CALIFORNIA — Google co-founder Sergey Brin has put more than $100 million behind efforts to defeat California’s proposed wealth tax, bringing his total
I think the idea is that OP thinks 102 million is either equal to or more than what he would have paid in taxes. It’s not.
I’ve looked at my paycheck and done the math. Every paycheck I get taxed roughly 17%.
I don’t know this guys annual income, but I’d be willing to bet if he had to pay a fair 17%, he would be paying a LOT more than 102 million.
So it got posted because at some point, the wealth of these people gets hard to comprehend just how much it is, because its hard to imagine having even a fraction of that money.
And this is old. They’ve been lobbying, since, nevermind offshore accounts, wealth in assets such as stocks, fine arts, crystal chandeliers and dinner service items, jewelry, private “company” jets, etc.
Not only that, but it affects his cronies too, and once it’s shown to be successful, it’s an incentive for other places to adopt something similar. Not Onion-y at all.
How is this /c/nottheonion material? Seems entirely on brand for a billionaire founder of Google.
I think the idea is that OP thinks 102 million is either equal to or more than what he would have paid in taxes. It’s not.
I’ve looked at my paycheck and done the math. Every paycheck I get taxed roughly 17%.
I don’t know this guys annual income, but I’d be willing to bet if he had to pay a fair 17%, he would be paying a LOT more than 102 million.
So it got posted because at some point, the wealth of these people gets hard to comprehend just how much it is, because its hard to imagine having even a fraction of that money.
I think I saw someone else say he would have to pay about $14 billion.
And still be a three-digit billionaire.
Imagine how much social, education, and medical service a $14 billion state windfall would pay for.
Anyone spending 8 figures to try to stop the bill should be charged double.
He’s not taxed that.
https://projects.propublica.org/americas-highest-incomes-and-taxes-revealed/
And this is old. They’ve been lobbying, since, nevermind offshore accounts, wealth in assets such as stocks, fine arts, crystal chandeliers and dinner service items, jewelry, private “company” jets, etc.
Not only that, but it affects his cronies too, and once it’s shown to be successful, it’s an incentive for other places to adopt something similar. Not Onion-y at all.