Indian-origin enterprise capitalist Asha Jadeja Motwani has questioned why California’s richest residents are threatening to depart the Blue state over a proposed “billionaire tax”, saying the wealthiest already take a lot of the tax burden.In a submit on X, Motwani pushed again towards claims that the proposal would unfairly goal the ultra-rich. “As anticipated, billionaires paid bulk of the taxes. The underside 50% paid 0.1%. I’m completely blissful about this. I don’t perceive what’s the drama happening in California concerning the ‘billionaire tax’ on condition that billionaires are paying a lot of the taxes in any case,” she claimed.Her feedback come as a number of high-profile billionaires are reported to be reconsidering their ties to California forward of a potential poll measure that will impose a one-time wealth tax on the state’s richest residents. The proposal was backed by the healthcare union SEIU-United Healthcare Staff West and would apply a 5 per cent levy on property held by people value greater than $1 billion.If accredited by voters, the tax would apply to anybody residing in California as of January 1, 2026. Supporters say it might elevate as a lot as $100 billion from roughly 200 billionaires, with funds used to assist healthcare and offset potential federal funds cuts.Nevertheless, reviews counsel that a number of the state’s wealthiest figures are already planning exit methods. Tech investor Peter Thiel has hinted at opening workplaces outdoors California and spending extra time elsewhere. Google co-founder Larry Web page can also be stated to be contemplating leaving the state, with a number of corporations linked to him lately included in Florida. Moreover, Sri-Lankan-born tech entrepreneur Chamath Palihapitiya lately warned of an “exodus” of high founders and stated he was contemplating a transfer to Texas.The potential tax publicity is big. Estimates counsel Web page might face a one-time invoice exceeding $12 billion, whereas Thiel’s might cross $1 billion, in response to the New York Instances.California governor Gavin Newsom has opposed a state-level wealth tax, saying it might push wealthy residents to depart and harm the state’s funds in the long term.Motwani has additionally been concerned in different delicate points. She has claimed that she influenced Donald Trump in softening his stance on H-1B visas. She lately supported JD Vance’s thought of America as a Christian nation, saying it’s completely OK. She has additionally been accused on social media of defending billionaires who contribute much less in taxes regardless of incomes extra.
