General Discussion

haele

(15,051 posts)

33. Spiro is a F'ing con man.

Tue Dec 30, 2025, 12:12 PM

Yesterday

His job as he sees it is to maximize wealth for his clients so he can scrape more fees off the top.
Most of his clients wouldn't see any difference between a 1% wealth tax and the fees he would have charged them to "invest" that 1%.
Not only that, they won't realize any benefit from that 1% he moved around as an investment for them -

" Oh, sorry - market correction, you lost $2m last quarter, but you're going to make it back up and then some if I move you over to this fund - another $100k, please..."

With that $1M a year per $1B tax -er - investment in California, they can invest that money in things that make the state a better place to live and do business in.

Instead of just further lining the pockets of already wealthy money managers.

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Highlight:

Gavin Newsom warned that billionaires will 'permanently relocate' if California wealth tax passes [View all] CoopersDad Yesterday OP

Don't let the door slap you on the ass on your way out, parasites. Ocelot II Yesterday #1

You beat me to it SheltieLover Yesterday #27

Parasites is EXACTLY what they are. USS_Dauntless 37 min ago #87

I guess that will open housing for people who pay taxes. NT Gore1FL Yesterday #2

Newsom's response should be: CousinIT Yesterday #3

Newsom dweller Yesterday #8

Ugh karin_sj Yesterday #23

Ugh. CousinIT Yesterday #26

Better get the nose clips ready. BannonsLiver Yesterday #30

Most of those people Boo1 19 hrs ago #50

They would have to move in the next day to avoid the retroactive tax? newdeal2 Yesterday #4

The BILLIONAIRE Class have become the WHINER class. ProudMNDemocrat Yesterday #5

It is called greed Stargazer99 Yesterday #6

They are as addicted to money as any heroin addict is addicted to heroin. travelingthrulife 3 hrs ago #76

I think they should whine louder and more publicly EYESORE 9001 Yesterday #20

They always have been Johonny Yesterday #22

Is it 1 or 5%? Either way, they can afford it, just curious which is correct? Jmb 4 Harris-Walz 9 hrs ago #71

Make it a National Law, save SS Law. multigraincracker Yesterday #7

Yes! SheltieLover Yesterday #28

"So, what's the bad news?" nt Buns_of_Fire Yesterday #9

Good Riddance! NT Daigan Yesterday #10

I honestly think a majority would gladly have the Kardashians (and of course, Musk) depart California... hlthe2b Yesterday #11

Contribute to the common good or goodbye. C_U_L8R Yesterday #12

Money hoarders UpInArms Yesterday #13

"Sometimes the coppice needs to be cleared lest it becomes a hedgerow." Hugin Yesterday #14

Hey MAGA, it's not the immigrants who are ruining America! It's the billionaires! Initech Yesterday #15

Bye.. .... Lovie777 Yesterday #16

The state of California's economists have projected that this tax would result in a net loss of revenue Jose Garcia Yesterday #17

Link? nt drmeow Yesterday #32

New York Times: Jose Garcia Yesterday #34

I keep hearing that they don't pay any taxes anyway MichMan Yesterday #43

These entitled assholes... GiqueCee 18 hrs ago #58

Typically a billionaire will be shielded from direct income tax PCB66 3 hrs ago #74

Feels like a poison pill measure designed to get GOP Johonny Yesterday #18

It could probably get renewed every 5 years MichMan Yesterday #38

They are his peeps though Blue Full Moon Yesterday #19

Good riddance, assholes! karin_sj Yesterday #21

California will be better without them. spanone Yesterday #24

Are you sure about that? pcdb 23 hrs ago #48

They don't pay DiverDave 18 hrs ago #61

They won't leave. intheflow Yesterday #25

As long as they take Zuckerberg with them Retrograde Yesterday #29

Wealth Taxes should be at the Federal level not State level walkingman Yesterday #31

Totally agree with you, however, our inept president would never allow it. Jmb 4 Harris-Walz 9 hrs ago #73

I believe there would need to be a constitutional amendment MichMan 2 hrs ago #81

As far as a "direct tax" but couldn't you raise the tax rate based on income? walkingman 7 min ago #88

Spiro is a F'ing con man. haele Yesterday #33

Spiro is a scumbag Hassin Bin Sober Yesterday #46

Silly billionaires. hunter Yesterday #35

California will be better off when these leeches leave. bluestarone Yesterday #36

Not a good idea jonstl08 Yesterday #37

Of course they will? OC375 Yesterday #39

50 million dollars one time kwolf68 Yesterday #40

So California will lose the tax money of people who don't pay taxes? LostOne4Ever Yesterday #41

Massachusetts was warned that the wealthy would flee if a wealth tax was instituted. TheRickles Yesterday #42

How will the government determine how much they owe? MichMan Yesterday #44

The low cost of living has never been a reason to live in California. Buddyzbuddy Yesterday #45

I hope they don't come to my state. BoomaofBandM 23 hrs ago #47

Can they please move out of the US altogether? Luciferous 20 hrs ago #49

Well, that's a good thing, isn't it? Scrivener7 19 hrs ago #51

Where they gonna move? Alabammie, for the lifestyle, right? bucolic_frolic 19 hrs ago #52

Lol like how all the billionaires said theyll leave MA after their progreesive tax was passed? SSJVegeta 19 hrs ago #53

Why are they in CA to begin with? Because they like it there. Maybe it's the weather. Intractable 19 hrs ago #54

If they're willing to brave the threats of fire, earthquakes, floods, coastal erosion, etc., they'll leave over a Jmb 4 Harris-Walz 9 hrs ago #72

Billionaires will not ignore an entire economy as large as California. unblock 19 hrs ago #55

Doesn't mean they have to live there to have investments MichMan 15 hrs ago #66

Who cares if they leave? Their money is their only leverage. unblock 14 hrs ago #69

There Goes John Galt lame54 19 hrs ago #56

NYC Billionaires said the same thing if Zoltan Mamdani were to be elected Mayor. no_hypocrisy 19 hrs ago #57

You just nailed it. CoopersDad 16 hrs ago #65

Is that a threat or a promise...? regnaD kciN 18 hrs ago #59

What a terrible headline -- someone trying to take down Newsom? W_HAMILTON 18 hrs ago #60

I'll still vote YES... just for s&g WarGamer 17 hrs ago #62

Tax evasion is illegal. Patton French 16 hrs ago #63

It's "Tax Avoidance" not Evasion DUU 43 min ago #86

This is just Billionaires leveraging their enormous privilege thought crime 16 hrs ago #64

if every state did this, then where would they move? Takket 15 hrs ago #67

"Right after I got here, i ordered some spaghetti with marinara and got egg noodles with ketchup" maxrandb 15 hrs ago #68

This message was self-deleted by its author Celerity 10 hrs ago #70

Good riddance. travelingthrulife 3 hrs ago #75

No doubt, they would all love moving to Texas... dlk 3 hrs ago #77

Wait till he's President. Kid Berwyn 3 hrs ago #78

you know what ought to be done to explain the tax is Dyedinthewoolliberal 3 hrs ago #79

If we do not tax billionaires we will not have a democracy delisen 2 hrs ago #80

So, they will declare Bettie 1 hr ago #82

The younger generation are noticing! MenloParque 1 hr ago #83

IANAEM. I am not an English Major, but "Gavin Newsom warned" has two opposite meanings. usonian 1 hr ago #84

The "wealth tax" seems like one of these demagogic gimmicks gulliver 1 hr ago #85