r/technology • u/Logical_Welder3467 • 18d ago

Society Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses

https://fortune.com/article/how-much-has-google-cofounder-sergey-brin-spent-to-oppose-california-billionaire-tax-102-million-owe-13-billion-if-loses/
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u/KickBalls80 18d ago

And?

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u/Loud-Reaction2460 18d ago

Well we don’t want that. What if in 2 years we are billionaires and we have to pay 20% :/

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u/Bn_scarpia 18d ago

Oh no! We would only have $800 million?? How do you expect me to live on such meager means? (Wipes sweat with $100 bills)

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u/polopolo05 17d ago

if in 2 years I am a billionaire I will have more money then I now what to deal with. tax me 25%

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u/tommos 17d ago

If I was a billionaire I'd gladly pay it. I'd still have $800M left.

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u/Anivia_Mid 17d ago

But it's a one time tax for this specific prop, at least I'm fairly sure it is.

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u/snuff3r 17d ago

But, then we have other billionaires.. we should tax them too.

Wtf is going on here?? Is this some sort of equitable sharing of wealth! Noooo.. communism! eugh!

/Dramatic pretend-dying

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u/dldaniel123 17d ago

But, but, you are looking at this in such a naive way. Sure we won't all be billionaires, but if we allow this one, then how can you know they won't go after your 150k$ 401k next?!?!?!11!1 DONT TREAD ON ME DADDY /s

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u/mclumber1 17d ago

It would mean he would have to liquidate ~20% of his Google stock, which would trigger additional capital gains (both federal and state), which means he'd likely have to liquidate even more than the 20% in order to cover the additional taxes.

And since he is such a large holder of Google stock, this massive selloff would reduce the stock price for everyone who owns shares.

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u/KickBalls80 17d ago

And?

But seriously, stock prices used to be based on revenue. That hasn't been true for a decade

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u/mclumber1 17d ago

Google stock actually has a reasonable price/earnings ratio. It isn't a meme stock like Tesla, or even Apple which also has a higher P/E ratio than Google.

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u/SoochSooch 17d ago

Good. If one person selling their stock is a national level economic risk, then it's irresponsible for them to have it in the first place.

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u/CommaComaChameleon 18d ago

Come on, I want the answer. I can only get so erect..

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u/Bn_scarpia 18d ago

I hear there's a French machine that can help you with your ... uh ... problems

0

u/IlIFreneticIlI 17d ago

And?

nononononono...

And, den?