{"id":973,"date":"2026-06-08T13:40:52","date_gmt":"2026-06-08T13:40:52","guid":{"rendered":"https:\/\/interstatelogisticshubs.com\/?p=973"},"modified":"2026-06-08T13:40:52","modified_gmt":"2026-06-08T13:40:52","slug":"californias-tax-policies-are-so-bad-billionaires-are-willing-to-pay-extra-to-flee","status":"publish","type":"post","link":"https:\/\/interstatelogisticshubs.com\/?p=973","title":{"rendered":"California’s tax policies are so bad billionaires are willing to pay extra to flee"},"content":{"rendered":"
\n

California is well known for driving its productive citizens to other states.<\/p>\n

A proposed new ‘billionaire tax,’\u00a0that’s coming up on the\u00a0November ballot has already driven many of its\u00a0most successful citizens —\u00a0Peter Thiel, Sergey\u00a0Brin, Larry Page, Mark Zuckerberg, Stephen Spielberg — to other states like Florida, Tennessee, Texas, Nevada, any place where the greedy hand of the state is not fixing to take another dip into\u00a0their pockets.\u00a0<\/p>\n

Read more The H-1B visa fraud network<\/a><\/p>\n

The Wall Street Journal last week noticed something weird: A lot of them are moving to nearby Nevada … and they’re seemingly losing money by buying up properties around Lake Tahoe at inflated prices.<\/p>\n

According to the Journal:<\/p>\n

\n
As wealthy Californians flee the state, deep-pocketed buyers are taking refuge in Nevada, which is starting to rival Florida as a tax haven for the elite. Amid surging demand for prime Tahoe property in Nevada, a recent string of megadeals reflects the premium buyers are willing to pay for a lower tax bill\u2014and the widening price gap between the two sides of the lake.<\/div>\n

California\u2019s proposed wealth tax effectively \u201csprinkled rocket fuel\u201d on the ultraluxury market on the Nevada side of Lake Tahoe, said Bill Dietz of Tahoe Luxury Properties.<\/p>\n

The proposal would levy a one-time, 5% tax on the net worth of residents with net assets of $1 billion or more, and would apply to anyone who resided in California as of Jan. 1, 2026.\u00a0<\/p>\n

In December 2025, just after the tax was proposed, Google co-founder Sergey Brin paid $42 million for a lakefront home in Crystal Bay, Nev., property records show. The same month, a 210-acre estate in Zephyr Cove, Nev., sold for $80 million to an undisclosed buyer. Then in March, an entity tied to venture capitalist Steve Jurvetson shattered the Nevada and Tahoe records with the $125 million purchase of an estate in Incline Village, Nev. Jurvetson also picked up an adjacent $7 million property, and paid $46 million for a separate Incline Village home, for a total spend of $178 million. Brin didn\u2019t respond to requests for comment. Jurveston declined to comment.<\/p>\n<\/blockquote>\n

Then came\u00a0the kicker from the Journal:<\/p>\n

\n

Ironically, the wealthiest Nevada home buyers may be saving money on their taxes, but they could be paying at least twice as much for real estate. In the Tahoe area, Nevada homes typically carry a roughly 20% premium over similar California properties, Dietz said, and the delta is far wider for the priciest homes. \u201cA $20 million property on the California side will be $40 million to $50 million on the Nevada side, that\u2019s how dramatic the spread is,\u201d he said.<\/p>\n<\/blockquote>\n

I used to cover billionaires for the Forbes list, and learned that all billionaires pay attention to their fortunes, don’t like to lose money, and always calculate\u00a0the ratios and odds in various deals and scenarios. There’s no question the billionaires knew they’d be paying more for Nevada-side Tahoe property.<\/p>\n

Read more A tear in the social contract<\/a><\/p>\n

\u00a0Obviously, they’ve judged that a better deal than staying in California, where the odds of California’s ruling Democrats leaving billionaires alone after taking ‘their’ five percent were pretty unlikely. Wealth isn’t just a matter of money sitting in a pile, it’s a matter of intentions and investments, what is invested to provide returns in the future. That seems to be what’s operational here, not merely the cash in the checkbook as California’s lawmakers seem to ‘think.’<\/p>\n

Democrats go to the tax-the-billionaire well again and again as they mouth claptrap about ‘affordability’ and they certainly have no intention at stopping with billionaires. Anyone who owns a home, no matter how humble, is a millionaire, after all, with Democrat policies that create inflated property values\u00a0and yes, they will be coming for people with those homes as greedy millionaires. Meanwhile, the billionaires won’t stand a chance in the face of that kind of greed from government that will continue so long as Democrats hold power. Who wants to wait around to be the next harvest.<\/p>\n

By contrast, the Tahoe property looks cheap. What’s more, unlike taxes, property is an investment they get to keep — they can sell it, rent it, make money off it if they like, or just kick back and enjoy it.<\/p>\n

So yes, they got a good deal by paying those premiums, even if some quoted by the Journal think they are losing money. Sometimes it’s worth it to lose money for peace of mind — the certainty that California’s lawmakers won’t take a thwack at their pi\u00f1ata is clearly\u00a0worth paying a premium for.<\/p>\n

And the fact that this is happening tells a lot about just how bad California’s governance is, which, augmented by election fraud, is probably impossible to change for the foreseeable future.<\/p>\n

So adios, idiots, the billionaires have better places to go, and they’re\u00a0happy to pay a premium to do it.<\/p>\n

Read more \u2018Experts\u2019 really hate the DOJ Civil Rights Division<\/a><\/p>\n

Image: Pixabay, via Picryl \/\/ CC0 1.0 universal public domain<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

California is well known for driving its productive citizens to other states. A proposed new ‘billionaire tax,’\u00a0that’s coming up on the\u00a0November ballot has already driven many of its\u00a0most successful citizens —\u00a0Peter Thiel, Sergey\u00a0Brin, Larry Page, Mark Zuckerberg, Stephen Spielberg — to other states like Florida, Tennessee, Texas, Nevada, any place where the greedy hand of […]<\/p>\n","protected":false},"author":1,"featured_media":972,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[151,2],"tags":[447],"class_list":["post-973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-california","category-politics","tag-related-topics-california-economics"],"yoast_head":"\nCalifornia's tax policies are so bad billionaires are willing to pay extra to flee - Interstate Logistics Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/interstatelogisticshubs.com\/?p=973\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"California's tax policies are so bad billionaires are willing to pay extra to flee - Interstate Logistics Hub\" \/>\n<meta property=\"og:description\" content=\"California is well known for driving its productive citizens to other states. 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