It's just not going to happen. But that's what they're going to try to do. And they've caused a lot of these people in California to leave because they're California's trying to do a wealth tax now, which is basically whatever your wealth is on paper, you just got to pay 5% of that. which honestly, even somebody that's not worth a terrible amount of money, that's not an easy thing to do. So if you have a 401k, they're going to count that. (1:04:20–1:04:37)
CLAIM
Asserts that California is proposing a wealth tax of 5% on paper wealth.
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