Google Founders Exit California Amid Billionaire Tax Push
The Spin
Left narrative
California's proposed wealth tax is a fair measure to ensure billionaires contribute their share after receiving massive federal tax breaks while working-class residents face devastating Medicaid cuts. The tax would raise $100 billion over five years for education and health care, and many billionaires are willing to pay it. The wealthy threatening to flee are simply indignant about losing their unfair advantages in a tax system where they pay lower effective rates than ordinary workers.
Right narrative
California's wealth tax is a catastrophic policy designed to confiscate assets and drive productive billionaires out of the state through intentional destruction. The tax's flawed design would force Google founders to surrender 50% of their Alphabet shares because supervoting rights inflate their taxable wealth to $1.2 trillion each, turning a "5%" tax into outright confiscation. This isn't about fairness but about bankrupting California and executing the greatest land grab in history.
Establishment-critical narrative
California's so-called billionaire tax could extend far beyond the ultra-wealthy. Framed to target billionaires, the measure introduces a new tax system allowing the government to assess personal property — from jewelry and furniture to cars and investments. It undermines private property rights, potentially affecting every American. While billionaires' net worth totals $8 trillion, the combined wealth of the U.S. middle class and others reaches $170 trillion, raising concerns that this system could eventually reach far beyond its initial targets.
