Billionaire Peter Thiel Fights to Save Fellow Billionaires Pennies
Peter Thiel, a man whose personal fortune is estimated in the billions, has graciously donated $3 million to a group working to block California's wealth tax. The proposed tax, targeting assets over $50 million, would affect an estimated 0.1% of California households. While the NYT notes Thiel's investment in 'free market' principles, it's a rather selective freedom when it comes to contributing
to the public coffers that support the very infrastructure securing these vast fortunes. One might wonder at the urgency of protecting wealth that far exceeds any reasonable human need. This isn't about fostering innovation; it's about hoarding. How much collective good could $3 million, or indeed, the projected $7.5 billion from such a tax, do for California's actual working citizens, whose taxes
disproportionately fund essential services?