Tag Archives: Hunt for Taxes

Jan 13 2026

$1 Trillion Flees California’s Billionaire Tax


Posted Jan 13, 2026 by Martin Armstrong |  
governmentspendingtaxes

The proposed billionaire tax has caussed $1 trillion in potential tax revenue to flee California. The billionaire tax would require California residents worth over $1 billion to pay a one-time 5% fee on all assets, including unrealized gains.

Google co-founder Larry Page fled the state and took his $276 billion net worth with him. Page moved his family office, Koop LLC, from California to Delaware and began purchasing property in Florida at the end of 2025. Oracle co-founder Larry Ellison, worth around $245 billion, sold his home in San Francisco in favor of Hawaii. Venture capitalist Peter Thiel cut ties with California, taking his $26 billion and counting, opting to relocate in Miami. Craft Ventures co-founder David Sacks fled California and opened an office in Austin, Texas. Sacks wrote on social media that “Miami will replace NYC as the finance capital and Austin will replace SF (San Francisco) as the tech capital.”

Venture capitalist Chamath Palihapitiya believes California has lost $1 trillion in billionaire wealth because 50% of billionaire-driven potential tax revenue has left the state. Even if the bill does not pass, the fact that it was proposed and highly considered has unsettled capital and smart money will not remain where it is not welcome.

California heavily relies on top-earners to cover budget deficits. Last January, the Legislative Analyst’s Office (LAO) found that California is facing “double-digit operating deficits in the years to come” as a result of reckless government spending. For the 2025-26 period, the LOA believes the state may have a balanced budget, but calls Newsom’s spending and policies highly unpredictable.

GOVERNMENT SPENDING is to blame for the budget failures. Every analysis says the same thing. The LAO suggests: “Legislature would need to address in the coming years, for example, by reducing spending, increasing taxes, shifting costs, or using more reserves. The magnitude of these deficits also indicates that, without other changes to spending or revenues, the state does not have capacity for new commitments.”

California was banking on billionaires to cover 90% of the state’s health care costs. The 2025-26 budget allocated $188.1 billion in total ($42.1 billion General Fund) to Medi-Cal, representing a steep $4.5 billion General Fund increase from the previous year. Medi-Cal is expected to expand to $222.4 billion in FY2026-27. Administration costs alone account for nearly 17% of health spending, with costs increasing by 23% in 2023 alone. The state was expecting the billionaires’ tax to cover $22.5 billion in annual healthcare program costs. The funds have left the state and will not return.

The state was also planning to redirect $2.5 billion from billionaires’ annual contributions to food and education assistance programs. Governments will never understand that they cannot rob Peter to pay Paul without repercussions. Again, the proposal alone was enough to uproot capital, businesses, jobs, development, and innovation.

Jan 12 2026

Swiss Rebuke Further Taxation


Posted originally on Jan 12, 2026 by Martin Armstrong |  

Swiss Parlament

COMMENT:

We had a similar referendum past November initiated by the young extreme leftists for a 50% (!) inheritance tax for wealthy above $50m – despite the fact that we pay already a wealth tax every year!

Well Swiss people realised that the billionaires have feets and can walk away similar to what you write in the California case:

Some 84.1% of Swiss voters said no to the civic duty proposal, while 78.3% rejected the inheritance tax initiative.

TAXES TEXT

REPLY:

Switzerland became wealthy precisely because it respected property rights, capital mobility, and legal stability. The moment you threaten those pillars, the entire foundation collapses. The nation caved to the European Union in 2015 and abolished banking secrecy, the primary reason that people chose to keep capital in Switzerland. Switzerland abandoned its neutrality stance on war for the European Union, but internally, politicians are looking to shake down citizens for money as their own policies have caused capital to flee.

In November, radical leftist groups pushed not one but two initiatives that reflected the same ideological fantasy now sweeping California, New York, and Brussels. One proposal demanded a 50% inheritance tax on fortunes above CHF 50 million, while Switzerland already imposes a wealth tax every single year. The other initiative framed redistribution as a so-called “civic duty,” attempting to dress up confiscation as morality. More than 84% of Swiss voters rejected the civic duty proposal, and over 78% rejected the inheritance tax.

Wealth taxes merely shrink the tax base, reduce reinvestment, and push entrepreneurs offshore. Inheritance taxes punish saving or building something intended to last beyond a lifetime. Switzerland currently has a decentralized inheritance tax system that attracts the wealthy. The nation has already lost its destination for capital by handing over all banking information to centralized governments. Adolf Hitler deemed it illegal for Germans to store money outside the country, leading the way to Swiss banking. Decades later, centralized governments deem it illegal to store money anywhere that they cannot track and tax it. Christine Lagarde began the SWIFT confiscation when she was the head of the IMF. Lagarde threatened all tax havens to turn over accounts or be removed from SWIFT.  Not even Hitler violated the sovereignty of Switzerland where those in government today are far more ruthless and threaten other nations with ultimatums.

Why would the government be entitled to half of someone’s fortune? The government collects its share when you earn your wealth. They tax the assets you hold, tax capital once realized, levy your property annually, and then, even in death, the government demands more. Family businesses cannot operate long-term under these conditions, and to the government’s advantage, families cannot grow in power. Inheritance taxes are not designed to fund the government; rather, they are intended to prevent intergenerational wealth transfer and keep citizens dependent on the state.

Switzerland has begun phasing in the global minimum tax rate of 15% for multinational enterprises with revenues exceeding 750 million euros. A vote will be held this year to determine whether married couples should be taxed independently. VAT tax will be expanded to online digital services such as streaming platforms. Governments are assessing every possible angle to steal from citizens. The world will witness higher tax rates and excessive authoritarian controls on capital as we move toward the end of the current cycle.

Dec 15 2025

Democrats Insist on Taxing Tips        


originally on Posted Dec 15, 2025 by Martin Armstrong 

governmentspendingtaxes

Democratic states are insisting on taxing tips to defy Donald Trump. That’s right—a popular piece of legislation that is seemingly bipartisan has been met with partisan defiance from blue states with representatives who favor rebelling against Trump over the well-being of their constituents.

The One Big Beautiful Bill includes a No Tax on Tips stipulation that prevents the IRS from grabbing cash tips under $25,000. Linemen and factory workers are not taxed on overtime under this bill as well. Illinois, Maine, New York, California, Massachusetts, Connecticut, Hawaii, and the District of Columbia are deliberately preventing residents from enjoying this tax break without valid cause.

Illinois claims it needs to continue taxing tips at the state’s 4.95% flat income tax level because the state needs the revenue. Common sense shows us that governments ALWAYS spend more than they earn in taxation. Senator Craig Wilcox is attempting to introduce legislation to push back against Governor JB Pritzker and the Illinois Democrats. “This is effectively a tax hike on the people who can least afford it,” Wilcox stated. “Democrats cannot claim to support working men and women while blocking measures that would provide real, substantive relief.

Waiters

Colorado maintains it is “decoupling” from federal tax provisions, formalizing taxes on tips and other forms of income. Governor Jared Polis of Colorado said that the change would cost the state $90 million annually, and the state should decide how it steals and redistributes money through social programs. Fields of Advance Colorado accused lawmakers of “balancing the budget on the backs of workers” as legislators passed bills such as HB 1296 that demand the state receive a portion of overtime pay.

New York Comptroller Thomas DiNapoli criticized the tax deduction as perhaps too democratic. Only 6% of New York workers receive taxable tips, after all, and they apparently deserve to be shaken down by Uncle Sam like the rest of us.

These governors are admitting that their budget deficits are too steep to benefit the people in any way. These are the same people who tout raising the minimum wage during campaigns to pretend they are for the working man. A majority of these unfunded state budgets are spent on social programs. There is simply no logic to this political theatre aside from “anything but Trump.”

Oct 8 2025

Episode 4832: MAGA Under Siege; Trump Pushing Back Against Globalism


Posted originally on Rumble on By Bannon’s War Room on: October, 07, 2025

Oct 8 2025

Merkel Blames COVID for Ukraine War


Posted Oct 8, 2025 by Martin Armstrong |  

Merkel Mask

Former German Chancellor Angela Merkel was the first person to admit that the Minsk Agreement was a ploy to buy time to help Ukraine build its military. The Western powers never intended to honor the Minsk Agreement or any of their peace deals with Russia. Yet, Angela Merkel believes there is a bigger culprit behind Russian aggression—COVID-19.

“We couldn’t meet anymore” because Putin was “afraid of the coronavirus pandemic.” Merkel’s theory: “If you can’t meet, if you can’t discuss your differences face to face, you won’t find new compromises.” In a recent interview, Merkel plainly states, “Corona is the main reason” why Russia attacked Ukraine.

Merkel also stated in a separate interview that she has been a political “scapegoat” for escalating Russian aggression. People blame Merkel, unfairly, I will add, for continuing to purchase Russian oil at that time. She has been attacked for failing to boost Germany’s defense during her tenure. The public believes that Germany used the Minsk Agreement to appease Putin, but Merkel herself admitted the deal was to boost Ukraine.

Not only is she blaming COVID, but Merkel is blaming Poland and the Baltic States for preventing the European Union from establishing direct contact with Russia. She mentions that these EU nations were also keen on importing Russian energy, because politicians were unwilling to sabotage the energy sector before Brussels had complete control over the EU bloc.

“In my opinion, it was necessary to try to resolve conflicts with Russia peacefully. At the same time, we also strengthened the principle of deterrence… At the 2014 NATO summit in Wales, a goal was set for all countries to spend two percent of their gross domestic product on defense. I recognize that the energy with which this was advanced was limited,” the former chancellor said.

This war began in 2014, long before the pandemic. Putin invaded as a direct response to the Minsk Agreement hoax, and in reality, Merkel knows the truth. “But I don’t believe that when he came to power in 2000, he was already planning to attack Ukraine one day. Rather, it is a development in which we in the West must also ask ourselves whether we have always done everything right,” the former chancellor noted in a separate interview. True. Putin did not enter politics with the intent of restoring the Soviet Union. The entire reason Yeltsin handed Putin the reins of power was to prevent Russia from being overtaken by the hardliner oligarchs who DO want to see a USSR revival.

Merkel has gone off the rails in her interviews since leaving office. Her frankness is refreshing for those of us who understand the long con game these neocons have been playing–Merkel cannot bite her tongue to conceal the Plot to Seize Russia.

Oct 8 2025

President Trump Holds a Bilateral Meeting with Canadian Prime Minister Mark Carney


Posted originally on CTH on October 7, 2025 | Sundance 

Canadian Prime Minister Mark Carney travels to the U.S. for a White House meeting with President Trump.  The two leaders hold a press availability prior to entering negotiations.  WATCH:

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Oct 7 2025

The EU No-Confidence Vote on Ursula


Posted originally on Oct 7, 2025 by Martin Armstrong |  

Ursula Leader of EU

COMMENT #1: Hi Martin,

Macron is totally cornered tonight, and 62% of the French people are now demanding his resignation. With all the panic cycles showing up in multiple markets in 3 weeks only, may God help us if the petit Napoleon doesn’t take us into war with his other European parasite friends to avoid losing power after their failed policies, and humiliation as the most hated president in history. Unbearable for such a narcissistic character.

Best wishes from France.

PH

COMMENT#2: Mr. Armstrong,

Thank you for doing podcasts in Croatia and Serbia. You are being heard. The president, Milorad Dodik, a Bosnian Serb, who is the 8th President of the Republika Srpska, is now publicly saying what you have been warning about: that this war with Russia is because the EU is in trouble. I know if I ask, you cannot confirm or deny. But it appears that you may be advising countries in the Balkans. I certainly hope so. Dodik has publicly stated that the political situation in European countries is deteriorating, and their economies are in recession. Dodik warned that the EU is a trap. “The Balkan countries should not join the EU. It’s a trap. By the time we join the European Union, it will disappear, and it is already disappearing.” 

Thank you so much for your efforts. You are the only person who truly deserves a Peace Prize.

VR

Merz vs Ursual 10 5 25

REPLY: If you are blind, you can still see that once the EU was created, like a small businessman seeks to expand his business, that same human instinct takes place among politicians, but the difference is they constantly seek more and more power directed against the people. Even German Chancellor Friedrich Merz called for “putting sticks in the wheels of Brussels” in order to regain Berlin’s influence. Merz wants to give part of the EU’s powers to national governments. He has stressed that it is necessary to stop Brussels’ interference “in people’s daily lives” in the person of European Commission President Ursula von der Leyen.

“Now we have to put a stick in the wheels of this machine in Brussels,” the German chancellor said, addressing business leaders.

Merz also criticizes von der Leyen for proposals to expand the EU budget, introduce new taxes, and for the protracted negotiations on trade agreements. He has insisted on reviewing the role of Brussels in defense planning. Merz has actually said that the EU has “gone too far” and that this situation “can no longer continue.”

Poland has also expressed similar problems with Ursula’s administration of the EU. She has really wiped out the European economy by using insane climate control to the migrant crisis. A mere glance at the GDP of Europe in comparison to that of the United States reveals how it has significantly suppressed economic growth, pushing the EU to the brink of collapse.

EU_GDP Q 5 1 25
US GDP Q 1947 1st Q 2025

This is the official data taken from the Federal Reserve. This is why we even have a NO-CONFIDENCE VOTE on Ursula this week. I was in a meeting in Berlin and had to run to the next meeting in Rome. These climate change policies have led to the cancellation of short-term flights. There was only one direct flight in the morning. I had to rent a private jet to make the next meeting. I have NEVER in over 40 years been compelled to do that.

Milorad Dodik

Since the 1995 Dayton Peace Agreement, Bosnia and Herzegovina has functioned as a decentralized, multiethnic state divided into two entities: the Federation of Bosnia and Herzegovina and Republika Srpska. Ukraine should have been divided along ethnic lines. But NATO and the NEOCONS have been using Ukraine as their sacrifice on their Neocon altar to bring down Russia.

The Balkans can’t look to the future because they are forever hostages to the past. Even the Baltic states face the same issue with Kallas of Estonia, who insists that Russia is too large and must be broken up. The EU hates Dodik because he is pro-Russia.

IBEUUS D Array 10 6 25

This week, the European Parliament is scheduled to hold two no-confidence votes against European Commission President Ursula von der Leyen on Thursday, October 9, 2025, at 12:00 PM CEST. These votes follow a joint debate held on Monday, October 6, 2025, at 5:00 PM CEST. What is fascinating is how the computer picks up these events from the economic patterns. He had a Panic Cycle for the 9th – the day of the vote.

The motions have been introduced by two political groups: the anti-leftist “Patriots for Europe” and the left-wing group “The Left.” The Patriots for Europe criticize Ursula von der Leyen’s green policies and response to illegal migration, while The Left condemns the EU’s inaction on Gaza. Both groups also oppose Ursula’s trade policies, particularly a tariff deal with the U.S. and a proposed EU-Mercosur agreement, which they argue harms farmers and the environment.

Most expect the motions will fail and Ursula will maintain the European tyranny. A two-thirds majority is required to pass a no-confidence motion in the European Parliament, and such a majority is not anticipated. Centrist parties, including the European People’s Party (EPP), Socialists and Democrats (S&D), and Renew Europe, are expected to support Ursula to the detriment of Europe. They will ensure that Ursula von der Leyen will retain her position and allow Europe to fulill is destiny.

IBEUUS W Array 10 6 25

Despite the expected outcome, these motions highlight growing political polarization within the European Parliament and reflect broader dissatisfaction with von der Leyen’s leadership. However, the computer does NOT show such clear sailing. This week was to be a Directional Change, and we have a Panic Cycle that is showing up around the world in various markets, especially during the Week of October 27th.

Oct 7 2025

French Prime Minister Sebastien Lecornu Resigns Only Weeks After Installation


Posted originally on CTH on October 6, 2025 | Sundance 

Well, number five didn’t last long. Now French President Emmanuel Macron will be looking for Prime Minister #6.

France’s new Prime Minister Sebastien Lecornu has resigned only a few weeks after his installation. Just yesterday he appointed the cabinet, and today he quits. With the parliamentary government collapsing repeatedly, and with serious economic and financial issues around the French government, things are increasingly spiraling.

FRANCE – […] Lecornu, France’s fifth PM in less than two years, had his work cut out to convince the country — and investors — that he can unite a fractious and divided parliament enough to get a 2026 budget over the line.

He was installed in early September against a backdrop of public unrest and dissatisfaction over the messy state of French affairs, after several successive governments failed to pass budgets detailing spending cuts and tax rises.

A former defense minister and longtime ally of French President Emmanuel Macron, Lecornu resigned just hours after naming a new cabinet on Sunday. The new cabinet, which saw most high-profile figures remain in their posts, was due to hold its first meeting on Monday.

Now, France has been plunged into a new political crisis which will put massive pressure on Macron, who has now installed three failed minority governments.

Lecornu was due to make a speech in front of parliament, the National Assembly, on Tuesday laying out his government’s roadmap.

Parties on both the left and right of the political spectrum in France were watching closely, as were investors and the European Commission in Brussels, to see how Lecornu planned to close a budget deficit of 5.8% in 2024. France’s debt pile amounted to 113% of GDP in 2024.

Both levels are far above EU rules demanding that individual members’ deficits should not exceed 3% of GDP, while their public debt should not surpass 60% of economic output. (read more)

…”I have a new job for you.” 

Oct 6 2025

Millions Sign Petition to Dismantle UK Digital ID System


Posted originally on Oct 6, 2025 by Martin Armstrong |  

DigitalIDStarmerUK

The people of the United Kingdom are fighting back against the government’s plan to roll out a digital ID system. The petition to counter the legislation quickly became the fastest-growing online petition in UK history, with over two million people signing in less than 48 hours. “We demand that the UK Government immediately commits to not introducing a digital ID cards. We think this would be a step towards mass surveillance and digital control, and that no one should be forced to register with a state-controlled ID system. We oppose the creation of any national ID system. ID cards were scrapped in 2010, in our view for good reason.”

Democracy is dead. The government does not care that the people do not want to join this system. “We will introduce a digital ID within this Parliament to help tackle illegal migration, make accessing government services easier, and enable wider efficiencies. We will consult on details soon,” the government said in an official response to the petition.

The government is willing to change laws to pander to the culture of migrants while simultaneously claiming all citizens must lock into the centralized digital platform to curb migration. “We are committed to making people’s everyday lives easier and more secure, to putting more control in their hands (including over their own data), and to driving growth through harnessing digital technology,” the statement added, claiming a surveillance state is for the greater good of Britain.

REAGAN Gov Control

We will launch a public consultation in the coming weeks and work closely with employers, trade unions, civil society groups and other stakeholders, to co-design the scheme and ensure it is as secure and inclusive as possible,” the response continued, blatantly ignoring any attempt to speak with the people of the UK to understand their insights or concerns.

Authorities clarified that people will not be asked to produce their ID, however, obtaining a digital ID will be mandatory for anyone wishing to retain the Right to Work. Furthermore, the system will be integrated into the Gov.UK digital wallet system. The government claims the system is similar to Apple Pay or Google Wallet, but the government will be monitoring the system and “curbing the prospect of earning money” for “illegal immigrants.”

The government can prevent absolutely anyone and everyone from earning money. Governments always expand policies to usurp more power—but never before in the history of civilization did the ruling elite have the ability to monitor and control everyone in real-time. This is simply why the destruction of the West is inevitable. The people have been undermined, their morals and beliefs tossed in the mud. Discussing anything against the government’s agenda is now illegal—free speech is banned. Fiscal mismanagement has caused everyone’s quality of life to plummet. Soon there will be little else for the people to lose by defying government. A system supported by the people cannot last when those very people are pushed to the breaking point of revolution.

Oct 6 2025

Chaebols and Youth Unemployment in South Korea


Posted originally on Oct 6, 2025 by Martin Armstrong |  

chaebols han quoc ty le phan tram dong gop gdp 1660560681

Nepal, Morocco, Madagascar, and now South Korea—the youth are not accepting economic hardships quietly. South Korea passed a “public intimidation law” that criminalizes threats or acts of crime against the general public with a penalty of 20 million won ($13,700) or five years imprisonment. New data has found that half of the suspects are in their 20s and 30s, according to ministry data obtained by Representative Song Seok-jun.

The most common motive noted in around one-third of cases is anger or resentment toward society. The law went into effect back in March and there have been over 70 cases of public intimidation. Authorities have arrested over 50 people, mostly men in their 20s. Crimes vary from online hate to bomb threats.

Seoul National University’s School of Public Health reported in May that 55% of adults in South Korea are living in a state of “prolonged emotional frustration,” and 70% reported that society is “fundamentally unfair.”

Youth unemployment in South Korea has reached 15%, with the national average sitting at 5%. Over 1.2 million young people are unemployed, despite South Korea having one of the highest rates of higher education. Working for a family-run conglomerate or a chaebol is seen as prestigious compared to small and medium enterprises (SMEs) where working conditions and pay are less desirable. SK, LG, Samsung, and Hyundai alone accounted for 40.8% of the national GDP in 2023. In fact, 84.3% of all GDP can be traced to 64 companies ,but they compose only 10% of available jobs.

“The figures make clear that the chaebols’ impact on the Korean economy cannot be easily disregarded. But the 64 chaebol’s share of employment is lower than their share of revenue, which means they need to more aggressively expand their hiring,” said Oh Il-seon, director of the Korea CXO Institute.

Over 70% of Koreans between 25 and 34 hold a college degree, which is 20 points higher than the OECD average. Studies show that only 24% of college graduates in South Korea earn more than those with a high school diploma. In contrast, 69% of college graduated in America are employed.

South Korean children begin training for a position at a chaebol. The market is saturated with educated, eligible employees. Housing and the overall cost of living have skyrocketed. The youth followed the playbook and lost the game. South Korea already has a plethora of political turmoil, but no one is more vocal or willing to cause unrest than the youth.