Can the Great Wall of China Stop Billionaires Leaving California?

49 thoughts on “Can the Great Wall of China Stop Billionaires Leaving California?”

1. Head to https://betterhelp.com/spencercornelia for 10% off your first month of therapy with our sponsor, BetterHelp. Make your mental health and growth a positive focus this year.

2. Explain to me how you as the founder are a billionaire on paper but aren't profitable and ill tell you how to fix the tax problem

3. one mroe goofie video and im unfollowing

4. One percent of a billion dollars is 10 million dollars so that tax on someone worth 2 billion would be 20 million on top of the other taxes they have to pay. I can see why they would leave. They could invest that 20 mil into their businesses.

5. Hi Spencer. In wondering if you're going to do a follow up video on your MN fraud "news" now that the studies from government have been released.
   https://mn.gov/dhs/media/news/#/detail/appId/1/id/720779

6. The masion tax is insane, people who have lived in cali since the 70s and their home recently just touched 2 mill r getting financially ruined

7. Ok cool, but what about the time u said Mikki was legit , or Nuar trades was legit or what about the time you literally funneled your audience into a lord scam?

8. First they came for the billionaires and I didn't speak out because I was not a billionaire. Then They came for 100 millionaires but i didn't speak out. Then 10s of millionaires… Then they cam for me.

9. Great Wall of California can never be built, as it would be defeated by the most annoying of all litigates the Sovereign Citizen. When they would argue about about a right to travel. Because that is the correct argument, because a right of interstate travel is part of the Constitution.

10. What Ackman says is a very common practice but the person has to still payoff the loans or lose his collateral which is much more than the loans usually.

11. Even if I wasn't a billionaire do you really think I give a flying fuk about other people's health insurance I don't care about other people's health insurance and I don't care about you

12. There is one thing history teaches us. Time and time and time and time and time again, the tools you give/allow/demand/cheer on those in power to be used against those you don't like, are ALWAYS, without exception, eventually used against you. And then you'll bleat something about fairness or rights or some other nonsense.

13. Why should any rich people live in California?they can live anywhere in the world and operate business in usa or other places.

14. The billionaires were complaining about not paying enough Taxes. And now they are leaving because they might pay.

15. Well, California would budget for a great wall of California, and let's assume the budget comes in at $10 billion dollars. The California government, the Democrats, would start spending money, and for about a good 5 or 10 years they would be spending money to the point of more than $10 billion dollars but then you would notice there is no wall… And that's the problem with California: the Democrats are ripping the place off! But the Democrats are also ripping off everywhere in America!

16. property tax is a tax on unrealized gains…. just sayin

17. How long has California had these so-called billionaires?

    California had an economy before billionaires were born, so right sizing or correcting the economy is overdue.

    There is a reason billionaires come to California, so if you do not want to do your part, GTFO.

    Other than your property, your expenses do not have to be extravagant even if you eat wagyu, and exotic eggs every day

    The billionaires (let me repeat: billionaires) are hogging their money to hog it and nothing more

    As for the paper billionaires, please leave, go and fake it somewhere else.

    "Brianne Kimmell … startups … ventures" all a bunch of bs that makes life more expensive for the people who are not "Brianne Kimmell … startups … ventures". Go and ask the people in Silicon Valley who could not afford to live there after the businesses arrived

    An affordable California will be nice.

18. Running state is not complicated if you are not a socialist

19. Great video

20. Therapy is gay and/or makes you gay. Stop pushing therapy on men.

21. It's not just this specific tax. It's the entire environment. They had an LA Mansion tax. They hate the rich there and will continue to invent new ways to steal their money

22. You missed the point. This tax isn’t about revenue. It’s about envy.

23. 2:37 “after tax property” 😂😂 billionaires barely pay taxes

24. This dude gives me the vibes of one of those closeted gay republicans

25. Government especially democrats don’t know how to manage money.

26. Views ain’t coming like they used to huh Spence? Tough break while your peers skyrocket. SAD!

27. Rich people don't like tax for rich people. More news at 7.

28. Let me just ask this. If You didn't pass the Bill, what will they have done with the money while in california? What have they done with the money that has helped California up until this point? Im talking about the billionaires

29. is their goal to tax them or make them leave because…?

30. 1) There's no such thing as a "temporary tax". We were told the federal income tax was "temporary" How did that work out? 🚫
    2) Be it housing or education or healthcare…California puts most of that money to the service of ILLEGAL ALIENS…and H1B types.
    You want to give California more tax money for that?! 🚫

31. Bye!!!! Please leave!

32. Thank you so much for the detailed explanation on this site. Didn’t know any of that part. It’s the dumbest thing ever. I’ve had many businesses that I wanted to get into certain areas and it never made sense to me. How you could pay someone like the Port Authority for instance or the military and get charged on revenue. It’s just the dumbest thing in the world. You could have revenue of $1 million and still have zero profit obviously you could have expenses and stuff that you know could be on the edge, but let’s just say everything is straight you could still have expenses that you couldn’t pay for just because wages and everything else to run the business cost that much.

33. Massachusetts asked for an audit by voting for it and Our governor said "nah im good" and just didnt do it. We believe she is committing fraud but she is doing an outstanding job with the optics and people arent exactly looking for this stuff so she just kind of coasts

34. Focus on fraud and misspending before doing this shit.

35. It sound always like a good idea to give politicians – who proved that they miss handle any money they get – more money to miss handle. And hiding that by turning the blame on the rich. "We could have healthcare if they would give us their money"…..the US could have healthcare if they wanted a long time agon

36. you might wanna check on the wall of china's history… some would say its meant to keep out cryptids…

37. [1:30] The middle class always foot the bill. The rich are as rich as they are because they exploit the system to avoid paying as much tax as they otherwise would do. I would be very interested to see if they could produce documentation showing how much tax they collected from each billionaire in the last 5 years and how that money was efficiently footed to the bill.

    I'm not anti-billionaire, it's just outside of Mr. and Mrs. Dell donating a mammoth amount to a charitable endeavour recently, you rarely hear of the good these billionaires are doing, they only ever come up when the topic of conversation is how billionaires avoid paying taxes and when their companies are doing another round of layoffs because unfortunately they missed target and are down year-over-year, only taking in 7 bajillion dollars in pure profit instead of the projected 8 bajillion, which means you gotta cut the fat, and it's easier to fire 500 of the lowest paid employees than it is to fire Steve from 2 doors down who makes twice as much as all 500 put together.

38. Every time someone leaves CA it's one less car on the freeway and 1 less surfer in the water. Enjoy Tennessee, ya'll.

39. Since most of these people vote for Democrats, I hope this passes.

40. As a German wtf is going on in us!?, what happen to this stable and fair jurisdiction?

41. They arent deciding to leave California.. it doesnt have. A "serious wealth problem". im gonna Unsubscribe from this cringey channel spreading misinformation for more views.

42. personally a more progressive Capital Gains Tax is needed but @SpencerCornelia you can also put that a 1-2% Tax on Stock back Loans is the best way period

43. Civil asset forfeiture already exists. It will only get bigger.

44. I am very feircly against all types of wealth taxes THAT ARE NOT LAND VALUE TAXES!

    Because I've played with options and long story short, at one point my unrealized gains wouldve required I pay a lot of taxes if they were to be taxed and by the end I was deep in the negatives.

    Scale this up to the millions and billions and you'll have a disaster.

    Easy change is to remove all STEPPED UP BASIS INHERITANCE! This means when a billionaire or multi millionaire dies, all the loans they died with are taken from their estate and after all that's taken off whoever inherets their billions worth of stocks and real estate will not have to pay any capital gains taxes if sold. That's complete fucking bullshit from all angles.

    Remove that loophole and create new tax brackets that go deeper and deeper into the millions and you'll successfully push us closer to the center of the laffer curve, study after study has shown we're furthest to the left in terms of modern economies on the laffer curve and we may be no where near the center.

45. Aren’t you supposed to be an investigative journalist? The bias is REAL in this one.

    3:30 – Can you please explain how R&D (line item above ebitda) is impacted/stifled by Tax (line item below ebitda) ?

    12:21 – “Asset seizure tax”, tell us how you really feel Spence 🤔

    16:08 – This makes my blood boil too Spency, maybe your next video we suggest ICE go to CA?!

    18:37 – referencing the Laffer Curve in this context is diabolical ☠️ I can provide you source material discrediting this, that I read all the way back in college 😂

    Spencer wants to simultaneously be a Coffeezilla & a billionaire so bad 😅 gl on your journey, I will no longer be following it. Unsub

46. Without billionaires whos going to be responsible for using all the infrastructure that we pay for so their businesses can function?

47. I see billionaires leaving as an absolute win.

    Dont threaten me with a good time

48. Rich people wouldn't lie to us about what taxing them would do, would they?

    Its not like they have anything to gain from it, right?

49. I would just tell them I’m taking my company elsewhere along with me if you have me pay that tax

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