emerge

Google co-founder Sergey Brin, venture capitalist and White House advisor David Sacks, and Uber co-founder Travis Kalanick should expect audits.

Billionaires fleeing California wealth tax risk strict residency audit

The Golden State has a history of aggressively pursuing rich individuals who claim to have relocated to low-tax jurisdictions.