Snowflake Thiel plans to leave California over a f*cking ONE PERCENT "billionaires tax." ONE F*CKING PERCENT.

[Bluetus]

47. Theil probably has most of his income sheltered anyway

He isn't going anywhere.

I bet his true effective tax rate is in the single digits.

Here is the truth about taxation in the US. Anybody making millions in annual income has ample opportunity to shelter their income. And as they get into the billions, that becomes practically tax-free, hidden in numerous corporations, many offshore.

Meanwhile, the working people pay a multitude of taxes, most of which are regressive, hitting low income people the hardest: gas tax, sales tax, social security and other payroll taxes, cell phone taxes, toll roads, etc. It is endless.