Welcome To Hotel California: Democrats Push Retroactive Billionaire Tax

California’s new “2026 Billionaires Tax Act” isn’t just another tax—it’s a retroactive 5% wealth grab on anyone worth over $1 billion calculated using their 2025 net worth, meaning even if founders and companies flee to Texas or Florida, tomorrow, Sacramento still plans to bill them next year for wealth built under yesterday’s rules. Elon Musk, Larry Ellison, Oracle, Tesla HQ, Palantir, HPE and thousands of smaller firms have already relocated, yet Gavin Newsom’s latest proposal functions as a punitive exit fee on the very entrepreneurs who powered the state’s economy—accelerating the corporate exodus while daring the Supreme Court to finally decide whether states can change the tax rules after the game is over. This presentation exposes the mechanics, the precedent, and why every business owner and high earner needs to treat this as the final warning shot. Learn more: https://www.cummings.law/redomesticate/