January 28, 2026
Monopoly Man vs. Moving Vans
If You Tax Them, Will They Leave?
Silicon Valley says they’ll flee; commenters clap back: “then go”
TLDR: California may vote on a one-time wealth tax hitting about 200 ultra-rich residents to help fill a health-care funding gap, with Newsom opposed and Sanders cheering. Commenters are split: some predict a billionaire exodus, others say “let them leave,” and moderates call the whole framing a false choice.
California’s latest drama: a one-time wealth tax aimed at about 200 of the state’s richest residents. Tech titans are sounding the alarm—Y Combinator’s Garry Tan warned it would “kill and eat the golden goose,” and Governor Gavin Newsom says he’ll try to stop it. On the other side, Bernie Sanders calls it a national model. The comments? Absolute cage match.
One camp is yelling “they’ll bolt,” tossing out case studies from New York to Denmark and predicting a billionaire conga line to Texas, Florida, Singapore, and Dubai. Meme-wise, think the Monopoly Man sprinting across state lines with a U-Haul and a Patagonia vest—the feed ate it up. Another camp is pure scorched earth: “Let. Them. Leave.” They argue California’s talent and resources will carry on just fine without billionaire tantrums.
Then the nuance squad showed up. Some say this “tax or they flee” setup is a false choice—the real fix is building a system that doesn’t rely on a tiny superrich class for revenue. Others drop receipts, like Norway’s experience, to warn that wealth taxes can backfire. Meanwhile, policy nerds note why this exists at all: a federal tax cut blew a $20B hole in California’s health-care budget, risking 1.6 million people’s coverage. It’s not just vibes—it’s hospital bills, too.
Key Points
- •California will likely vote in November on a one-off wealth tax affecting about 200 of the state’s wealthiest residents.
- •Tech leaders, including Y Combinator CEO Garry Tan, argue the tax could harm startups and prompt departures from California.
- •Governor Gavin Newsom has said he will act to stop the initiative, signaling executive opposition.
- •Senator Bernie Sanders supports the measure, calling it a model for national adoption.
- •The proposal arose after federal tax cuts under Donald Trump reduced Medicaid spending, contributing to an estimated $20 billion annual shortfall in California’s health-care budget; Kaiser Family Foundation estimates 1.6 million could lose health care if unaddressed.