Gabriel Zucman
@gabriel_zucman
Chasing wealth and income, present and past, onshore and offshore.
(en Français)
(in English)
955 Following 137.1K Followers
The key problem is this:
Why would billionaires permanently leave California in response to a one-time tax owed if they lived there on January 1, 2026?
It would only make sense for them to leave if the tax becomes annual.
But if the tax becomes annual, it would also generate revenue annually — by virtue of, well, being annual.
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Hi @elonmusk , we’ve conducted the most comprehensive study to date on tax unfairness in the United States.
We found that you, like your fellow billionaires, pay a lower effective tax rate than the average American.
So if you really want to help the American people, I have a better suggestion than charity: pay more taxes. 🧵
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A one-time 5% wealth tax would bring Silicon Valley’s billionaires’ wealth back to where it was just 31 days ago, on September 7.
When it was "just" 178% higher than on January 1, 2023.
They’d rather let 3 million people lose their health insurance than let that happen.
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