Chapter
Higher Tax Rates Coming to California
1:21:59 - 1:32:08 (10:08)
Some wealthy high-income earners are leaving California for states with lower tax rates, and some fear that raising the rates even further could cause a net loss of tax dollars. Despite this, it seems likely that California will introduce higher tax rates in the future.
Clips
California is proposing a 1.75% tax on incomes earned over 2 million in the next 20 years to support the clean energy sector.
1:21:59 - 1:23:43 (01:43)
Summary
California is proposing a 1.75% tax on incomes earned over 2 million in the next 20 years to support the clean energy sector. However, some groups are against this scheme, such as the California Teachers Association, as it would spend 80% of the new tax revenue over the next 20 years.
ChapterHigher Tax Rates Coming to California
EpisodeE101: Ye acquires Parler, Snap drops 30%, macro outlook, VC metrics, valuing stocks & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Uber's CEO, Dara Khosrowshahi, encourages having faith in the system that the company will eventually evolve to fit California's new gig-worker law AB5's regulations for Uber drivers, while still referring to the law as a "blunt instrument."
1:23:43 - 1:25:38 (01:54)
Summary
Uber's CEO, Dara Khosrowshahi, encourages having faith in the system that the company will eventually evolve to fit California's new gig-worker law AB5's regulations for Uber drivers, while still referring to the law as a "blunt instrument."
ChapterHigher Tax Rates Coming to California
EpisodeE101: Ye acquires Parler, Snap drops 30%, macro outlook, VC metrics, valuing stocks & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The high tax rate in California is causing wealthy individuals to leave for states like Texas or Florida with lower rates, leading to a decline in net tax dollars collected.
1:25:38 - 1:28:11 (02:32)
Summary
The high tax rate in California is causing wealthy individuals to leave for states like Texas or Florida with lower rates, leading to a decline in net tax dollars collected. Governor Gavin Newsom is weighing the impact of higher tax rates in the state.
ChapterHigher Tax Rates Coming to California
EpisodeE101: Ye acquires Parler, Snap drops 30%, macro outlook, VC metrics, valuing stocks & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
The guest shares his opinion that the invisible hand justifies moving debt to GDP higher and higher, and even if taxes are high, earnings potential is commensurately higher.
1:28:11 - 1:32:08 (03:57)
Summary
The guest shares his opinion that the invisible hand justifies moving debt to GDP higher and higher, and even if taxes are high, earnings potential is commensurately higher. He also mentions that some countries have zero corporate gains tax and income tax.