California Billionaires Are Leaving the State in Response to Proposed Wealth Tax

RocksInMyHead · Jan 19, 2026

Hentenza said:
An that is where we disagree. Income taxation is just that. The money from income taxation, in addition to business taxes, tariffs, etc., are used to fund programs.

Yes, wealth is redistributed so as to provide for the benefit of society rather than simple profit motives. That's an element of socialism.

Hentenza said:
In a socialist society, like Cuba for example, the government owns the means of manufacturing, utilities, etc. which does not happen in capitalistic societies.

Government ownership of the means of production and central management of the economy are absolutely key features of a socialist state, but we're not talking about what makes a socialist state. If you think that a wealth tax is socialist, why would income taxes and the various social benefit programs funded thereby not also be socialist? In both cases, money is being redistributed from the wealthy for the benefit of society.

Hentenza · Jan 19, 2026

RocksInMyHead said:
Yes, wealth is redistributed so as to provide for the benefit of society rather than simple profit motives. That's an element of socialism.

Income and wealth are not the same. The social programs are funded by income taxes and other taxes not by wealth. A billionaire can have an income of $1 million, for example, but a wealth of $2 billion, for example. The $1 million gets taxed under income taxes but the wealth (example stocks) are not taxed until they become income.

RocksInMyHead said:
Government ownership of the means of production and central management of the economy are absolutely key features of a socialist state, but we're not talking about what makes a socialist state.

Going after people’s assets and wealth are components of socialism. In the US that has never been the case and changing to that direction would be a departure from the way we conduct business.

RocksInMyHead said:
If you think that a wealth tax is socialist, why would income taxes and the various social benefit programs funded thereby not also be socialist? In both cases, money is being redistributed from the wealthy for the benefit of society.

See above.

NxNW · Jan 19, 2026

Hentenza said:
Some are hanging by a nail like Venezuela and Cuba. You made the leap not me.

Some, but not all?

Please list some of the some.

Hentenza said:
That socialism sucks and what California is trying to do will come back and bite them.

You haven't done a great job demonstrating the first point.

RocksInMyHead · Jan 19, 2026

Hentenza said:
Income and wealth are not the same. The social programs are funded by income taxes and other taxes not by wealth. A billionaire can have an income of $1 million, for example, but a wealth of $2 billion, for example. The $1 million gets taxed under income taxes but the wealth (example stocks) are not taxed until they become income.

I'm aware of the fact that income and wealth don't mean the same thing. So far, you've failed to articulate why going after one is permissible, but not the other. The US changes how it does business from time to time as the situation necessitates, so "We've never done that before!" doesn't really carry any weight as an argument.

The current situation is that we have a growing divide between the ultra-rich and the rest of the country, with wealth becoming increasingly concentrated in a tiny fraction of the population. That, in an objective sense, is not good for the country. Would you agree with that assessment? A wealth tax is one potential way of addressing the issue.

Hentenza · Jan 19, 2026

NxNW said:
Some, but not all?

Name a socialist country that has been successful.

NxNW said:
Please list some of the some.

Nah, your turn. I’ve already given examples.

NxNW said:
You haven't done a great job demonstrating the first point.

You are entitled to your opinion. I’m not impressed with your responses either.

GoldenBoy89 · Jan 19, 2026

Hentenza said:
Name a socialist country that has been successful.

China.

Hentenza · Jan 19, 2026

RocksInMyHead said:
I'm aware of the fact that income and wealth don't mean the same thing. So far, you've failed to articulate why going after one is permissible, but not the other. The US changes how it does business from time to time as the situation necessitates, so "We've never done that before!" doesn't really carry any weight as an argument.

I’ve addressed every one of your posts and explained my points. You don’t have to agree with me just like I don’t have to agree with you. But, yes, I gave articulated my position. It seems that we have arrived at an impasse. It’s been nice talking with you.

RocksInMyHead said:
The current situation is that we have a growing divide between the ultra-rich and the rest of the country, with wealth becoming increasingly concentrated in a tiny fraction of the population. That, in an objective sense, is not good for the country. Would you agree with that assessment? A wealth tax is one potential way of addressing the issue.

I agree with that but I don’t agree with a wealth tax. I consider a wealth tax to be a government overreach.

Hentenza · Jan 19, 2026

GoldenBoy89 said:
China.

Then you agree that forced labor and exploitative working conditions make an economy successful?

GoldenBoy89 · Jan 19, 2026

Hentenza said:
Then you agree that forced labor and exploitative working conditions make an economy successful?

Idk about all that. I’m just pointing there is at least one successful socialist country besides the classic examples of Cuba and Venezuela that have been destabilized, sanctioned and embargoed into abject poverty as official policy by the United States.

Hentenza · Jan 19, 2026

GoldenBoy89 said:
Idk about all that. I’m just pointing there is at least one successful socialist country besides the classic examples of Cuba and Venezuela that have been destabilized, sanctioned and embargoed into abject poverty as official policy by the United States.

The US has some historical responsibility in South and Central America but the tyrants of both Venezuela and Cuba fell by their own failed policies and the ransacking of their respective countries.

RocksInMyHead · Jan 19, 2026

Hentenza said:
I consider a wealth tax to be a government overreach.

I understand that you think that. I'm trying to figure out why though - all you keep repeating is that "It's socialism!"

Hentenza · Jan 19, 2026

RocksInMyHead said:
I understand that you think that. I'm trying to figure out why though - all you keep repeating is that "It's socialism!"

As I stated I consider a wealth tax to be a government over reach. I’m not quite ready to allow the government access to my bank accounts or investment accounts. Secondly taxing wealth would be taxing unrealized gains or loses since wealth is dynamic instead of realized income and gains for income tax purposes.

NxNW · Jan 19, 2026

Hentenza said:
Name a socialist country that has been successful.

You're avoiding my question.

Hentenza said:
Nah, your turn. I’ve already given examples.

No, you haven't.

Hentenza said:
You are entitled to your opinion. I’m not impressed with your responses either.

I'm just asking questions, and you keep changing the subject or refusing to answer.

Lukaris · Jan 19, 2026

Socialism in action. Chase out the “non tax payer” billionaires and provide jobs for the working folks.

The billionaires who were chased out of a celebrity, socialist politician’s district in the Bronx:

Alexandria Ocasio-Cortez Celebrated Amazon Pulling Out of New York––But the Governor Says It Cost the City 25,000 Jobs

The spat lays bare a growing divide ahead of presidential primaries over corporate ties

time.com

Don’t worry folks, the socialists have generated good paying jobs they have provided since getting rid of Amazon in 2019.

Exclusive | AOC ripped as her NYC district is overrun by seedy ‘Market of Sweethearts’ – and Dem pol nowhere in sight: ‘Community is suffering’

Civic leaders, merchants and residents along the seedy Roosevelt Avenue corridor in Queens accused Rep. Alexandria Ocasio-Cortez of being missing in action in the campaign to clean up the infamous …

nypost.com

Prostitution crisis in AOC's district could worsen if Mamdani is mayor, rivals predict

Andrew Cuomo Curtis Sliwa warned that if Zohran Mamdani becomes mayor, a prostitution strip of AOC's district will become a lot worse.

cbsaustin.com

Hentenza · Jan 19, 2026

NxNW said:
You're avoiding my question.

No, you haven't.

I'm just asking questions, and you keep changing the subject or refusing to answer.

I’m going to start writing slower because it seems you keep missing what I’m writing or maybe you are just doing it on purpose. I have named socialist countries that are in trouble such as Venezuela and Cuba. We’ve talked about countries that are capitalistic but with socialist type entitlements like Sweden and Norway. So what is it that you actually want?

NxNW · Jan 19, 2026

Hentenza said:
I’m going to start writing slower because it seems you keep missing what I’m writing or maybe you are just doing it on purpose. I have named socialist countries that are in trouble such as Venezuela and Cuba.

But you claimed "some" are hanging by a thread. Therefore some are not. I asked you to name some of the some that are not. You still have not done so.

Hentenza said:
Then you agree that forced labor and exploitative working conditions make an economy successful?

Again with the moving goalposts. But yes, obviously, since that description applies to the US.

Always in His Presence · Jan 19, 2026

GoldenBoy89 said:
China.

China is Communist

how embarrassing.

Hans Blaster · Jan 19, 2026

Always in His Presence said:
China is Communist

A form of socialism.

Always in His Presence said:
how embarrassing.

Indeed. Does the name Union of Soviet Socialist Republics ring a bell?

GoldenBoy89 · Jan 19, 2026

Always in His Presence said:
China is Communist

The Communist Party of China describes itself, its policies and the country as socialist.

You seem to have missed (or are deliberately overlooking) the point that they’re not a failed state like Venezuela.

Always in His Presence said:
how embarrassing.

Stopped_lurking · Jan 19, 2026

Always in His Presence said:
Uh, yes you did.

@Hentenza introduced Sweden to the discussion already on page 1, post #9 (my post quoted him didn't it, or did I quote you instead?).

Your quote of me doesn't discuss who pays taxes either. What are you talking about?

Always in His Presence said:
And I pointed out that the middle class pays three times the taxes that we do in the U S.

I figured you read your own post

I did, can you now point out where I discussed who pays taxes in Sweden?

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California Billionaires Are Leaving the State in Response to Proposed Wealth Tax

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