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A comment on Larry Page leaves California to protect $12.5B from proposed wealth tax. Parent comment

Re:Larry Page leaves California to protect $12.5B from propo... by Guvante on Friday January 09, 2026 @09:00PM (#46561995)
Why? We consistently use progressive tax policies worldwide.
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Re:Larry Page leaves California to protect $12.5B from propo... by adastra22 on Friday January 09, 2026 @09:10PM (#46562065)
Wealth taxes are extremely uncommon worldwide.
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Re:Larry Page leaves California to protect $12.5B from propo... by Guvante on Friday January 09, 2026 @09:19PM (#46562114)
Billionaires have been too and the tax code is one the slowest things to adapt.

In tax code sense I am not even sure the effects of buy, borrow, and die have even been settled.

EDIT: can't respond but "pay no taxes but at least your kids do" isn't exactly a fix

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Re:Larry Page leaves California to protect $12.5B from propo... by adastra22 on Friday January 09, 2026 @09:32PM (#46562177)
That is a hole we could fix tomorrow by eliminating the step up on death. No need to introduce a new global financial surveillance regime for tracking asset ownership for wealth tax purposes just to fix that.
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