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FBaggins

(28,615 posts)

20. They'll borrow against assets to fund the purchase of other assets

Sat Dec 27, 2025, 11:20 AM

5 hrs ago

and... of course... he would then pay $50M/year in interest on the loan with no earning asset to offset it. That would pretty quickly exceed the amount of the avoided income tax.

Much easier to just say "I don't live here any more" and sell his Hollywood Hills home. He has much nicer ones in Hawaii and Florida.

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Highlight:

Snowflake Thiel plans to leave California over a f*cking ONE PERCENT "billionaires tax." ONE F*CKING PERCENT. [View all] Miles Archer 6 hrs ago OP

I wonder if he'd consider leaving EARTH entirely. johnnyfins 6 hrs ago #1

Mars Needs Wealthies IbogaProject 4 hrs ago #35

Greedy n greasy NAZI Kid Berwyn 6 hrs ago #2

Thiel is worse than Musk ever THOUGHT of being. Miles Archer 6 hrs ago #15

For starters, he OWNS J.D. Vance. valleyrogue 3 hrs ago #49

Guy wants to eliminate the risk democracy presents to his money. Kid Berwyn 27 min ago #66

Guy wants to eliminate the risk democracy presents to his money. Kid Berwyn 27 min ago #67

And from another Tax Payer funded stadium, Traildogbob 6 hrs ago #3

Good riddance. hunter 6 hrs ago #4

Please don't come to my state you malfunctioning degenerate psycho. Maru Kitteh 6 hrs ago #5

Hoity-toity, self-entitled little pricks. CousinIT 6 hrs ago #6

Is the tax rate lower in Russia? surfered 6 hrs ago #7

"Fuck these people." --Hunter S. Thompson Dulcinea 6 hrs ago #8

Arrest his fascist ass 31st Street Bridge 6 hrs ago #9

On what Greg_In_SF 5 hrs ago #33

G T F O ZDU 6 hrs ago #10

Confiscate his passport so he can't return - TBF 6 hrs ago #11

You need a passport to travel to California? MichMan 1 hr ago #65

That's over a billion dollars for him FBaggins 6 hrs ago #12

The ultra-rich can easily borrow against their assets to avoid triggering capital gains unblock 6 hrs ago #14

They'll borrow against assets to fund the purchase of other assets FBaggins 5 hrs ago #20

I'm not disputing that he might leave California, on paper anyway, unblock 4 hrs ago #42

Problem being that he can't take California with him... hunter 5 hrs ago #23

Don't forget a snow shovel. BidenRocks 4 hrs ago #38

Oh no!! MorbidButterflyTat 1 hr ago #57

Will California be having a new state holiday? Vinca 6 hrs ago #13

Greedy fucking money hoarders UpInArms 6 hrs ago #16

Ok, bye. LoisB 6 hrs ago #17

Somalia. multigraincracker 6 hrs ago #18

Bye bye Fuck face. You should move to Russia, Putin will help you save your pennies. Autumn 6 hrs ago #19

Mars has no taxes. Pinback 5 hrs ago #21

He's an advocate of Seasteading, VGNonly 5 hrs ago #22

I wonder if a retroactive penalty tax would be legal should they leave for that reason. cstanleytech 5 hrs ago #24

A lot of us here at DU popsdenver 4 hrs ago #37

"And here we sit..." OldBaldy1701E 1 hr ago #62

Obviously his only principle in life is profit above all, no matter how small. What a small human being. Martin68 5 hrs ago #25

The billionaires won't leave. See Massachusetts Millionaires Tax Blaukraut 5 hrs ago #26

He's the type who passes kacekwl 5 hrs ago #27

If we go nationwide with a 1% tax will he leave for good? /nt bucolic_frolic 5 hrs ago #28

It never rains in California Tetrachloride 5 hrs ago #29

Well, bye. Wednesdays 5 hrs ago #30

He's an attention whore JustAnotherGen 5 hrs ago #31

I know this is a stupid question, but: AverageOldGuy 5 hrs ago #32

A person who's empty inside Pinback 4 hrs ago #36

Exactly. MorbidButterflyTat 1 hr ago #59

They are addicts. Just like any drug addict. travelingthrulife 2 hrs ago #54

Good riddance karin_sj 5 hrs ago #34

Make him stay until he pays. Initech 4 hrs ago #39

Freedom to travel Greg_In_SF 4 hrs ago #40

Oh, okay! MorbidButterflyTat 1 hr ago #60

So, are you saying Greg_In_SF 1 hr ago #64

An immigrant from Germany who doesn't want to chip in for the good of Americans Mblaze 4 hrs ago #41

And it's not just "being charitable" - he has made his money on our backs TBF 4 hrs ago #44

Thanks and well said. Mblaze 2 hrs ago #55

Eat the rich lonely bird 4 hrs ago #43

Entitled is an understatement. Dawson Leery 3 hrs ago #45

He would say it is the principle because he and most of his other oligarch companions' only Bev54 3 hrs ago #46

Theil probably has most of his income sheltered anyway Bluetus 3 hrs ago #47

Wish they would all move to their compounds in Honduras and Costa Rica to live out their little randian fantasies. pecosbob 3 hrs ago #48

bye bye. AllaN01Bear 2 hrs ago #50

Any chance of him leaving the country period??????? vapor2 2 hrs ago #51

Good! Now leave the country, traitor. travelingthrulife 2 hrs ago #52

Billionaires are hoarders duckworth969 2 hrs ago #53

Lucky California! nt Cha 1 hr ago #56

It's not 1%, it's 5%. 1% a year for each of the next 5 years. n/t Ms. Toad 1 hr ago #58

I'm appalled that my state wants a 1% increase in taxes for those with wealth over 1 billion dollars. Buddyzbuddy 1 hr ago #61

Bye Felicia SirReal69 1 hr ago #63