kev @KevFeld - Twitter Profile

kev @KevFeld

9 months ago

@MyLordBebo He spent all of his FSA money on his glasses. You gotta spend it or you lose it 🤣

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Chamath Palihapitiya

@chamath

9 months ago

California will be bankrupt by 2030. If you’re expecting a state pension, it is at risk. If you don’t believe it, check Grok or Gemini and explore how California politicians changed the reporting rules on your pension so they could hide how underwater it is. The middle class citizens of California will soon be asked to pay a huge price to bail out the state. Why them? Because that is where most of the wealth of California resides. It’s easy to single out “billionaires” but there aren’t many of them and they can and will all leave before the bottom falls out. They are leaving in droves already. The mismanagement in California is biblical - and the scale is huge because it’s the world’s 4th largest economy. California politicians and their henchmen are now entering the coverup phase where they can no longer hide their financial incompetence so they are taking from average California residents to try and hide what they’ve done: You will soon see ballot initiatives with fancy tiles like “billionaire tax”. But those are lies. They are mechanisms to tax everything, every way: Excise taxes Wealth taxes Private property confiscation It’s all happening now. If you want to preserve California, you will need to stand up because California has become a kleptocracy.

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Chamath Palihapitiya

@chamath

9 months ago

This idiotic attack, by an inept California politician, on a productive California resident caused him to leave. It should not be lost on anyone that this has already cost California $10’s of billions in lost taxes from Elon and the plethora of well paid employees that followed him out of the state. That number will exceed $200B+ as SpaceX goes public and Tesla grows even more and whatever amazing new companies he starts from now…in Texas. Said differently, had California embraced its innovators and worked with them to find ways to support them, they could count on hundreds of billions in tax revenue. Without him, they’ve gone from surpluses to massive deficits. The will now ask you for the money. What happens if even more entrepreneurs leave? What jobs will be left in California? Who will pay the taxes? I’m glad Elon left and took his tax revenue with him. It has helped expose how fiscally broken California is. If it is not obvious to you, it should be. Yet these politicians refuse to change. Refuse to do audits and spend less. Instead, they now target others down the list and keep asking for more. There is no amount of “more money” that will fix theft, financial profligacy and mismanagement by incompetent elected officials. We need wholesale reforms in California before the state goes bankrupt. We probably have until 2030 at best.