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- California entrepreneur warns billionaire wealth tax could trigger ‘giant ...
California entrepreneur Eric Schiffer warned that the state's proposed billionaire wealth tax could drive some of its most successful business leaders out of California, predicting a "giant sucking sound" of entrepreneurs heading for the exits if voters approve the measure.Schiffer, chairman of family office Patriarch and CEO of Reputation Management Consultants, told FOX Business that he works with several billionaire clients, including some in California, and said many are unhappy about the proposal."I think the impact of this passing in California is a giant sucking sound of all of these entrepreneurs being sucked out of California because they're just not going to want to stay," Schiffer said."Why would anyone stay if they have spent their life building wealth that they were already taxed on?" he continued.MARK CUBAN TELLS RO KHANNA 'YOU DON'T UNDERSTAND BUSINESS,' THREATENS INVESTMENT SHIFT OVER BILLIONAIRE TAX"You're going to see some of the most brilliant, most successful men and women that have been the cornerstone of tax revenue and donational revenue and leading companies that are employing fleets of individuals and scores of individuals, they're going to say, 'No mas, I'm out. Goodbye,' because they don't feel respected or appreciated and they feel under attack," Schiffer said.Proposition 40, which is on the Nov. 3 ballot in California, would impose a one-time tax equal to 5% of net worth on billionaires who were California residents on Jan. 1, 2026.The tax would be due in 2027, although payments could be spread over five years at an additional cost. Real estate, pensions and retirement accounts generally would be excluded from the tax.The measure has been endorsed by the California Democratic Party, while some notable leaders, including Gov. Gavin Newsom, have expressed opposition. California Republican gubernatorial candidate Steve Hilton has also warned that the billionaire tax would further strain the state's economy.BILLIONAIRES AND BUSINESSES FUEL GROWING EXODUS FROM BLUE STATESSchiffer argued that the tax could also affect Californians without billion-dollar fortunes, saying the consequences could reach their workplaces and economic opportunities."I think some of the consequences, if you're a working individual in California, is there's going to be less opportunity," Schiffer said.He argued that if entrepreneurs relocate, the state could lose businesses, jobs, investment and tax revenue."If you think California, when you have all these billionaires bolt, isn't gonna hurt and isn't going to create problems and isn't going to reduce tax revenue and reduce jobs, boy, you're smoking some of… [TheTopNews] Read More.2 days ago - Did My IUD Make My Depression Worse?
After Mother Jones senior reporter Julia Lurie had her IUD removed, she was surprised to find that she felt happier and calmer than she had in years. Subscribe to Mother Jones podcasts on Apple Podcasts or your favorite podcast app. Her experience made her wonder: What does the science say about how hormonal birth control affects mood? And in a moment when contraceptives are so politicized and misinformation is rampant, is it possible to talk about the side effects of birth control without giving ammunition to those who want to get rid of it altogether?In talking with scientists, doctors, and public health experts, Lurie learns that for years, research has found that people on hormonal contraceptives are much more likely to experience depression, suicidality, anxiety, insomnia, and other effects rarely discussed by the doctors who prescribe them. “For some women, it can be an almost overnight change,” says OB-GYN and contraceptive researcher Dr. Ojvind Lidegaard. This week on Reveal, we explore the gaps in women’s reproductive health, from contraceptives to menopause. [TheTopNews] Read More.2 days ago - Open Thread
2 days ago - Madonna’s MTV VMA nominations increase to 13
Madonna’s MTV Video Music Awards (VMAs) nominations have increased from 11 to 13 after MTV dropped four new social categories. [TheTopNews] Read More.2 days ago - Google’s Gemini AI hacked three companies in security test
The AI model accessed the internet and guessed credentials to three websites, a Google official told the BBC. [TheTopNews] Read More.2 days ago - Everything we know about the Ed Sheeran and Macklemore controversyHere's what led to the controversy surrounding singer Ed Sheeran's tour and all the twists since rapper Macklemore was dropped over pro-Palestinian comments. [TheTopNews] Read More.2 days ago
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