Capitalism is fine.
Unchecked wealth that controls the government, doesn’t pay taxes, and bribes public officials to pick winners and losers is not.
Anyone who thinks that the US is a shining example of “capitalism” is a fucking imbecile.
When was this? This is absolutely not the norm today. On the east coast We typically start at 1.2 to 1.5x the appraised value, and go up significantly more based on how much legal fight and public outrage is created.
I’ve been involved twice in my career (for around 140 properties total), with the backing of the Federal government, the FHWA in both cases in my experience, the land is the property of the state as soon as the papers are filled (referred to as ‘quicktake’, not something a state government can do without federal authority), but the legal proceedings for the total compensation can go on for 10+ years if you have the money to fight it. Total comp is often 5-20x what the property is worth plus all of the legal fees.
The only way I can possibly think of your grand parents farm being taken without them being more than well compensated, is if it happened under Eisenhower.
Again, that’s not how this works.
California can’t just seize corporate assets owned by multiple interested parties in order extract funds from one individual.
That’s the whole issue with this toothless law, California can’t enforce it. Even if they’re able to seize a couple residences, the property in them, some vehicles, etc. There will be decades long court battles over those assets, and they still won’t add up to the hundreds of millions of dollars that a multi-billionaire would be responsible for under this tax.
That is definitely not the point of eminent domain laws, and it certainly is not that easy.
Even if California won an eminent domain case like that (which would be extremely unlikely), they’d still have to pay through the nose for the property they took.
“Oh well the State has plans for this property, so take a hike. Eminent domain, bitches.”
You have no business being in this conversation if that’s your understanding of ED cases in the US, let alone in California.
Truly one of the most uniformed takes I’ve ever heard.
But CA wouldn’t have grounds to seize land from a corporation, nor could they garnish corporate profits (particularly ones that are most likely based in Delaware), in order to extract funds from one person. The corporations of billionaires are still owned by shareholders, and again, you are getting into Federal Interstate Commerce laws.
Hell even the personal residences are probably not ‘owned’ by the Billionaire.
Billionaires don’t become billionaires without access to US financial institutions.
Let alone the amount of assets and intellectual property that the US can seize and nationalize when someone does try to flee.
It may not seem like it under Trump, but the US is still a global superpower. If the US actually decided to hurt those who flee to tax havens, it would change the world, every other country to tried to implement a wealth tax and failed could now do so. Billionaires who fled could be locked out of the western world.
It sends a clear message: If you won’t pay your share, we don’t want you here.
Once everyone collectively agrees that billionaires should pay their share, there will be nowhere left for them to run. It has to start somewhere.
Republican states will never do that. They Iove billionaire boots. For many of them, being a tax haven is the only thing of benefit they can provide.
Unless we overhaul the Interstate commerce act (an article I power… So unlikely) to limit their ability to do business or ship product to/from/through Blue states, we will lose in Federal Courts every single time.
I’m not claiming it will. I’m claiming that California has no means to enforce it.
or raise the same objection just saying it will drive businesses overseas and hold out for a global wealth tax.
That one is much easier to give teeth to though. Any individual or corporation who flees to an international tax haven will be barred from entering the US, doing business in the US, or participating in US markets.
Any assets in the US will be seized, any US protected intellectual property will be made public domain, etc.
How will California enforce theirs?
A state tax like this has absolutely no teeth. It’s ridiculous to think that any Billionaire would stick around and donate 5% of their net worth to California.
Unless California also includes a provision that any Billionaire who’s found to have fled this tax will be arrested and charged with something that carries a significant mandatory minimum prison sentence, this law will just be theater.
Newsom’s a tool, but it’s very obvious why this is the line he’s walking. And it’s not to pull one over on his constituents.
He’s pushing for a Federal tax over a state one is because a state one will just push billionaires to other states. Billionaires are certainly not stopped by a state line, a law without teeth is just theater.
We absolutely need a federal wealth tax, along with consequences for individuals and corporations that flee to international tax havens.
Spez has ruined reddit 3 times, this won’t improve it.
Something like that before midterms would be just what the GOP wants to exercise more control and cancel elections.
If it happens now, we’ll all be highly suspicious of an inside job.
Oh shit? They’re trying the ICE agents who killed American Citizens now?
Or have they reversed the 100 year terrorist sentences for the people exercising their right to assemble?
Maybe you mean that Due Process is required for all individuals again?
I can’t wait to search through the newly released Epstein files.
… It’s not about the hundreds of little cases they’ve been able to stop… It’s about the 20ish massive things they haven’t.
Which is the point of their marches, they want a very public presence so like minded people will seek them out and join.
These chodes might not be threatening marching through a major city in daylight, but as the country deteriorates, if 50 or 100 of them show up at your house at night… What’s your plan?
This is just public facing side of the new Klan.
Nah, best he can do is a subscription based virtual machine with as much RAM as you need*
*premium subscription required for >12gb, metered pricing for >20gb usage
I’ve ordered products from some of the brands specifically mentioned, and the quality to price is often great.
Would I buy anything with a battery or an internet connection from them? Probably not. But are many things fine, and likely produced in the same sweat shops as household name brands.
It seems like a stretch to automatically hide every temu-esk brand… The brands themselves don’t even attempt to hide what they are.
What a fucking idiotic take.
The right are actively trying to suppress voting and remove constitutional rights. They’re supporting a pedophile, supporting abhorrent spending, supporting war crimes (in the Caribbean, Venezuela, and the Middle East), abandoning our allies, and embracing the rich and the corruption that enables them. They’re attacking women, healthcare, education, and the scientific method.
These policies don’t take root without the support Republican Voters. Their stupidity does not absolve their responsibility.
Is there some class warfare going on? Sure. Should you still be differentiating between the Right and Left… Abso-fucking-lotely.
By all means, call out the those on the left who are choosing billionaires over voters or are supporting policies that harm the general public, but they are by far the secondary priority.
Fifield, who spent 7 years working for the Heritage Foundation and made all of these accusations a few months ago without any evidence, is the reason why people are so hesitant to take the more recent one seriously.
If the Heritage Foundation is doing anything to take you down, you’re probably doing something right.
Lol, no they won’t. Some will claim to be unhappy with Trump, then will go to the polls and vote straight R.
Donald Trump wasn’t kidding when he said he could kill a man in the middle of 5th Avenue and not face any consequences.
He’s a well documented pedo, and may have even been involved in the murder of an infant he conceived on a child, and Republicans are still bending over backwards to make sure he’s free to trample on the US Constitution.