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Podcast: News For Reasonable People
Episode: $180M TAX DODGE! Uber Billionaire BOLTS CA Days Before NEWSOM'S MONEY GRAB
Description: Uber co-founder Travis Kalanick strategically relocated to Texas just weeks before California's proposed billionaire wealth tax could take effect. This move, saving him potentially $180 million, highlights a growing trend of wealthy individuals and companies leaving California for states like Texas and Florida, which offer lower taxes and a more business-friendly environment. Kalanick stated his move was timed before the January deadline for the retroactive residency requirement. This mass exodus raises concerns about California's economic future and its ability to retain high-net-worth individuals and major businesses. The proposed tax, backed by SEIU-UHW, would impose a one-time 5% tax on the net...