Hey, Billionaire Tax co-author here. This claim, whether you like the supposed result or not, is completely false. The provision is optional, and doesn't apply at all to publicly-traded companies. For more, see here:
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
April 27, 2026 at 9:06 PM
Hey, Billionaire Tax co-author here. This claim, whether you like the supposed result or not, is completely false. The provision is optional, and doesn't apply at all to publicly-traded companies. For more, see here:
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
Yet more misinformation about the #CaliforniaBillionaireTax is circulating on X, drawing on highly misleading analysis from the Tax Foundation. We have posted a short document explaining why that analysis is false.
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
Expert Report on Valuation of Controlling Shares of Publicly Traded Companies Under the California Billionaire Tax Act (CBTA)
This short memo addresses concerns that have been raised under the proposed California Billionaire Tax Act (CBTA or Act) about the valuation of "voting&quo
papers.ssrn.com
January 16, 2026 at 2:14 AM
Yet more misinformation about the #CaliforniaBillionaireTax is circulating on X, drawing on highly misleading analysis from the Tax Foundation. We have posted a short document explaining why that analysis is false.
papers.ssrn.com/sol3/papers....
papers.ssrn.com/sol3/papers....
#Bird of the Day: Crimson-backed Tanager (CBTA)
Since we don’t have cardinals in Oregon, the sight of a bright red songbird always takes my breath away when I see them on my travels. This was the very 1st bird I saw in Panama, perched on a railing at our hotel, just after I had checked into my room
Since we don’t have cardinals in Oregon, the sight of a bright red songbird always takes my breath away when I see them on my travels. This was the very 1st bird I saw in Panama, perched on a railing at our hotel, just after I had checked into my room
June 4, 2025 at 2:46 PM
#Bird of the Day: Crimson-backed Tanager (CBTA)
Since we don’t have cardinals in Oregon, the sight of a bright red songbird always takes my breath away when I see them on my travels. This was the very 1st bird I saw in Panama, perched on a railing at our hotel, just after I had checked into my room
Since we don’t have cardinals in Oregon, the sight of a bright red songbird always takes my breath away when I see them on my travels. This was the very 1st bird I saw in Panama, perched on a railing at our hotel, just after I had checked into my room
Taito graphic designers at work on the X68000 version of the in-house graphic software Taito Animation with their 20-button joystick.
Via a 1992 company brochure:
archive.org/details/cbta...
Via a 1992 company brochure:
archive.org/details/cbta...
August 2, 2024 at 5:36 AM
Taito graphic designers at work on the X68000 version of the in-house graphic software Taito Animation with their 20-button joystick.
Via a 1992 company brochure:
archive.org/details/cbta...
Via a 1992 company brochure:
archive.org/details/cbta...
This is actually incorrect and based on a misunderstanding of the measure. The voting shares thing does not apply to publicly traded companies, per the authors of the measure papers.ssrn.com/sol3/papers....
Expert Report on Valuation of Controlling Shares of Publicly Traded Companies Under the California Billionaire Tax Act (CBTA)
This short memo addresses concerns that have been raised under the proposed California Billionaire Tax Act (CBTA or Act) about the valuation of "voting&quo
papers.ssrn.com
August 11, 2026 at 6:37 PM
This is actually incorrect and based on a misunderstanding of the measure. The voting shares thing does not apply to publicly traded companies, per the authors of the measure papers.ssrn.com/sol3/papers....
a female #bird dangling upside down to eat on the unopened buds of the purple coraltree, Erythrina fusca. This wild tree is a member of the legume family and forms seedpods 8” long that are buoyant and can even float across oceans!
Male CBTA are a
Male CBTA are a
June 4, 2025 at 2:46 PM
a female #bird dangling upside down to eat on the unopened buds of the purple coraltree, Erythrina fusca. This wild tree is a member of the legume family and forms seedpods 8” long that are buoyant and can even float across oceans!
Male CBTA are a
Male CBTA are a
Taito's karaoke card system, the TC3700. You could pay with a phone card.
Via a 1992 company brochure:
archive.org/details/cbta...
Via a 1992 company brochure:
archive.org/details/cbta...
August 2, 2024 at 5:54 AM
Taito's karaoke card system, the TC3700. You could pay with a phone card.
Via a 1992 company brochure:
archive.org/details/cbta...
Via a 1992 company brochure:
archive.org/details/cbta...
This is the same guy who predicted the streets of Manhattan would be clogged with millionaires' moving trucks, yes?
Just as a reality check, the CBTA would reduce the growth of an avg billionaire's wealth from ~7% to 6% annually for 5 years.
If your COLA got cut by 1%, would you quit & move to FL?
Just as a reality check, the CBTA would reduce the growth of an avg billionaire's wealth from ~7% to 6% annually for 5 years.
If your COLA got cut by 1%, would you quit & move to FL?
“California is on a path to self-destruction,” wrote Bill Ackman, joining opposition to a tax proposal alongside Google’s cofounder and more.
Possible California Wealth Tax Causes Billionaire Freakout: Page, Thiel Threaten To Leave
“California is on a path to self-destruction,” wrote Bill Ackman, joining opposition to a tax proposal alongside Google’s cofounder and more.
www.forbes.com
December 28, 2025 at 1:01 AM
This is the same guy who predicted the streets of Manhattan would be clogged with millionaires' moving trucks, yes?
Just as a reality check, the CBTA would reduce the growth of an avg billionaire's wealth from ~7% to 6% annually for 5 years.
If your COLA got cut by 1%, would you quit & move to FL?
Just as a reality check, the CBTA would reduce the growth of an avg billionaire's wealth from ~7% to 6% annually for 5 years.
If your COLA got cut by 1%, would you quit & move to FL?
Tenoch sends a heartfelt message to the children of the Centro de Atención Múltiple (Multiple Attention Center, CAM)💪🏾✨
Tenoch le envía un emotivo mensaje a los niños del Centro de Atención Múltiple (CAM)
#Namor #Superheroes 🎥: CBTA 165
www.instagram.com/p/DKlZqaouna...
Tenoch le envía un emotivo mensaje a los niños del Centro de Atención Múltiple (CAM)
#Namor #Superheroes 🎥: CBTA 165
www.instagram.com/p/DKlZqaouna...
June 8, 2025 at 6:16 AM
Tenoch sends a heartfelt message to the children of the Centro de Atención Múltiple (Multiple Attention Center, CAM)💪🏾✨
Tenoch le envía un emotivo mensaje a los niños del Centro de Atención Múltiple (CAM)
#Namor #Superheroes 🎥: CBTA 165
www.instagram.com/p/DKlZqaouna...
Tenoch le envía un emotivo mensaje a los niños del Centro de Atención Múltiple (CAM)
#Namor #Superheroes 🎥: CBTA 165
www.instagram.com/p/DKlZqaouna...
I like this expression, thanks..now I'll thin CBTA..😀
January 6, 2025 at 1:11 PM
I like this expression, thanks..now I'll thin CBTA..😀
& set out to explore the grounds. The CBTA resides in Colombia & Venezuela, & also in Panama where they are so common (& have the nickname “sangre de toro”, or blood of the bull) we got to observe some fun behaviors: a male #bird in a palm bathing in the spray of a hotel sprinkler &
June 4, 2025 at 2:46 PM
& set out to explore the grounds. The CBTA resides in Colombia & Venezuela, & also in Panama where they are so common (& have the nickname “sangre de toro”, or blood of the bull) we got to observe some fun behaviors: a male #bird in a palm bathing in the spray of a hotel sprinkler &
My Dad told his kids a few times that he'd seen Malcolm X debate at Cornell University. For some reason I never bothered to google when that was, but apparently it was May 1962 and it was real! www.tellurideassociation.org/blog/1962-ci...
1962: Civil Rights and Black Power at CBTA - Telluride Association
By Michael Becker In May 1962, Cornell hosted a remarkable debate between two leading intellectuals and activists around Black freedom: Malcolm X, then representing Elijah Muhammed’s Nation of Islam, ...
www.tellurideassociation.org
August 31, 2024 at 5:33 PM
My Dad told his kids a few times that he'd seen Malcolm X debate at Cornell University. For some reason I never bothered to google when that was, but apparently it was May 1962 and it was real! www.tellurideassociation.org/blog/1962-ci...
So, long story short, it is routine for tax legislation to define the scope of what's taxed with reference to events that occurred during the year. Obviously SCOTUS can reject precedents, but it would likely have to toss a large body of prior cases to find anything problematic about the CBTA.
/fin
/fin
December 27, 2025 at 10:31 PM
So, long story short, it is routine for tax legislation to define the scope of what's taxed with reference to events that occurred during the year. Obviously SCOTUS can reject precedents, but it would likely have to toss a large body of prior cases to find anything problematic about the CBTA.
/fin
/fin
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
Center for Biometric Trafficking Awareness
www.cbtawareness.org
May 6, 2026 at 7:34 PM
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
Fokus blajar kmu, Met! Gk usah cnta cbta an. Kmu gblok klau udh jtuh cnta
June 28, 2024 at 1:14 PM
Fokus blajar kmu, Met! Gk usah cnta cbta an. Kmu gblok klau udh jtuh cnta
October 16, 2025 at 10:13 AM
Alternately, owners of interests in private companies can use the default valuation rules the CBTA provides. These default rules do presume that a person with disproportionate voting control owns at least that much of a company.
To repeat, however, these are optional default rules!
To repeat, however, these are optional default rules!
January 16, 2026 at 2:18 AM
Alternately, owners of interests in private companies can use the default valuation rules the CBTA provides. These default rules do presume that a person with disproportionate voting control owns at least that much of a company.
To repeat, however, these are optional default rules!
To repeat, however, these are optional default rules!
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
Center for Biometric Trafficking Awareness
www.cbtawareness.org
March 3, 2026 at 3:39 AM
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
Center for Biometric Trafficking Awareness
www.cbtawareness.org
May 6, 2026 at 7:35 PM
In the article, "Biometric Surveillance Behind the Screen", #CBTA shows how invasive surveillance is done while people are watching movies: www.cbtawareness.org/article3.html. A key take away is the process of surveillance and analysis creates stereotypes and mischaracterizations of their audience.
🌱 At the Huasteca Regenerative Agriculture Center, we work with students from CBTa de Agua Buena, sharing regenerative agriculture practices and hands-on learning alongside faculty from TecNM Campus Ciudad Valles.
🌐Follow us and visit our website:
https://agregenhuasteca.com
#AgroReg
🌐Follow us and visit our website:
https://agregenhuasteca.com
#AgroReg
February 10, 2026 at 12:32 AM
🌱 At the Huasteca Regenerative Agriculture Center, we work with students from CBTa de Agua Buena, sharing regenerative agriculture practices and hands-on learning alongside faculty from TecNM Campus Ciudad Valles.
🌐Follow us and visit our website:
https://agregenhuasteca.com
#AgroReg
🌐Follow us and visit our website:
https://agregenhuasteca.com
#AgroReg
Briefly, the misinformation claims wrongly that the CBTA would impose astronomical tax rates because it supposedly taxes billionaires based on their voting control over a company, not the company's value. This is a (deliberately?) confused jumble of several provisions.
January 16, 2026 at 2:15 AM
Briefly, the misinformation claims wrongly that the CBTA would impose astronomical tax rates because it supposedly taxes billionaires based on their voting control over a company, not the company's value. This is a (deliberately?) confused jumble of several provisions.
December 1, 2025 at 11:09 PM
This is, I'm sorry to say, an embarrassing day for the economic reporting team at the WSJ, which credulously reports a study by a guy who is openly fundraising for his anti-CBTA efforts on LinkedIn (without giving our economics team a meaningful opportunity to respond).
April 27, 2026 at 6:30 PM
This is, I'm sorry to say, an embarrassing day for the economic reporting team at the WSJ, which credulously reports a study by a guy who is openly fundraising for his anti-CBTA efforts on LinkedIn (without giving our economics team a meaningful opportunity to respond).
What the CBTA does is gives owners of privately-held businesses two options for valuing their equity interests.
1. They can submit an appraisal. For assets that have traded or been pledged as a security interest for a loan recently, this should readily reflect market value.
1. They can submit an appraisal. For assets that have traded or been pledged as a security interest for a loan recently, this should readily reflect market value.
January 16, 2026 at 2:16 AM
What the CBTA does is gives owners of privately-held businesses two options for valuing their equity interests.
1. They can submit an appraisal. For assets that have traded or been pledged as a security interest for a loan recently, this should readily reflect market value.
1. They can submit an appraisal. For assets that have traded or been pledged as a security interest for a loan recently, this should readily reflect market value.
Some more #CABillionaireTax in the news:
A deeper dive into whether the CBTA has learned the lessons of the most successful European wealth tax systems in Spain and Switzerland (spoiler: yep). Plus commentary from some people who haven't read the bill text 🫤.
www.latimes.com/california/s...
A deeper dive into whether the CBTA has learned the lessons of the most successful European wealth tax systems in Spain and Switzerland (spoiler: yep). Plus commentary from some people who haven't read the bill text 🫤.
www.latimes.com/california/s...
Is California's proposed billionaire tax smart policy? History holds lessons
Critics of California's proposed billionaire tax say similar measures in Europe failed. Backers of the measure say they took lessons from those failures in drafting the California proposal.
www.latimes.com
January 26, 2026 at 6:47 PM
Some more #CABillionaireTax in the news:
A deeper dive into whether the CBTA has learned the lessons of the most successful European wealth tax systems in Spain and Switzerland (spoiler: yep). Plus commentary from some people who haven't read the bill text 🫤.
www.latimes.com/california/s...
A deeper dive into whether the CBTA has learned the lessons of the most successful European wealth tax systems in Spain and Switzerland (spoiler: yep). Plus commentary from some people who haven't read the bill text 🫤.
www.latimes.com/california/s...