Snowflake Thiel plans to leave California over a f*cking ONE PERCENT "billionaires tax." ONE F*CKING PERCENT.

[Miles Archer]

A proposed ballot measure in California that would increase taxes on its wealthiest residents has Pro-Trump billionaire Peter Thiel considering cutting ties with the Golden State, and Rep. Ro Khanna (D-CA) felt compelled to weigh in on the news with a sarcastic quip.

“Peter Thiel is leaving California if we pass a 1% tax on billionaires for 5 years to pay for healthcare for the working class facing steep Medicaid cuts,” Khanna said Friday night in a social media post on X. “I echo what [former President Franklin D. Roosevelt] said with sarcasm of economic royalists when they threatened to leave, ‘I will miss them very much.’”

The ballot measure is known as the California Billionaire Tax Act, and would impose a one-time 5% tax on the net worth of residents and part-time residents worth more than $1 billion. To appear on next year’s ballot, it must receive just over 870,000 signatures, and is currently in the signature-gathering phase.

And, while it’s unclear whether the measure will receive enough signatures, some of the state’s billionaires – including Thiel – are already considering leaving the state entirely, The New York Times reported Friday.

https://www.rawstory.com/peter-thiel-2674832059/

[johnnyfins]

1. I wonder if he'd consider leaving EARTH entirely.

[IbogaProject]

35. Mars Needs Wealthies

I wish we send a bunch of them up their to not be bothered by us "poor" any more.

[Kid Berwyn]

2. Greedy n greasy NAZI

Elon Musk and Peter Thiel: The billionaires fomenting a global race war

The tech bros' strategy to protect their wealth is to direct fear and hostility towards 'the Other' - migrants, Muslims, the 'woke'

by Joe Gill
Middle East Eye, 9 January 2025

Excerpt...

In other interviews, Thiel has focused on the biblical prophecy of apocalypse that he feels could come to pass as a result of the destructive technology unleashed since Hiroshima in 1945.

Nuclear proliferation is something of a close family interest. Thiel’s father was involved in the clandestine drive of apartheid South Africa to acquire nuclear-grade uranium in Namibia.

What he doesn’t mention is that his firm’s own technology is bringing that apocalypse ever closer. Palantir, a defence tech firm, is a major investor and creator of AI technologies. For over a decade it has received major contracts from across the US government - including the Department of Defense, Department of Homeland Security, and the FBI.

As a co-founder of PayPal, early investor in Facebook and founder of Palantir, Thiel is also currently taking over the UK’s NHS data under a £480m (approximately $600m) UK government contract signed in 2023. His views of public healthcare are clear: "Highways create traffic jams, welfare creates poverty, schools make people dumb and the NHS makes people sick," he said.

Palantir technologies are deployed to both US-backed wars in Gaza and Ukraine. As Responsible Statecraft reported last year, "Palantir has tested in real time its new Artificial Intelligence Platform (AIP) on the Ukrainian war front. It has been described as ‘an intelligence and decision-making system that can analyze enemy targets and propose battle plans.’ Other Palantir security technologies include AI for predictive policing and surveillance."

Continues...

https://www.middleeasteye.net/opinion/elon-musk-and-peter-thiel-south-africa-raised-billionaires-fomenting-global-race-war

[Miles Archer]

15. Thiel is worse than Musk ever THOUGHT of being.

Musk is an attention whore. Thiel is not. As such, America doesn't know a lot about him. He's not on the general public's radar.

[valleyrogue]

49. For starters, he OWNS J.D. Vance.

Thiel is a complete fascist, "libertarian" nutjob, and dangerous to boot. He is nothing less than a sociopath, worse than Donald Trump.

[Traildogbob]

3. And from another Tax Payer funded stadium,

For the billionaire team owner.

[hunter]

4. Good riddance.

Maybe he can leave the U.S.A. too, if anyone will take him.

[Maru Kitteh]

5. Please don't come to my state you malfunctioning degenerate psycho.

That’s all I ask.

[CousinIT]

6. Hoity-toity, self-entitled little pricks.

BYEEEE!

GTFO. And take your fellow billionaire parasites with you.

[surfered]

7. Is the tax rate lower in Russia?

[Dulcinea]

8. "Fuck these people." --Hunter S. Thompson

Let him leave. No one will miss him. In fact, let him leave the country while he's at it. Didn't he plan to move to New Zealand?

[31st Street Bridge]

9. Arrest his fascist ass

And feed him to the spiders.

[Greg_In_SF]

33. On what

charge?

[ZDU]

10. G T F O

LOSER

[TBF]

11. Confiscate his passport so he can't return -

these folks are something else ...

[FBaggins]

12. That's over a billion dollars for him

Avoiding a billion dollar expense by simply picking a new place to live sounds like an easy decision.

And it’s likely much more than that since his net worth is tied up in assets that would draw large capital gains taxes federally and in California if he had to sell them to pay the tax.

[unblock]

14. The ultra-rich can easily borrow against their assets to avoid triggering capital gains

[FBaggins]

20. They'll borrow against assets to fund the purchase of other assets

and... of course... he would then pay $50M/year in interest on the loan with no earning asset to offset it. That would pretty quickly exceed the amount of the avoided income tax.

Much easier to just say "I don't live here any more" and sell his Hollywood Hills home. He has much nicer ones in Hawaii and Florida.

[unblock]

42. I'm not disputing that he might leave California, on paper anyway,

Or otherwise do whatever is needed to avoid the tax entirely.

Just disputing the capital gains point. If he decides he can live with paying the tax, or can't easily avoid it, then he'll finance it rather than selling assets at a profit.

[hunter]

23. Problem being that he can't take California with him...

... and being a non-resident would further complicate his life and reduce his political influence.

Commuting in a private jet grows wearisome.

[BidenRocks]

38. Don't forget a snow shovel.

Thiel was great on South Park!

[Vinca]

13. Will California be having a new state holiday?

[UpInArms]

16. Greedy fucking money hoarders

I hate them for their values … money trumps humanity

[LoisB]

17. Ok, bye.

[multigraincracker]

18. Somalia.

His dream heaven. Low taxes and few laws.

[Autumn]

19. Bye bye Fuck face. You should move to Russia, Putin will help you save your pennies.

[Pinback]

21. Mars has no taxes.

Move there, sicko.

[VGNonly]

22. He's an advocate of Seasteading,

a floating city without regulation, a libertarian "Love Boat".

[cstanleytech]

24. I wonder if a retroactive penalty tax would be legal should they leave for that reason.

If not then they need to go after their real estate and nail any houses or condos valued at over say one or two million dollars.

[popsdenver]

37. A lot of us here at DU

would be long gone before any tax on the rich every comes about and works it's way through all the courts. And then of course this Republican Supreme Court would find some tiny technical excuse for not allowing it to happen.
I can only imagine that it would be extremely hard for the U.S. Government to know how much money they have, because it has been offshored long long ago, invested and compounding their money without the U.S. States and U.S. Federal Government ever even knowing about it.............

The Rich even get credit cards from these secretive nations, and the rich charge every last thing they can, and many years ago our government, I think during the WBush? years, cannot subpoena an individuals credit card statements from any other countries banks.......

If things continue this way, in the near future, maybe at the most a year or two, The Uber Rich top 1% will have succeeded in a wealth transfer of all the U.S. money to themselves.........Leaving the other 99% in destitute as mere serfs and peasants.

All they have to do, is once again, trash the stock market like they have done many times in the past, dating back to Reagan's "Black Tuesday"? All of the retirement funds, and investment accounts holding people's future retirements are invested in the stock markets, etc etc etc and BOOM......An immediate repeat of the Great Depression, but far far worse this time around, and permanent.
If you want a description of the great depression, read or re-read Steinbecks GRAPES OF WRATH, and find a day by day accounting of people trying to exist, having lost everything, and what the Hoovervilles were like. And how the Corporations took full advantage of the situation that they in fact created. The Uber rich would like nothing better than to destroy all the rules and regulations that FDR put in place to pull us out of the depression and get rid of the Robber Barrons and Gilded Age. And here we sit, on the edge of what happened in the 20's...... De-ja-vue (sp?) all over again......

[Martin68]

25. Obviously his only principle in life is profit above all, no matter how small. What a small human being.

[Blaukraut]

26. The billionaires won't leave. See Massachusetts Millionaires Tax

Mass. implemented a 4% surtax on income above one million dollars. Back then there was a lot of screaming and threats from said millionaires, but the expected mass exodus of the wealthy failed to materialize. On the contrary, the number of millionaires actually grew since the law was passed, and Massachusetts got a nice little windfall in tax revenue.

https://www.bostonherald.com/2025/04/28/how-many-millionaires-live-in-massachusetts-number-grows-after-higher-income-tax-goes-into-effect/

https://www.masslive.com/politics/2025/08/millionaires-tax-cash-flooded-the-states-coffers-last-year-heres-how-that-happened.html

[kacekwl]

27. He's the type who passes

by the Salvation Army bucket without fail but has his hand out for government money. Greedy pricks.

[bucolic_frolic]

28. If we go nationwide with a 1% tax will he leave for good? /nt

[Tetrachloride]

29. It never rains in California

might be true.

[Wednesdays]

30. Well, bye.

Wonder which red state hell will end up with him.

[JustAnotherGen]

31. He's an attention whore

Can he leave the country and move to Russia?

Fucking cry baby.

[AverageOldGuy]

32. I know this is a stupid question, but:

Exactly how much money does any one need? How many houses, cars, yachts, villas in the south of France, . . . .

[Pinback]

36. A person who's empty inside

can never get enough external validation.

[travelingthrulife]

54. They are addicts. Just like any drug addict.

They should be in treatment to rehabilitate with humans, but they would never admit a problem.

[karin_sj]

34. Good riddance

These people who are rich beyond our imagination are so greedy and entitled that they can't even part with a minute fraction of their money. They could do so much good with their extreme wealth, but they choose to not only hoard it, but try to use it to gain power and hurt others who are on the other end of the financial spectrum. A total lack of decency and human empathy seems to be the common thread among these disgusting lowlifes.

[Initech]

39. Make him stay until he pays.

Fuck that piece of shit and his horrible surveillance business.

[Greg_In_SF]

40. Freedom to travel

is a fundamental right protected by The Constitution.

[Mblaze]

41. An immigrant from Germany who doesn't want to chip in for the good of Americans

But is gathering every possible detail he can grab on all of us. Why else except for control?

Theil put the Vulture into Capitalism.

[TBF]

44. And it's not just "being charitable" - he has made his money on our backs

collectively - it is because the folks before him paid their taxes, and the current workers who used their labor to help him build his riches. He was able to become a great success because of his own skills, but ALSO the society around him who (with their ancestors) not only labored, but built the country, made the roads, provided the schools, etc - they created the infrastructure and atmosphere (free market) where he was able to thrive.

THAT is the expanded answer as to why he should be paying his fair share.

[Mblaze]

55. Thanks and well said.

[lonely bird]

43. Eat the rich

They are a waste of resources.

[Dawson Leery]

45. Entitled is an understatement.

Thiel is a parasite.

[Bev54]

46. He would say it is the principle because he and most of his other oligarch companions' only

principle is money. There is nothing else to these people, nothing.

[Bluetus]

47. Theil probably has most of his income sheltered anyway

He isn't going anywhere.

I bet his true effective tax rate is in the single digits.

Here is the truth about taxation in the US. Anybody making millions in annual income has ample opportunity to shelter their income. And as they get into the billions, that becomes practically tax-free, hidden in numerous corporations, many offshore.

Meanwhile, the working people pay a multitude of taxes, most of which are regressive, hitting low income people the hardest: gas tax, sales tax, social security and other payroll taxes, cell phone taxes, toll roads, etc. It is endless.

[pecosbob]

48. Wish they would all move to their compounds in Honduras and Costa Rica to live out their little randian fantasies.

[AllaN01Bear]

50. bye bye.

[vapor2]

51. Any chance of him leaving the country period???????

[travelingthrulife]

52. Good! Now leave the country, traitor.

[duckworth969]

53. Billionaires are hoarders

Thiel is a fucking whiner.