{"date":"2026-05-02","generatedAt":"2026-05-02T20:26:12.591Z","title":"scrollback — saturday may 02","subtitle":"2 new bookmarks in the last 24 hours","entries":[{"id":"2050284901946266052","url":"https://x.com/byersblake/status/2050284901946266052","text":"How the 5% California wealth tax is a 67% wealth tax for Sergey Brin:\n>Owns 3% of GOOG. \n>Holds 25.3% of voting rights\n>Wealth tax is assessed as the greater of his ownership or voting rights. So his tax is 5% * his 25.3% voting ownership = 1.27% of the value of GOOG. \n>1.27% taxes / 3% ownership looks like a 42.2% wealth tax, but that's not quite right.  \n>He has to pay the wealth tax with after-tax cash proceeds. So he needs to sell enough stock to cover 37.1% in taxes first (23.8% federal and 13.3% state). \n>His gross stock sale has to be 2.01% of GOOG to cover the wealth tax + federal and state taxes. \n>His wealth tax bill is thus 67% of his net worth (2.01%/3%)\n>This for 2026. There are proposals being drafted for a 2028 wealth tax. \n(I understand that some people see this as a feature)","author":{"username":"byersblake","name":"Blake Byers","avatar":"https://pbs.twimg.com/profile_images/1628177601864028160/Ok17wsYu_normal.jpg"},"createdAt":"2026-05-01T18:43:07.000Z","firstSeenAt":"2026-05-02T12:23:22.002Z","links":[]},{"id":"341820445","url":"https://x.com/i/status/341820445","text":"","author":{"username":"","name":""},"createdAt":"","firstSeenAt":"2026-05-02T12:23:22.002Z","links":[]}]}