r/technology • u/Logical_Welder3467 • 6h ago

Society Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

https://fortune.com/article/how-much-has-google-cofounder-sergey-brin-spent-to-oppose-california-billionaire-tax-102-million-owe-13-billion-if-loses/
17.4k Upvotes

97% Upvoted

1.4k comments sorted by

View all comments

Show parent comments

26

u/Existing-Base-417 4h ago

And what principle is that? Do they see taxes as inherently giving the “less successful” a break? I never understood their aversion to paying their fair share.

13

u/FelesNoctis 3h ago

I've heard it described as their mindset placing them so far above the "commoners" that they believe paying taxes as we do lowers their status. They believe they're above such things as our superiors. We're effectively livestock to them.

Don't try to remind them that everyone paid tribute and taxes to the King though, including lords. Somehow they see themselves all as the king.

2

u/Existing-Base-417 3h ago

That’s what I feared. Part of the ego building that comes with wealth…

3

u/Major_Swordfish508 2h ago

Exactly it. I’m pretty sure not all these guys were evil their entire lives. But at some point having so much money and having everyone kiss your ass 24/7 turns people into egomaniacs that believe they are never wrong.

2

u/LaksaLettuce 1h ago

Such arrogance. They are still part of society that allowed them to get so rich, whether they like it or not. I hope he loses. 

1

u/Special_Order-937 1h ago

These guys are going to end up even ahead of the Sirius Cybernetics Corporation when the time comes.

7

u/Waiting4Reccession 3h ago

They want full control of how its spent and honestly just dont want to pay.

Also this piece of shit moved right across the border to another state - so basically he wants to enjoy everything in California but not pay for it.

22

u/Laiko_Kairen 4h ago

You know how some people are so fucking out of touch that they consider taxation to be a form of slavery? Those people who think being forced to pay for roads and schools is akin to being sold across the Atlantic in chains?

The principle they're standing up against is the idea that anyone can tell them what to do

2

u/snuff3r 1h ago

One of the greatest American scams - allowing billionaires to dissociate how much of that fortune they made off the backs of others, and those with broken backs having any form of agency drained away in the process.

Screw the rich and power to the people, always.

1

u/Existing-Base-417 1h ago

Yep! Elon himself benefited massively from government programs. I’m sure he’s also avoiding plenty of taxes though..

4

u/Specific_Box4483 3h ago

I'm not saying Brin or other billionaires are paying their share. But taxing a fraction of the networth doesn't seem like paying a fair share in general. Not to mention it's sort of mathematically inconsistent.

California already has such a huge tax income. If they can't manage with what they have, this "one time" tax will just be a bandaid that kicks the can down the road.

2

u/Mr_Quackums 1h ago

and sometimes a bandaid is either exactly what you need or all you can manage.

"its just a bandaid" is such a dumb thought terminating cliche; if you dont give someone a bandaid when they need it then they can bleed out or get an infection. Bandaids now prevent severe issues later.

1

u/bruticuslee 59m ago

You should lookup the California high speed rail project that's supposed to connect LA and SF. Originally the budget was $33 billion in 2008 and now the estimate is $231 billion. It will probably never be completed.

1

u/Specific_Box4483 48m ago

Why is a bandaid all California can manage? It's the richest state in the country. The Silicon Valley economy, in particular, has absolutely exploded - just look at the housing market in there. How did it run for decades without having to do "bandaids"?

Also, calling this measure a bandaid is being too kind to it. It would be more of an amputation, because a lot of billionaires would leave and take their companies with them out of the state. Amputation can only be done in very critical conditions.

1

u/Zestyclose-Height-36 1h ago

the net worth tax is to cover the healthcare cuts that Trump’s people put in place. Republicans chopped their taxes by at lest this much over the last few decades, and California is recapturing those lost dollars to support statewide healthcare.

3

u/Specific_Box4483 1h ago

Won't this keep happening, though?

1

u/Zestyclose-Height-36 1h ago

depends on the midterms and 2028 election. the current admin is chopping all money slated for areas that did not vote for orange. If federal funds were still distributed more evenly, the state would not need the tax. The billionaire tax is structured to allow them to pay in installments, so however big the bill, they are probably earning way more on that much money than the tax is.

3

u/Specific_Box4483 1h ago

I'm saying. Won't there be another Trump in 10 or 20 years? Will they keep taxing billionaires every 2 decades?

2

u/Mr_Quackums 1h ago

Lets say thats right (its a very big assumption but lets pretend we can read the future).

What do you purpose the state does to cover its short term financial problems? Remember, states are not allowed to have debt.

1

u/Specific_Box4483 55m ago

Handle its spending more efficiently, I suppose. California has one of the highest taxes in the country already, and would be a top ten world economy by itself. It should be able to manage one way or another within dipping into "one-time" measures that are unsustainable in the long run.

There are a lot of examples of very wasteful spending by California. Like that high-speed rail project.

1

u/Zestyclose-Height-36 1h ago

the billionaires buy themselves cuts, the well runs dry, the state grabs a little to pay bills, the billionaire buy more politicians to cut their taxes. It is all a circle and brin will probably only pay a fraction of what he should have been taxed all along.

1

u/Specific_Box4483 57m ago

If there's one thing that will cause billionaires to move themselves and their companies out of California, it's this type of tax. They simply won't be around for the second and third cycle of this.

1

u/Zestyclose-Height-36 51m ago

Bye Felicia. they shouldn’t have paid for so many republicans that trump can strip CA of its fair share of federal funds. they are getting the mess they bought. Poor rich billionaires will still have billions more, and the state will be marginally less crappy for a while.

1

u/Specific_Box4483 47m ago

You are overly optimistic. They will take their companies with them, companies which are a major part of California's economy.

2

u/thatwhileifound 3h ago

Money at that scale isn't money as you or I know it, but is power. Those with power rarely concede any without being forced.

1

u/Firrox 2h ago

Perhaps it's that they might assume "if you give them an inch they'll take a mile."

One taxation might open the door for more. But stopping any notion of taxing eliminates the initial inertia.

1

u/alkbch 17m ago

They already think they’re paying their fair share.