The Conservative Cave
Current Events => Politics => Topic started by: SVPete on September 21, 2026, 03:35:47 PM
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‘I’m out’: California wealth tax sparks stark business warning from entrepreneurs
https://nypost.com/2026/09/19/business/california-entrepreneur-warns-billionaire-wealth-tax-could-trigger-giant-sucking-sound-of-business-exits/ (https://nypost.com/2026/09/19/business/california-entrepreneur-warns-billionaire-wealth-tax-could-trigger-giant-sucking-sound-of-business-exits/)
California entrepreneur Eric Schiffer warned that the state’s proposed billionaire wealth tax could drive some of its most successful business leaders out of California, predicting a “giant sucking sound” of entrepreneurs heading for the exits if voters approve the measure.
Schiffer, chairman of family office Patriarch and CEO of Reputation Management Consultants, told FOX Business that he works with several billionaire clients, including some in California, and said many are unhappy about the proposal.
“I think the impact of this passing in California is a giant sucking sound of all of these entrepreneurs being sucked out of California because they’re just not going to want to stay,” Schiffer said.
“Why would anyone stay if they have spent their life building wealth that they were already taxed on?” he continued.
“You’re going to see some of the most brilliant, most successful men and women that have been the cornerstone of tax revenue and donational revenue and leading companies that are employing fleets of individuals and scores of individuals, they’re going to say, ‘No mas, I’m out. Goodbye,’ because they don’t feel respected or appreciated and they feel under attack,” Schiffer said.
Goobernor Noisome, goobernatorial candidate Becerra, and gubernatorial candidate Hilton, and multiple unions have been campaigning against this bit of envy-fueled moronicity. Besides the fact that billionaires and their businesses won't lay back to get raped, some ads point out that the "one-time" and billionaires-only provisions can, per the initiative be expanded into multiple times and extended to more than "just" billionaires (when ordinary middle-class homes in areas like SF, Silicon Valley, the Land of LA, and Orange County can top 1 or even 2 million $$, much of the state's population could get financially raped by this initiative).