In California, 200 people cover 47% of all tax revenue.
Of $265B collected, $122B comes from that group alone.
They control $2T in assets—and if they leave, nearly half the state’s revenue walks out with them. pic.twitter.com/oy0vBjHkID
— Brandon Straka #WalkAway (@BrandonStraka) February 25, 2026
In California, 200 people cover 47% of all tax revenue. Of $265B collected, $122B comes from that group alone. They control $2T in assets—and if they leave, nearly half the state’s revenue walks out with them.
- California’s tax system is a fiscal house of cards. Relying on 0.05% of taxpayers for nearly half the revenue isn’t just risky—it’s economic malpractice. The Hoover Institution’s analysis confirms this volatility: when the S&P 500 drops 20%, income tax receipts crater by 14%, gutting budgets. This isn’t hypothetical—during the Great Recession, capital gains taxes collapsed, forcing teacher layoffs and state IOUs. The root problem? A tax code that treats billionaires like ATMs while ignoring structural reforms. High earners are mobile—studies show migration spikes after tax hikes like Prop 30. When they leave, they take $2T in assets and 47% of revenue with them. Yet Sacramento keeps doubling down on this broken model instead of broadening the base. Real solutions exist: flatten rate cliffs, phase out capital gains reliance, and slash red tape to keep businesses anchored. But until bureaucrats stop viewing taxpayers as piggy banks, California’s boom-bust cycles will keep punishing working families when the inevitable crash hits.
- I agree with most of what she says. However, I’m troubled by her comment about assets being concentrated in a few people. I get the sense that she would like to take some of those assets away. That’s not how capitalism works.
- Even if the 200 are paying 23% of revenue, this makes California’s finances extremely fragile. Like sand castle at high tide fragile. That is a small group of people, same size as my Lions Club. If they vote with their feet, California is toast. Trump is right, Democrats are crazy or at the least, delusional. – Frank B
- They already know they’ll leave, they’re plotting on how to steal as much from them as they can. They already feel it’s their money, money the wouldn’t have if it wasn’t for California. – B Rob
- I’ll never understand why so many of them stay in California when you have so many states with low or no income tax in a country with open movement between states. Just move people. – Wiser
- “‘Crazy that we allowed 200 to have that much power'”, guess they don’t have that much power or this wouldn’t have happened. Preventing them from existing is bad for everyone, they create massive wealth and national dominance/security. – Brent FG
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