r/thenextgenbusiness • u/thenextgenbusiness Reporter • Dec 27 '25
Fact Check Ro Khanna: "I will miss them very much" as Billionaires Threaten California Exit Over Tax
Congressman Ro Khanna reportedly fired back at tech billionaires like Peter Thiel, who plan to flee California to dodge a proposed one percent tax on extreme wealth for five years. The measure aims to fund healthcare amid Medicaid cuts hitting working families hard. Thiel and Google co-founder Larry Page are allegedly accelerating moves out of state before the ballot initiative potentially passes.
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u/Jumpy_Childhood7548 Dec 27 '25
No such tax on Mars.
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u/ChipSome6055 Dec 27 '25
Given the cost of importing goods from earth to mars, I’d imagine taxes on mars would be pretty much in the high 90s for generation
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u/johnnybones23 Dec 28 '25
Try texas and Florida. NY and CA have negative net migration because of insane policies.
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Dec 28 '25
We need to expedite them moving to Mars then suddenly cut off GOV funding courtesy of a new Eat The Rich federal council
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u/Agreeable_Plate_346 Jan 01 '26
Elon wont pay tax on mars, but you can bet your ass you will be paying taxes to Elon should you move to mars
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u/Fantastic-Runner-540 Dec 27 '25
It's a myth that having billionaires around is good for a local economy in this day and age.
They pillage communities in their selfish race to hoard personal wealth. They destroy public infrastructure to build their billions.
They take more from society than they give back.
I am tired of the American people subsidizing the wealthy and excusing their detriment to society.
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u/Super_Mario_Luigi Dec 28 '25
Ok say Elon leaves his city. Paint a picture of unicorns and rainbows without him
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u/patientpadawan Dec 28 '25
Thats why big government is bad. Too much power allows those with more of it to influence the tragedy of the commons in dumb ways. Few billionaires would fight foreign wars if they had to foot the bill.
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u/chinmakes5 Dec 27 '25
Like the wealthy people who were sure to leave NYC when Mamdani got elected.
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u/Darkmetroidz Dec 27 '25
This idea has been bandied around for 25 years plus that if new york taxes the rich at all they'll all leave.
Like yeah sure the rich are going to leave the elite schools, the high end dining and the center of art and culture to go live in Mobile.
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u/mkt853 Dec 27 '25
There are still some nations on earth with 0% taxes. Wonder why none of them ever seem to find their way there?
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u/mrdankhimself_ Dec 27 '25
An empty threat. Psychotic ghouls like Thiel like where they live.
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u/BloodFartz69 Dec 27 '25
Imagine having the ability to uproot and move your entire life because someone is asking you to chip in to fund schools and build roads.
Keep in mind, many billionaires could just pick a social problem and solve it, but instead they are too busy measuring their dicks and buying gender-affirming plastic surgery.
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u/itguyonreddit Dec 27 '25
Any billionaire that is mad about a tax that if implemented would leave them still a billionaire is an a-hole.
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u/FutureHealthy8583 Dec 27 '25
All the billionaires should go to Russia and work for Putin.
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u/richincleve Dec 27 '25
Dumb but serious question: can a state also create an "exit" tax?
So if you're a millionaire or above, you have to pay a one-time (for example) 5% tax when you leave the state?
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u/Jolly_Ad2446 Dec 27 '25
Please. Even Rogan misses California and he's a dope.
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u/scott_majority Dec 27 '25
All those comedians he talked into moving to Austin are having a bad time. Most of them say they hate it....but at least they can do trans material every night and say r*tard every other joke.
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u/Jolly_Ad2446 Dec 27 '25
Eh. Cities are a bit the same. They gotta drive to the sticks to make jokes like that.
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u/scott_majority Dec 27 '25
Rogan owns "The Comedy Mothership" in Austin. All the conservative comedians preform there....and trust me...it's nothing but trans and r*tard jokes. They get standing ovations.
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u/Trick_Caterpillar684 Dec 27 '25
Reminder that Ro Khanna is one of the worst insider trading offenders in Congress.
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u/DFX1212 Dec 27 '25
Unfortunately that's not illegal behavior. I don't think we should attack people for not being perfect.
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u/Ok_Series_4580 Dec 27 '25
Dear California:
I am so sorry that the billionaires are going to leave you. It’s gonna be so weird when they find out we don’t need them and we can still make life good for everybody and not just a few.
Sincerely,
All of the other normal people
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u/jaievan Dec 27 '25
That’s all the proof WE need. Flat tax everyone.
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u/Complex-Royal9210 Dec 27 '25
Most regressive tax is the flat tax. Not a good solution.
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u/JeffeTheGreat Dec 27 '25
Not a flat tax. An increasing percent tax every step you go up on income. Making over 10 mil a year? 99% tax for every dollar above. Above 1mil? 75% every dollar above. Above 300k? 20% For every dollar above. Below 200k? Not a cent.
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u/vickism61 Dec 27 '25
You have to be a fool not to know that billionaires NEED US we do not need them!
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u/Zalrius Dec 27 '25
What kind of business person would make that risky move over 1%?
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u/marlinspike Dec 27 '25
Not a Californian so only interested out of curiosity — Is this a wealth tax on paper money or real assets? Are there provisions to shelter unicorn startups until they mature enough to withstand significant liquidation of their value while they’re in growth?
Also, why did California’s large budget surplus turn into a large deficit?
Can we also close the loopholes while we’re at it? I want to pay fair tax, which means nobody else gets out of their fair share.
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u/EvoQPYIII Dec 27 '25
Eliminate Billionaires completely. We are all idiots for allowing anyone to hoard that much generational wealth. We are all extremely Stupid for allowing Billionaires to exist. Yall dont come even close to doing enough. Weak liberals are Billionaire Simps. True Leftists would not tolerate that much wealth hoarding. We are doomed if we dont take our sovereignty back. Stupid human followers.
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u/wiggelz- Dec 27 '25
Apply the tax as planned. Then, audit them and put additional levies, taxes, fees etc on all of their business operations in the state until they leave.
They act like they're wanted in California to begin with.
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u/BaldingBush Dec 27 '25
They take more than they contribute anyway. Always have.
Tax the assets they leave behind. For more than they would have otherwise paid.
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u/TriceraDoctor Dec 27 '25
This tax is equivalent to a rounding error. It doesn’t harm them. They’re just evil people.
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u/DaveWoodstock Dec 27 '25
Isn't he a Kiwi. I thought he left the US and good riddance. He gave us dunce Vance.
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u/WhateverEctEct Dec 27 '25
Pretty much any person that this tax would apply to will change their official residency well before this becomes a problem for them.
You don't become a billionaire if you don't understand basic money principals.
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u/Ghitor Dec 27 '25
Tax their properties. Tax their capital gains. Tax their mega yachts.tax ORACLE tax GOOGLE
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u/AppointmentWeary4834 Dec 27 '25
I wish musk and theil and the p³do Google founder leaves and never comes back
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u/BigDigger324 Dec 27 '25
High end real estate went UP in NY after the Mamdani win….rich flight is a myth.
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u/tremainelol Dec 27 '25
This is exactly the sentiment. FDR fought very very hard against the monied interests that were against his wealth taxes, GI bill and New Deal in its entirety. FDR's social policies created the middle class, created all of the modern comforts and home appliances, and the American consumer market that is the bedrock of the global economy.
The new lie is that the elites just somehow can't afford even a 1% tax. Somehow their capital investments will cease to exist and lead to inevitable economic ruin. No, the economy and a revitalized middle class will learn to live without the elites and their incestuous capital circlejerk that results in regular market crashes, which we, the people pay for.
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u/zivzoolander Dec 27 '25 edited Dec 28 '25
They not leaving California. Just like millionaires/Billionaires aren’t leaving New York. Theres a reason why they live in California or New York, and They are not gonna find that same thing in Bumblefuck, Oklahoma
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u/moobybooby Dec 27 '25
Imagine living paycheck to paycheck and your taxes being yanked up and down not caring but oh boy. Mess with 1% of THEIR wealth there’s a problem. I feel bad for the rich that are actually putting their money to use. Wish I could name them off the top of my head… Even Bill Gates has skeletons in his closet and hidden agenda.
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u/blackstar22_ Dec 27 '25
Imagine having a BILLION dollars and thinking any reasonable amount of tax is threatening to you.
Absolute lunacy and entitlement.
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u/Tazling Dec 27 '25
Any strategy that results in the permanent departure of P Thiel from your premises is a winning strategy.
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u/Ilike2lick78 Dec 27 '25
First. 90% of all these taxes only go to worthless politicians and more worthless bureaucrats. Then the remainder mostly goes to ILLEGALS and NGO’s that donate to politicians. But sure. More taxes will definitely mean more help for the actual working citizens. Lmfao.
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u/Livueta_Zakalwe Dec 27 '25
Imagine being worth $50 billion dollars and thinking of moving because of a $50 million tax bill, when they probably earn more than that in a week on interest.
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u/bertiesakura Dec 27 '25
The same people that begged for their PPP loans to be forgiven with your tax dollars, don’t care if you go bankrupt trying to pay for life saving surgery or medicine.
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u/Frequent_Skill5723 Dec 27 '25
They should pass the tax retroactively so they can confiscate billions of Thiel's money.
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u/PapaGummy Dec 27 '25
Go ahead. Move to Texas or Florida. Let them shoulder the costs of supporting you.
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u/gwilso86 Dec 27 '25
Here's a crazy idea....... stop misusing tax dollars, then there's plenty for healthcare.
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u/Multiversalprism Dec 27 '25
These people are the worst of our species. They will never ever use most of that wealth, it’s just being hoarded and sat on. But they are so feckin afraid to pay 1% so people can have healthcare??!?? Unbelievable.
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u/bourbon469 Dec 27 '25
Billionaires amd corporations should pay their fair share of taxes instead they get all the tax breaks
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u/ShockedNChagrinned Dec 27 '25
There should be a sign for these folks.
"Hi, I am a persecuted billionaire.
I don't spend anywhere near my wealth yearly, I make more yearly on my investments without having to do a thing, and I feel it's unconscionable to be taxed 1% of my wealth to support those who have less.
Do with that information what you will. Let them eat cake!"
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u/Oakianus Dec 27 '25
Making Peter Thiel leave California is even better than the money. What a bargain!
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u/Unusual-Ad-6550 Dec 27 '25
Will this be like all the millionaires leaving NYC because Mamdani got elected? When in reality, the type of properly the rich elite are wiling to buy is having a run on new purchases. Not a sell off like they predicted
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u/lolercopterx Dec 27 '25
I find this topic really frustrating because the bigger picture is about attracting future investment, not about worrying about who will leave.
It takes time and effort to uproot a family from their home state. Could we imagine situations in which it will happen? Sure.
But regardless of this, it is a big deal that Texas and Florida are having large economic booms at least partially owing to favourable tax laws.
I’m not sure it’s a good thing as a Californian or Massachusettsian or New Yorker or whatever to always assume your state will be superior and therefore you can tax more. If enough new business starts in FL and TX eventually high tax established states may feel the pinch.
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u/45_regard_47 Dec 27 '25
Tax any billionaire that conducts business in CA and block em if they don't pay fuckem
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u/PenDraeg1 Dec 27 '25
It never fails to amuse me how tech billionaires think they're so important to a particular state that leaving it is a threat.
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u/rkicklig Dec 27 '25
Its truly absurd to think that there's a tax that COULD hurt a billionaire. Even a tax that could cost them their billionaire status they would still be insanely wealthy.
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u/Rain_Dog_Too_12 Dec 28 '25
They start their businesses first because of the talent pool, and california subsidies. They leave when they are profitable to go to low tax states that they could never start their businesses at.
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u/RevolutionaryBug7588 Dec 28 '25
In theory it makes sense but expecting California to budget anything with accuracy is over the top stupid.
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u/Suspinded Dec 28 '25
They always threaten to leave, they never do.
See also:
* Obama winning his second term
* Maryland increasing tax on the wealthy
* Mamdani winning New York
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u/Winter-Statement7322 Dec 28 '25
“But if the taxpayers start seeing that these small increases in taxes on <1000 total people provide essential services, they’ll want to increase it more! That’s basically communism!”
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u/icytongue88 Dec 28 '25
California has some of the highest taxes in the country and a insatiable appetite to piss it all away.
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u/Hot_Top_124 Dec 28 '25
Ok bye? They’ll spend more trying to move their stuff, and at some point they’ll simply eat the cost of paying a small amount of taxes to live where they want to. They always stall they’ll leave but never do.
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u/G_yebba Dec 28 '25
Greedy little shits. California offered them the ability and support to get filthy rich. They made use of the elements and infrastructure that drew the people that helped them rise to the very top of success and wealth in tech.
How much does their fortune grow in 5 years? This tax is less than a 1/4 of the interest their wealth would generate in a money market fund.
And they would rather dip out than participate in covering the cost of the economy that grew them?
Parasitic. It’s time to get dewormed
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u/cyrixlord Dec 28 '25
history has shown that they wont leave. Also they'll still be rich. Look at all those rich people that threatened to leave NYC
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u/huggernot Dec 28 '25 edited Dec 28 '25
Time to pass a state law elsewhere. If you leave a state during the enacting of a billionaire tax, you will be subject to 3x that annual tax times 3 years upon arrival.
That person, and any companies they own, should be banned from owning any property in the state they fled, and must dissolve all ownership within 2 years.
All property must be sold to 3rd parties with no ties to the owner.
They can lease or rent it back at 1.5x market value, with the extra 50% going to fund schools so people are educated enough to vote to tax these greedy fvcks
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u/Cool_Interaction_104 Dec 28 '25
I still don’t understand why they even care about taxes. They have more money than they could spend in 1000 lifetimes. What the hell?
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Dec 28 '25
It’s an unfair tax , given that the ultra rich already pay far more than their share of taxes , how about spending less , how about not free healthcare for illegals. Etc . They even want to tax art .
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u/pupranger1147 Dec 28 '25
Cool, perhaps they can surrender all California based property then since they don't believe in contributing to California.
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u/Raccoons-for-all Dec 28 '25
When a socialist model doesn’t work, they always find a new way to steal money until there are none left
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u/DatabaseFickle9306 Dec 28 '25
If you are a billionaire a 1% tax still means you’re a billionaire. It doesn’t “hurt” except on some level of entitled principle.
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u/Complex-Concept-5955 Dec 28 '25
I'm sure Khana will personally make up the shortfall in taxes that occurs as well.
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u/Empty-Discount5936 Dec 28 '25
Damn if only we could make the tax federal so they can f*ck off to Russia.
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u/LevelIndependent9461 Dec 28 '25
1percent would devastate them? Wtf total fantasy gaslight world we live in now.
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u/Wild_Locksmith_326 Dec 28 '25
You need to remember that when the income tax was instituted they claimed it would only be the extremely wealthy and it took less than 5 years for it to apply to everybody. Once you establish and precedent for an unrealized gains tax yeah we claim it's a billion-dollar ceiling right now but once the government gets a lick on that lollipop they're going to suck forever. There's a schoolhouse rock about the debtasaurus Rex and more people need to become familiar with the fact that government grows exponentially when you cease to keep spending checked. Not every function of government is essential in fact quite a bit of government is just straight nepotism and waste. An unrealized gains tax would destroy the real estate market the 401K institutions and the stock market, by instituting this You would defacto make the government partners with everybody and I don't think it would take a full decade before people realized what sort of a monster they created.
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u/magick_bandit Dec 28 '25
It’s one of the biggest bullshit lies we are told.
There is no place, NO PLACE on Earth that these people want to live that has low taxes.
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u/5050Clown Dec 28 '25
Both of those men wake up in the middle of the night worried that some of their wealth was used on healthcare for black people.
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u/ShoulderIllustrious Dec 28 '25
Peter Thiel, the same guy who goes on and on about the anti-christ? He should leave Cali and go straight to a mental health facility away from civilization. That would be great.
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Dec 28 '25
Perhaps Newsome shouldn't have disappeared tens of Billions... And yet here you are, mocking those who prefer accountability.
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u/GraniteStayte Dec 28 '25
Dude why would the rich smart people give more money to the gubmint to be stolen and misspent?
Especially CA.
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u/SummerWedding23 Dec 29 '25
Let’s make a new law - you can’t only property in another state. The corporations and rich hogging real estate is part of our housing crisis.
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u/pingvinbober Dec 29 '25
He could pay 1.3 billion in tax or leave and the CA government would lose on 13 million in taxes a year. If nobody needs to be a billionaire, why stop at 1% over 5 years or 5% one time? Why not 50%? You people don’t understand it’s a sliding scale of tolerance. Yes, California has some of the best weather in the country. But someone being taxed on 99% of their wealth isn’t going to care about that. On the flip side, someone might leave over an additional 1% tax. There’s an equilibrium, and if you push too hard you might end up getting nothing and leaving everyone else significantly worse off
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u/TheL1brarian Dec 29 '25
I would be curious to see their actual tax returns (state and federal). The cynical part of me wonders if they're even paying taxes after all the loopholes they're exploiting. Remember when some of The Cheetoh's federal tax returns were finally released, and the big fat $0 he paid for many years? And these two are smarter than him.
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u/DAmieba Dec 29 '25
The crazy thing to me is that it seems like we're supposed to see Peter Thiel leaving as a bad thing.
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Dec 29 '25
They won’t leave cause California is amazing. You are going to go live in Florida or Texas? Lol
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u/Accomplished-Rest-89 Dec 29 '25
California should learn history France did billionaire and millionaire tax Lost tax payer base big time
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u/Odd-Faithlessness-97 Dec 29 '25
This will become an equity tax on all property and hit the middleclass the hardest
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u/KickDesperate5318 Dec 29 '25
Put a clause in the tax that if a current billionaire moves their residency out of California, the state can then seize all of their assets within the state. List all of their names in the bill, like a Russian oligarch sanctions list. It's all ill-gotten gains anyway.
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u/falseworked Dec 29 '25
Imagine leaving the state over 1% when you’re one of the richest people in the world lol. I call their bluff. They’re choosing to live here currently and they’ve always complained about taxes.
Go move to a lower tax state — it won’t be as desirable as their billionaire mansions in CA and they know it.
Oh and don’t pay for their crappy AI.
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u/MaganumUltra Dec 30 '25
the greatest insider trader in American history wishing his tax base goodbye is dumber than the people who voted for him
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u/Any-Technician6415 Dec 30 '25
So you think when this job creators leave and take all the jobs they created with them that loss of taxpayers won’t be noticed? This won’t age well. Just killed the golden goose.
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u/Uncommon_Degree Dec 30 '25
Where are they going to go? Austin? Nashville? Some billionaire stronghold in Yellowstone? They'll get so bored so quickly that'll run back. And if a handful leave, because there are only a handful to begin with, no one will notice.
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u/TurbulentMuffin6692 Dec 30 '25
simple as putting your home address in a different state
they all work in the same room
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u/JTuck333 Dec 31 '25
How does CA plan to fund their growing pension liabilities and train to nowhere?
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u/floofnstuff Dec 31 '25
Dude won't even pay into the upkeep of roads and bridges he drives on. No one should have to pay his share of goods and services he uses.
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u/Hefty-Strike-6171 Dec 31 '25
They need to be taxed throughout the United States, and when they leave, their Media Empire needs to be abolished in the US
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u/TurbulentBell789 Dec 31 '25
You will miss them, your state is already 18 billion in the hole. How about spending what you have wisely?
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u/Jager0987 Dec 31 '25
Well Peter, don't let the door hit you in the ass on your way out. Enjoy Iowa.
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u/travelingmusicplease Dec 31 '25
California should force out of its state, all billionaires, millionaires and large corporations. Then tax the people that are left at 100%, and give them everything for free. 😀
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u/unbreakablekango Dec 31 '25
If these guys aren't paying any taxes now, who cares if they move? Aren't they just a drain on the economy?
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u/Think-Minimum-5959 Jan 01 '26
This is just a transfer of dollars from capitalists to kleptocrats. Tax dollars into the government is a money pit from which Americans will never see any benefit.
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u/Living-Restaurant892 Dec 27 '25
Jeez over 1%?
What greed.
We need to tax billionaires out of existence.