Greer Dove’s days are packed with studying business and finance, as well as doing administrative work at college, along with caring for her eight-year-old daughter with special needs. But once a week, Dove, a single mother, makes sure to drop in at the food bank in California’s Marin County to pick up vegetables, fruit and other food. Along with the federal government’s food benefits, they keep her housing running. “We need this so we can keep functioning at a high level,” she says. “She loves fruit, so I make sure to get it,” she says of her daughter.
Dove, who is also looking for a full-time job, has worked in restaurants, event management, retail, television shows, office administration and payroll over the years. But she has been on the federal government’s Supplemental Nutritional Assistance Program (SNAP) for six years, and with the food bank, for more than three years. Before she got food benefits, Dove fed her daughter all she had and skipped meals or looked around for snacks in the offices she worked at to get her through the day.
Then you pass an exit tax law. Norway did this. 38%.
Media is constantly telling us we need to succumb to blackmail of billionaires leaving.
From https://www.forbes.com/sites/nathangoldman/2025/11/14/can-a-5-wealth-tax-on-200-billionaires-save-or-sink-california/
The most common issue raised by skeptics of wealth taxes is “capital flight”. As discussed in a Tax Notes article, “such a tax would signal to wealthy taxpayers that they should reside elsewhere.” This article goes on to discuss that high-income taxpayers pay the majority of state income taxes in California, and even if a small number of those individuals leave, it could lead to long-term tax collection consequences.
This concern has been underscored by numerous academic studies. Most recently, an NBER working paper co-authored by Jakobsen, Kleven, Kolsrud, Landais, and Munoz finds that 1 one percentage-point increase in the top wealth tax rate in Sweden and Denmark leads to an outward migration of wealthy taxpayers by two percent. Other work in the American Economic Review by Moretti and Wilson documents that variation in jurisdictional taxes significantly influences the location of talent, suggesting that higher tax burdens lead individuals to relocate.