TAXING THE AIR: CALIFORNIA BILLIONAIRE WARNS OF HOME SEIZURES

The Daily Dumpster Staff

Tech billionaire Palmer Luckey issued a stark warning today regarding California’s proposed “Wealth Tax,” which would slap a 5% levy on residents worth over $1 billion. Luckey claims the state is so desperate for cash they will eventually resort to home seizures and wage garnishment for entrepreneurs who can’t liquidate their companies fast enough to pay the bill.

[HOCO’S TAKE]

The Golden State Shakedown

California is like that one friend who wins the lottery and is still broke two weeks later. They’ve taxed the gas, the grass, and now they want a piece of your house before you even sell it. When the guys who build the technology are warning you that the government is coming for your front porch, it might be time to pack the U-Haul. I asked Subscriber Ed what he’d do if they taxed his wealth, and he said he’d have to start charging the government rent for the space he takes up at the bar.