BILLIONAIRE HEIST: You’re next
The Daily Dumpster Staff
While you were popping corks, the “PayPal Mafia” was popping residency papers. At 12:01 AM, California’s “2026 Billionaire Tax Act” officially triggered. It’s a 5% “wealth seizure” on anyone worth over a billion. Larry Page and Peter Thiel didn’t wait for the bill; they’ve been scrubbing their California trail for months to make sure they weren’t “tagged” as residents today.
The “Heist” Logic: Don’t let the “tax the rich” slogans fool you. As the All-In guys pointed out, there aren’t enough billionaires to even pay the interest on the state’s debt.
The Bait: Use 199 billionaires as the “boogeyman” to pass the law.
The Switch: Once the infrastructure for Private Property Seizure is in place, they’ll lower the threshold to the “Millionaire” level, then the “Middle Class” level.
The Math: Billionaires only hold a fraction of the pie; the real money—over $170 trillion—is sitting in the 401k’s and home equity of the middle class.
The Litigation Game: Here is the real kicker: Billionaires have armies of lawyers. They will spend the next ten years in Tax Court haggling over the “subjective value” of a rare painting or an unlisted stock.
The Billionaire: Haggles over a value of a $50M Rembrandt in a private tax court
YOU: Haggles over a $500 dent in a 2015 Acura with a state auditor
[OUR TAKE]
First They Came for the Jet-Setters...
This is the ultimate ‘Hey Martha’ moment for the rest of us. They tell you they’re ‘soaking the rich,’ but the rich have already left the pool. Page and Thiel aren’t running because they’re ‘greedy’; they’re running because they know this is a Trojan Horse.
When the state realizes that 199 billionaires don’t pay the bills, they aren’t going to cancel the programs—they’re going to come for the only thing left: Your House. It’s the 404 Error of common sense: The billionaires get the tax court, and you get the tax lien. Happy 2026—don’t get too attached to that Acura or your house.
Source: All-In Podcast, Ep 213