Hannah HammondFounder & CEO, HB Capital & The Firm RE · CEO of HB Capital | Helping CRE Developers & Investors Fund Deals Nationwide | Host of The Hannah Hammond Show

This Is How States Lose Their Highest Taxpayers

Name: This Is How States Lose Their Highest Taxpayers
Uploaded: 2026-03-26T18:15:56+00:00
Duration: 35 s
Channel: Hannah Hammond
Description: In this brief conversation, Hannah Hammond explains California’s proposed billionaire wealth tax, noting it would be the first U.S. policy to tax…

26 Mar 2026 · 1 min

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In this brief conversation, Hannah Hammond explains California’s proposed billionaire wealth tax, noting it would be the first U.S. policy to tax already‑paid property in aggregate and to tax unrealized gains on stock holdings. She argues that such a tax would trigger a mass exodus of the state’s wealthiest residents, citing the All In podcast’s estimate that up to half a trillion dollars in net‑worth could disappear as billionaires relocate to avoid the levy. The discussion frames the tax as a classic cause‑and‑effect scenario: heavy taxation prompting capital flight, ultimately costing the state the very revenue it seeks to raise.

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In California, they're proposing the billionaire wealth tax. A lot of billionaires are moving. It is the first time in American history that your property that you've already paid taxes on can be taxed again in aggregate.
Right back to every action has an equal and opposite reaction. They try to tax all the billionaires, all the billionaires are going to leave and they're not going to get the tax and they'll probably end up somewhere in the middle. If I was a billionaire in California, I would get the hell out of there so fast. Not only that, they're proposing to tax unrealized gains on stock holdings. And I was just listening to the All In podcast today. He was saying that it's estimated that if that were to pass, they would lose half of a trillion dollars in net worth of people that would exit.