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Wall Street Mav @WallStreetMav - It is stunning that they are going to go through with this. Everyone who can do math recognizes that this will result in LESS tax revenue coming in.
Because the proposed tax is retroactive to January 1, 2026, wealthy people with $1 trillion in assets have already moved.
Those people paid massive amounts of income and capital gains taxes already. Whenever they sold stock, they paid California taxes. It is all gone now.
It is estimated that $25 billion in annual tax revenue has already departed California. And it will likely get worse in future years as the last remaining super rich exit the state.
The proposed law has wording buried in it that will allow the state legislature to go after everyone, not just the billionaires. The wealth tax will be pushed down to just the regular "rich" with a few million dollars in assets.
https://x.com/WallStreetMav/status/2048606150866657355

WarshipCam @WarshipCam - Future USS Bougainville (LHA-8) America-class Flight 1 amphibious assault ship in Pascagoula, Mississippi - April 11, 2026 SRC: FB- Fred's Freighter Photos
https://x.com/WarshipCam/status/2048500163040215499

WarshipCam @WarshipCam - USS Nimitz (CVN 68) Nimitz-class aircraft carrier off of Punta Arenas, Chile - April 26, 2026 SRC: X-@cesar_quezada
https://x.com/WarshipCam/status/2048493194661278056

Washington Free Beacon @FreeBeacon - Video: California gubernatorial candidate Xavier Becerra is asked about allegations that Joe Biden’s Justice Department lost track of immigrant children, some of whom were subsequently trafficked.
Becerra, who served as secretary of health and human services under Biden, responds by blaming Trump.
https://x.com/FreeBeacon/status/2047722380059922438