Mastermind behind California billionaires tax makes absurd claim: Entirely fabricated
The architect behind California’s controversial billionaire tax dismissed warnings the proposal is already driving wealthy residents out of the Golden State, calling the claims “entirely fabricated” even as a growing list of billionaires have reportedly relocated or are weighing an exit ahead of the November election.Dave Regan, president of SEIU-United Healthcare Workers West (SEIU-UHW), said there is “absolutely no evidence” that wealthy Californians are fleeing because of the proposed one-time tax, pushing back against critics ranging from Gov.Gavin Newsom to business groups and Silicon Valley executives.“There is absolutely no evidence that billionaires leave,” Regan told KCRA’s Ashley Zavala Sunday as the bill made it onto the November ballot.“Billionaires are the wealthiest people on the planet.
They can live wherever they want in the world, let alone in the country.”The labor leader argued that similar predictions failed to materialize elsewhere.“All of the evidence, all of the research, all of the data that we have is that the very wealthy make this argument every single time,” Regan said, pointing to Massachusetts’ millionaire tax.“Everybody said they were going to go to New Hampshire, and they were going to go to other states.It’s just not true.“The governor can say it as many times as he wants, but the facts are not on his side,” he added.
His comments come months after reports that at least six California billionaires had already severed their residency before Jan.1 — the cutoff date written into the ballot measure to avoid the proposed tax.Among those who have reportedly left or significantly shifted their residency are Google co-founder Larry Page, who has established a presence in Florida after purchasing more than $170 million worth of Miami-area real estate; Palantir co-founder Peter Thiel, who has deepened his Florida ties and already votes there; and venture capitalist David Sacks, who relocated from San Fran...