Based on Forbes estimates, Ellison could owe roughly $9.6 billion under the Wealth Tax, while Page’s bill could reach $7.2 billion.
Wealth Tax Supporters Dismiss ‘Flight’
Backers of the Wealth Tax argue that fears of mass billionaire exodus are overstated.
“Really, this ‘Chicken Little’ argument that people are going to flee because of attacks — when we look at real-world examples and experiences across the country — none of that ever pans out,” said Suzanne Jimenez, Chief of Staff for SEIU–United Healthcare Workers West, in comments to Fox News.
Others strongly disagree. California chef and restaurateur countered on Fox News @ Night:
“People are awake now… Nobody wants to spend this money on taxes anymore, because it’s just a complete waste of money. So they will leave — and they are leaving.”
Jensen Huang Stays Put as Others Weigh Options
Not all California Billionaires are preparing exits. Nvidia CEO Jensen Huang told Bloomberg that he has no intention of leaving Silicon Valley over taxes.
