Quote:
Larry Page, the Google co-founder and world's second-richest person, has reportedly left California as momentum builds behind a proposed wealth tax targeting billionaires, The Telegraph reports.
Page has shifted the registrations of several key entities including his family office and a flying-car venture from California to Delaware, according to state filings.
He has also personally relocated out of California ahead of a potential statewide vote on a wealth tax. Page told friends last month he was considering a move to Florida.
The proposed measure would impose a one-time 5% tax on individuals with assets exceeding $1 billion.
Appropriate Amount Of Accompanying Commentary and Context:
1) Wealth taxes are a bad idea. I think so and I think you should too.
2) Steal people's money and they will move it thereby eviscerating the tax base. I think this is bad and I think you should too.
3) I will now provide a link to the rest of the article. I think this is a polite thing to do and I think you should too.
Here is the link to the article.