Latest / Cultural Wars | America Out Loud News / “5% today… everything tomorrow” The California tax plan critics say could destroy wealth nationwide

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“5% today… everything tomorrow” The California tax plan critics say could destroy wealth nationwide · Cultural Wars | America Out Loud News

• 0:00
  Broadcasting around the world.
• 0:02
  This is on the record with Christian Briggs.
• 0:05
  Serious talk about what's happening around the world and how it affects you.
• 0:09
  Unfiltered truth for a world on edge.
• 0:13
  Follow us on X at BMC underscore H A M live in three, two, one.
• 0:21
  Welcome back, everybody.
• 0:22
  This is Christian Briggs.
• 0:24
  You are on the record.
• 0:26
  And today's show, we are going to be talking about this billionaires, millionaires, everybody, net worth tax.
• 0:33
  You know, what I'm what I'm gonna kind of go into detail is how did this thing even come about?
• 0:38
  Where was the insanity put on the table from which legislators within the California political world could have come up with something so stupid?
• 0:51
  But then again, I always said, you know, there's only fruits and nuts in California.
• 0:56
  Take your pit.
• 0:57
  So, you know, at the end of the day, it may be one of those moments where we'll never be able to define how dumb somebody can be until they do things like this.
• 1:05
  And when they do things like this, we can't understand how dumb they can be.
• 1:08
  We have collected over one point five million signatures.
• 1:17
  The campaign behind another high-profile ballot initiative announced they're ready to move forward.
• 1:21
  And the most important, we are filing those signatures today.
• 1:29
  So today's show is gonna be on Gavin Newsom's California billionaire, millionaire tax, 5% of your net worth.
• 1:39
  And if you think this is just a one-time deal, oh no, no, no.
• 1:43
  This thing has got layers in it.
• 1:45
  This has got more hair on it than Bigfoot or Sasquatch.
• 1:48
  And when I say hair, I'm talking about the kind of hair that not even lasering is gonna get off you.
• 1:55
  Oh no, this is that permanent stuff, kind of like when you're real sweaty and all that hair just kind of piles up and drips of sweat.
• 2:02
  This is worse.
• 2:03
  This is stinky.
• 2:05
  This is back stabbing, backdoor politics at its finest.
• 2:10
  Uh, this is one of those moments where politicians have now come together to systematically destroy the incredible genius of technology and agriculture and real estate billionaires to systematically pay for things like illegal aliens, illegal aliens.
• 2:31
  And I'm not talking about the ones that come from Mars or Venus or God knows wherever else these crazy climate control tree hugging people talk about.
• 2:40
  I'm talking about illegal aliens that are coming in this country unlawfully.
• 2:46
  Now, let's talk about this stupid tax.
• 2:49
  Let's talk about how dumb is dumb.
• 2:52
  Well, I'm gonna explain to you how dumb.
• 2:54
  You know, I once said there are certain people that are have the capability to be walking brain donors.
• 3:01
  Oh, yeah, you didn't know that?
• 3:02
  Sure.
• 3:02
  Let me explain to you something.
• 3:03
  There are people out there today that have the capabilities to be able to literally walk, talk, sit, stand, go to work, go home, drive a car.
• 3:21
  However, based on their level of intelligence, they can't see that when you overtax, and that money that you're trying to get, trying to literally decapitate these guys who have created industries of trillions of dollars, and you're trying to decapitate them and punish them in such a way for the success of adding millions and tens of millions and hundreds of billions of dollars to your economy.
• 3:52
  You are a true walking brain donor.
• 3:55
  You know, I'll say it even a step further.
• 3:57
  I think that allislation should be done in braille.
• 4:03
  And no disrespect to people that can't see, because these people can't think, can't see, can't hear, can't talk.
• 4:09
  They don't do anything other than create stuff that is detrimental.
• 4:13
  So if we make it in Braille, at least you can't yell at them too much because they're blind.
• 4:18
  But these people can see 2020.
• 4:21
  The only problem is they'll they see is Chi-Cing Chiching Chiching.
• 4:25
  You got a nickel, they want a dime.
• 4:27
  You got a dollar, they want a 20.
• 4:30
  It's incredible to think that these people can actually pay their own bills.
• 4:36
  Oh, wait a second.
• 4:37
  They don't.
• 4:38
  The taxpayer pays their bills.
• 4:40
  I forgot that part.
• 4:42
  Okay, now it's making sense.
• 4:45
  Dumb stupid idiots are going out telling everybody, most of these guys now in the legislator in California, they've never had jobs, not real jobs.
• 4:57
  How many people in the state of California legislators?
• 5:01
  I'm gonna say maybe less than 10% are billionaires, multi-millionaires, starting from scratch, were behind the eight ball, were in debt before they even started, and then built this.
• 5:15
  I guarantee none of those guys are gonna vote for this thing.
• 5:18
  There's no way.
• 5:19
  Why would they?
• 5:20
  They know better.
• 5:21
  They know that when you take all the incentive away, when you make it so hard that hope can't even be a part of the equation, can't even be a part of the equation of everyday working.
• 5:35
  Go to work and you're like, oh, look, I need to move a 10,000-pound rock.
• 5:39
  Now, I'm looking at that rock.
• 5:42
  That rock's big.
• 5:43
  That rock is really big.
• 5:45
  In fact, that rock is so big that I'm almost ashamed to say I can't move it, but I can't move it by myself.
• 5:52
  It's so big that I'm not even going to waste my time trying.
• 5:58
  I'd rather just sit at home and look at it in despair and be disappointed because I have no hope of moving that rock up that hill.
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  10,000 pounds.
• 6:09
  That rock weighs more than a Range Rover, fully loaded.
• 6:15
  Okay.
• 6:16
  SV version, extended version, which is about 8,000 pounds.
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  You ain't gonna move that up a hill.
• 6:22
  That Range Rover will move you down the hill as it runs you over.
• 6:26
  Okay, you'll buy as well have to go to IHOP because you're gonna be as flat as their number one selling pancakes.
• 6:32
  So now you're asking the entire citizenship, literally the citizenship.
• 6:38
  If people think that this 5% tax is gonna come off as being a success in the measure of revenue generation, let me tell you how well it worked for the BAT tax in Europe.
• 6:53
  They pushed it through, economics went down, and they still have it.
• 6:57
  And the economics had never been the same.
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  The productivity down, sales down.
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  The productivity down, sales down.
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  We had a luxury tax back in the 90s.
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  We had a luxury tax back in the 90s.
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  Oh, that was a wonderful.
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  Oh, that was a wonderful.
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  Oh, Clinton, we need a luxury tax for all those rich people that can afford those big ticket items.
• 7:06
  Oh, Clinton.
• 7:08
  We need a luxury tax for all those rich people that can afford those big ticket items.
• 7:14
  Yeah, well, those big ticket items like Cadillacs and Corvettes.
• 7:14
  Yeah, well, those big ticket items like Cadillacs and Corvettes.
• 7:20
  Do you know how many jobs those create?
• 7:20
  Do you know how many jobs those create?
• 7:22
  And they're union jobs, they're good jobs, high-paying jobs, health care, benefits, oral.
• 7:22
  And they're union jobs, they're good jobs, high paying jobs, health care, benefits, 401, profit sharing, destroyed, destroyed industries for about four years.
• 7:37
  Thank God that was repealed.
• 7:38
  In fact, I'm gonna tell the story.
• 7:56
  This thing was so dumb, so backwards thought that the original authors of this crazy thing had never been in business.
• 8:05
  I'm not even sure they knew what a business was.
• 8:08
  Kind of like, you know, when people try to put in the gas nozzle into electric vehicle, or they get an electric vehicle and then they don't realize it doesn't take gas altogether.
• 8:20
  I've seen both.
• 8:21
  I've seen people try to try to find like a rental, you know, they take an electric vehicle and they're they're renting.
• 8:27
  And I mean, I'm not trying to make fun of them.
• 8:29
  It's just it's kind of funny because it just shows you they didn't think through what they were doing, or maybe what they were experiencing when they rented an electric vehicle.
• 8:37
  I've seen one, but they try to look you for this where's the gas thing.
• 8:40
  Where do you put the gas in?
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  And you kind of like rub your forehead going, oh my God, they rented an electric vehicle.
• 8:46
  And you don't want to, you know, say it out loud, you know, because I they may not know any better, but these California politicians, they know better.
• 8:56
  Let's talk a little bit about just how bad this tax is.
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  Would impose a one-time 5% tax on the assets of more than 200 billionaires living in the state.
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  It would factor in their stocks, art, and collectibles and their intellectual property.
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  First, how many taxes do you think there are in California?
• 9:21
  Uh taxes and fees and fees that people uh people pay each year.
• 9:32
  Okay, let's let's take this.
• 9:33
  I gotta pull my notes back up here.
• 9:35
  This is really good.
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  You ready?
• 9:38
  So yeah, here we go.
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  This is gonna be fun.
• 9:46
  Okay, sales tax varies.
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  It in some cases, like parts of the country in California, obviously.
• 9:55
  Uh they they have uh, oh my gosh.
• 10:00
  Yeah, hear my notes real quick.
• 10:02
  This is this is fun.
• 10:03
  This is fun.
• 10:06
  California has one of the highest was one of the nation's highest tax combined burdens when you add about here.
• 10:16
  Let me let me just go right to the I'm not even gonna read the fancy word.
• 10:19
  Listen, let's just go right to the meat.
• 10:21
  Your progressive income tax goes from 13.3 to 14.4.
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  That's on top of your federal, your social security.
• 10:33
  A look into the sales tax.
• 10:36
  Oh, here we go.
• 10:37
  All right, here we go.
• 10:39
  So on sales tax, you got seven and a quarter to 10 and a quarter percent sales tax and a 1% base property tax.
• 10:47
  Residents pay numerous state and local fees on fuel, cigarettes, cannabis, utilities.
• 10:52
  I mean, okay, I don't want to sell how many there are.
• 10:55
  Let me just go through this.
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  Income tax, generate okay, graduate rates range from 1% to 13.3% with an additional 1% on income over 1 million.
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  Sales and use tax, seven and a quarter, but it goes up to as high as 10 and a quarter in many areas.
• 11:12
  General 1% property taxes, generally a 1% of assessed value capped by proposition 13.
• 11:18
  So you pay your normal local real estate tax plus a 1% tax.
• 11:22
  That's wonderful.
• 11:23
  You have payroll taxes, gas taxes, among the highest in the nation, almost 71 cents per gallon based on a lower price gasoline.
• 11:33
  Right now it's a percentage of the gas price, so it goes up.
• 11:36
  The amount of cents per gallon of the tax goes up because it's a percentage of how much you're paying for the gallon at the time you buy it.
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  So a gallon of gas is $4 or $40, the amount of tax you pay is subsequently equal as a percentage to the four or the 40%.
• 11:53
  So when people say, oh, I'm paying 71 cents at $4, maybe, but at 40, you're gonna pay $7 and let's just say $7, almost $8.
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  Think about that.
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  And we're rather like $40 gallon of gas.
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  People think, oh, that's crazy.
• 12:08
  Is it really crazy?
• 12:09
  Look what we're gonna be going to 12 or 14, 15, or already creating more taxes on gas.
• 12:14
  The average state in local collections are over 10,319 per person, the third highest in the nation.
• 12:22
  California's tax system is highly progressive, in other words, for communism, with the highest rates impacting the top 5% of the earners.
• 12:30
  Yeah, I know.
• 12:31
  Uh I'll get in some numbers here that are insanely crazy.
• 12:34
  Like if you're if you're living in California, you're hearing our show, and there's a lot of people who do listen to it in California.
• 12:41
  I don't, I don't blame you for wanting to leave and be pissed.
• 12:44
  I mean, even my dear friends who are who are say moderate Democrats have had enough.
• 12:50
  They're like, you know, I can do business anywhere in the country.
• 12:53
  Maybe I take a little bit less of a paycheck, but at least I don't feel like I'm being like a slave to the system.
• 13:01
  You know, I'd rather make a little bit less, pay a little a lot less in taxes, but not giving away my tax money to things of which that do absolutely nothing to increase my standard of living or my way of life, or other than it, it just happens.
• 13:21
  They take it and they and they use that money for things of which that are completely against the constitution that that President Trump is desperately trying to fight to push back on.
• 13:32
  So if you look at like this billionaire's tax, let's go into this.
• 13:36
  This is this is where it gets kind of good.
• 13:39
  This proposal in California to temporarily, temporarily is a word that they don't even know.
• 13:44
  They're lying.
• 13:45
  They do not use that word.
• 13:47
  They use the word to lie to you, but it's not a real word because temporarily is not a word that any politician ever uses.
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  Because it doesn't show the truth.
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  The truth.
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  It doesn't explain the truth.
• 14:00
  It doesn't explain the truth.
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  It doesn't define the truth.
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  It doesn't define the truth.
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  What it does is it masks the truth.
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  What it does is it masks the truth.
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  It covers up the truth.
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  It covers up the truth.
• 14:09
  So the California is proposing to temporarily increase taxes on billionaires as enough signatures, has enough signatures to qualify for the never ballot as of yesterday.
• 14:09
  So the California is proposing to temporarily increase taxes on billionaires as enough signatures, has enough signatures to qualify for the never ballot as of yesterday.
• 14:22
  With our signatures, we are demanding that billionaires pay their fair share.
• 14:22
  With our signatures, we are demanding that billionaires pay their fair share so our hospitals, clinics, and emergency rooms can stay open.
• 14:28
  So our hospitals, clinics.
• 14:33
  California voters have shown they are ready to fight, ready to fight to avoid health care cuts that will hurt millions.
• 14:41
  A labor union back in the measure is saying this is gonna be great.
• 14:46
  This is fantastic.
• 14:48
  For who you know, you want to tax these people.
• 14:52
  They're spending.
• 15:03
  And when Melinda Gates, you know, she talked about his relationship to Epstein how she didn't like it.
• 15:08
  So he's not a likable guy.
• 15:10
  You know, he doesn't come across as a likable guy, but but he does and has created a lot of jobs.
• 15:16
  So I got to respect that.
• 15:24
  I'd rather have him create Microsoft than some company in other parts of the world because we benefit from it.
• 15:30
  He, if you look at what he spends on a yearly basis to maintain his lifestyle, it's like a hundred million dollars a year, maybe more.
• 15:38
  I've heard people say as high as 200 million dollars.
• 15:40
  And that may be the case.
• 15:41
  I got I can tell you this the way he lives and flies and does it in all those different things.
• 15:46
  It's probably 50 million plus 100 million dollars.
• 15:49
  I would not be surprised if it's over 200 million.
• 15:51
  He's got the cash.
• 15:53
  But you got to like that in a sense because he's putting money back into the economy that otherwise might have been somewhere in some foreign nation.
• 16:00
  We don't get the benefit of that.
• 16:02
  So there's nothing wrong with being successful.
• 16:05
  Because when you're successful, you're creating value, you're creating economics.
• 16:11
  He is absolutely great for the economy.
• 16:15
  Sir Gay Brynn, Larry Page, Larry Ellison.
• 16:20
  Uh, look at his son David.
• 16:22
  He's a rock star when it comes to media assets, identifying undervalued assets and going forward, and dad's been a big help that and really been a big champion.
• 16:29
  Look at the whole Warner Brothers takeover.
• 16:32
  Phenomenal.
• 16:32
  Phenomenal.
• 16:34
  110 or 12 billion dollars.
• 16:36
  That's going to go into shareholders' pockets.
• 16:38
  They're going to spend that money.
• 16:39
  The revenue from that is going to be amazing.
• 16:43
  And the taxation from a federal level to a state level, it's gonna, that money is going to literally change hands five to six times over the next decade.
• 16:53
  That's a phenomenal deal.
• 16:55
  Phenomenal, because they're smart guys, but they're not stupid enough to pay a 5% net worth tax.
• 17:01
  What the hell is that about?
• 17:02
  You're you're you're penalizing people.
• 17:05
  The proposal, which was backed by the Service Employees International Union for Healthcare Workers West.
• 17:15
  John Dot Smith at Service Employees International Union Healthcare Workers West.com.
• 17:20
  And that can get lost in translation.
• 17:23
  They would impose a one-time 5% tax on individuals who net worth exceeds 1 billion who are living in the state as of January 1st of 26.
• 17:32
  The goal is to generate 100 billion in revenue, which would largely be used to offset federal funding cuts to health care for low-income people.
• 17:39
  It isn't for low-income people completely and not exclusively.
• 17:42
  This bad boy is going right into the illegal aliens' pockets.
• 17:46
  It's going into service.
• 17:47
  There's never been, hey, how did that high-speed rail money, 13 billion dollars work out for the state of California and all the people that was given?
• 17:55
  Trump is like, where's that money?
• 17:57
  I think they built six inches of rail.
• 18:01
  Now I don't know where San Francisco to LA to San Francisco or San Francisco, LA to San Diego, what the entire length of that thing was.
• 18:12
  They spent like 12 or 13 billion dollars.
• 18:15
  And what they got for it was six inches of rail.
• 18:19
  If they had paid me one billion dollars, I could have guaranteed them six feet of rail.
• 18:24
  No problem.
• 18:24
  I'll do it.
• 18:25
  I'll give you six feet of rail.
• 18:27
  I'll even give you the train.
• 18:28
  And I'm still gonna have 900 million dollars left over to squander.
• 18:33
  They squandered somewhere between 12 and 13 billion dollars.
• 18:36
  I think 8.7 was the initial, and then they got more federal funding under uh brain donor sleepy Joe Biden.
• 18:42
  So they got even more money.
• 18:44
  And then where did it go?
• 18:45
  Well, it didn't go toward rail.
• 18:47
  And you're telling me you're gonna raise 100 billion dollars from hardworking guys, men and women, families that are generational wealth from agriculture to technology to real estate to oil and gas distribution pipeline systems and refineries in California, it's been around forever, generations.
• 19:07
  And you're telling me that you're gonna raise 100 billion dollars.
• 19:10
  You're gonna literally put 100 billion dollars in the California political system.
• 19:16
  I call it a system.
• 19:17
  It's it's almost like gangsters.
• 19:20
  You know, the supermajority in California is like gangsters.
• 19:24
  Gangsters take, they don't give.
• 19:28
  I mean, they'll give you a hard time if you don't let them have their money.
• 19:31
  They're your money is their money.
• 19:32
  Haven't you noticed that?
• 19:34
  I never met a gangster that didn't appreciate a great dollar bill or 100.
• 19:37
  I never met a politician that didn't appreciate a great revenue.
• 19:41
  But with but with Democrats and the socialist communist democratic party, it's all about the tape.
• 19:48
  What's the take this month, this quarter this year?
• 19:51
  Well, the take this year is gonna be 100 billion dollars if this measure passes in November into next year, and you think it's one time.
• 20:01
  No, I don't think it's gonna be one time.
• 20:03
  It's just for billionaires.
• 20:04
  No, read page 26, go to the fine print.
• 20:07
  This thing is gonna cascade down to people in the 1 million dollar net worth eventually.
• 20:12
  It's gonna go from 1 billion to 100 million to 50 million to 20 million.
• 20:18
  If you've ever wanted to crap your pants over a subject matter, this is the one because what starts in California spreads.
• 20:26
  It spreads.
• 20:27
  And let me tell you something about that.
• 20:31
  California, they say this is oh yeah, I gotta hold on, I gotta read this quote to you.
• 20:36
  Okay, here we go.
• 20:37
  California's health is at stake before I make this next comment.
• 20:40
  I gotta tell you this quote.
• 20:41
  California's health is at stake, said Liz Earl Ben, exec executive director of a chapter of the American Federation of State, County, and municipal employees, a major labor union, okay.
• 20:55
  Hospitals are closing and people will die.
• 20:58
  They will die, she said.
• 21:00
  Why?
• 21:00
  Why so many billionaires can get another tax cut that they don't need?
• 21:01
  So many billionaires can get another tax cut that they don't need.
• 21:05
  Listen, if we don't do this 5%, this 5% net worth tax, these people are going to die.
• 21:05
  Listen, if we don't do this 5%, this 5% net worth tax, these people are going to die.
• 21:12
  I think I heard that once with the vaccine.
• 21:12
  I think I heard that once with the vaccine.
• 21:14
  If you don't get the vaccine, you're going to die.
• 21:14
  If you don't get the vaccine, you're going to die.
• 21:17
  And you're going to kill everybody around you.
• 21:17
  And you're going to kill everybody around you.
• 21:19
  I think that Joe Biden said that once.
• 21:19
  I think that Joe Biden said that once.
• 21:20
  You're going to kill people or die or become disfigured, and you're going to be a drain on the system, an unproductive individual.
• 21:20
  You're going to kill people or die or become disfigured, and you're going to be a drain on the system, an unproductive individual.
• 21:29
  So we're going to use.
• 21:29
  So we're going to euthanize you anyway.
• 21:31
  I kind of was what she sounds like.
• 21:32
  Let me read this again.
• 21:34
  California's health is at stake, said Liz Perlman, executive director of a chapter of the American Federation of State, County, and Municipal Employees, which is a major labor union in California.
• 21:45
  Sounds right.
• 21:46
  Hospitals are closing, and people will die.
• 21:50
  The California Secretary of State still has to verify the signatures and officially place the measure on the ballot.
• 21:58
  Say they collected more than 1.5 million signatures.
• 22:02
  Well, roughly well over the roughly 875,000 needed in a short period of time.
• 22:07
  California allows ballot initiative campaigns to pay people for signatures they gather.
• 22:12
  Oh, isn't that precious?
• 22:16
  You can get paid to sign this way.
• 22:20
  No, no, no, not that way.
• 22:22
  This way.
• 22:22
  No, no, no, no, no, no, this way.
• 22:24
  For this.
• 22:24
  What is it?
• 22:25
  Don't worry about it.
• 22:26
  There's $15.
• 22:28
  The cost of gathering petition signatures can vary widely, but it typically runs around $15 for each signature.
• 22:35
  Well, there's about 90,000 homeless people in the state of California.
• 22:40
  I'll bet you many of them got that 15 to 20 or 30 bucks.
• 22:44
  If the measure goes before voters in November, it could prompt one of the costliest ballot fights ever.
• 22:50
  Love this.
• 22:51
  And will draw national attention as a litmus test for voter attitudes on raising taxes on the rich.
• 22:58
  Make no mistake.
• 23:01
  If this goes through, there's a dozen states that will automatically adopt this.
• 23:06
  Bernie Sanders has made it clear.
• 23:08
  Listen to this.
• 23:08
  Senator Bernie Sanders in Koreatown tonight rallying to support a proposed billionaire tax in California.
• 23:15
  These billionaires are gonna learn that we are still living in a democratic society where the people have some power.
• 23:23
  The debate will be if you do the right thing in the moral thing.
• 23:36
  And he's calling it building a better California.
• 23:42
  Yeah, this is great.
• 23:43
  Building, building California just a bit better is pretty much sums it up.
• 23:49
  Silicon Valley Tech Moguls are warning it will drive California's wealthiest residents out of state.
• 23:55
  Nearly half of California's personal income revenue, nearly half of the California personal income tax revenue comes from just the top 1% of earners.
• 24:06
  Hmm.
• 24:08
  Here we go again.
• 24:11
  Nearly half the tax revenue comes from just one percent of the population.
• 24:17
  You're gonna take the 1% and put them out of business and tax them to death.
• 24:22
  Where's the other 50, 55% of the money they're paying into the system?
• 24:27
  Or even if it's 40%, what if it's 20%?
• 24:30
  The 99% tile is going to now have to make up 100% of tax revenue, and it barely makes up over 50%.
• 24:36
  Yeah, dumb is dumb in California stupid.
• 24:40
  After playing with matches since October, the SEIU, that's a huge union, by the way, has succeeded in lighting a tax uh the rich wildfire by getting enough signatures.
• 24:52
  Said David Les Pierce, a tax consultant whose advised some of the wealthiest clients who left California because of the proposal.
• 25:01
  The many billionaire targets of their efforts have already responded by executing fire escape plans by relocating to other states and reallocating their residency quickly.
• 25:14
  Brian Brokaw, a longtime newsome advisor who is leading a political committee opposing the tax, said the measure was poorly constructed and would deal a huge blow to the state's budget.
• 25:26
  No joke.
• 25:27
  No joke.
• 25:29
  Look, I'm all for.
• 25:31
  I'm all for paying the bills.
• 25:35
  I'm all for paying the bills.
• 25:40
  But what I'm not for is bankrupting people, good people that are doing nothing but nothing but showcasing their power hungry, money hungry, appetite, and thirst for this type of theft.
• 26:10
  That's what it is.
• 26:11
  It's theft.
• 26:15
  So just know, just know that there's no way, no way that this measure can pass.
• 26:27
  Because if it does, if it does pass, this will be as California typically has done over the last century, the instigator, the birth of so many socialist communist programs and ideology that's carried forward all the way from the West to the East.
• 26:49
  If this goes through, you can promise and you can bang 150%.
• 26:56
  Make no mistake, this will be the law of the land on a federal level within 10 years in third to half of the states, if not all of them on a federal level, even at the federal level only segments it somehow, somehow through the IRS, because we get a Democrat Congress all the way, executive branch all the way to the House of Representatives.
• 27:16
  We are gonna see the most progressive legislation, ideology, remove the filibuster, stack the Supreme Court with far, we'll just say communist judges like Chavez did.
• 27:31
  And then the third thing they're gonna do is they're gonna rewrite the tax ways of which we implement all taxes.
• 27:38
  Like they'll do like a federal VAT or some kind of a value-added tax.
• 27:43
  And then they'll they'll push states to do this kind of nonsense.
• 27:47
  Okay, we're gonna take a break right now.
• 27:49
  We'll be right back.
• 27:50
  This is we're talking this show today on the record is about the insane California billionaires slash millionaires slash your tax is going to break you and turn you into dust because you're gonna be so broke if this goes through.
• 28:00
  You and turn you into dust because you're going to be so broke if this goes through.
• 28:05
  Be right back.
• 28:05
  Be right back.
• 28:06
  Record with Christian Briggs will be right back after a word from our sponsor.
• 28:06
  Record with Christian Briggs will be right back after a word from our sponsor.
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• 33:57
  Senator Shannon Groves, she's a rock star.
• 34:00
  She's super smart, super educated, loves this country, loves her constituents, loves California.
• 34:09
  And assemblyman Stan Ellis, super nice guy, two good friends of mine, super super super people.
• 34:15
  They're winners, they're great people.
• 34:17
  They have fought for years to hold back the progressive communist agenda of their colleagues.
• 34:25
  And their colleagues all work together and you know, being in the state there.
• 34:29
  Wonderful people.
• 34:30
  I love them to death.
• 34:31
  They need to fight this a good fight.
• 34:33
  This is crazy.
• 34:34
  Enacting a so-called wealth tax in just one state wouldn't target a small group.
• 34:39
  Oh no.
• 34:40
  It would impact all 40 million Californians.
• 34:44
  In a statement that the proposal trades a short-term revenue for a severe long-term loss.
• 34:50
  And at least 25 billionaires listed among Forbes magazines, 25 rankings of the world's 500 wealthiest people either lived or had some significant ties to the state based on the review by the Associated Press.
• 35:00
  Review by the Associated Press.
• 35:01
  Listen, these they were tracking just 25 people.
• 35:01
  Listen, these they were tracking just 25 people and the implications and the impact against them.
• 35:04
  And the implications and the impact against them.
• 35:06
  There's 225 billionaires, give or take or 235 billionaires in California.
• 35:06
  There's 225 billionaires, give or take or 235 billionaires in California.
• 35:11
  Now they've had 11 leave that are like out of there.
• 35:11
  Now they've had 11 leave that are like out of there.
• 35:15
  Like took their la took their last dollar and said, We're out of here.
• 35:15
  Like took their last, took their last dollar and said, we're out of here, moved to various places where they didn't feel that they were living under communism.
• 35:18
  Moved to various places where they didn't feel that they were living under communism.
• 35:22
  The scary part was about that is there's about 208 to 210 give or take that were left behind.
• 35:22
  The scary part was about that is there's about 208 to 210 give or take that were left behind.
• 35:28
  They can't do that with their money.
• 35:28
  They can't do that with their money.
• 35:30
  And you're gonna ask me why.
• 35:31
  So go ahead and ask me.
• 35:33
  I'm glad you asked me, because it's too tied down.
• 35:36
  They don't have just stock.
• 35:38
  Okay, that's like publicly traded, or they can just take it with them.
• 35:41
  They're in agriculture, can't move it.
• 35:44
  They're in huge amounts of real estate, can't just pick it up and move it.
• 35:48
  I mean, you can try, but I think you're gonna have a hard time moving that across state lines.
• 35:54
  It's pretty, it's just isn't gonna be possible.
• 35:56
  So let's be realistic here.
• 35:58
  Okay, let's let's put all the sarcasm aside in the in the humor.
• 36:01
  You cannot and will not be able to circumvent this tax if this goes through in any parts of the United States.
• 36:10
  Hear me out.
• 36:11
  You will 100%, if this goes through, you will see this become a normal tax on high net worth earners, people over 5 million and above.
• 36:26
  They may exempt your house.
• 36:27
  Who knows?
• 36:28
  I doubt it.
• 36:29
  Your homestead.
• 36:30
  I mean, if you're over 65 and you're retired and you're taking Social Security, you should never have to pay real estate tax.
• 36:37
  Zero.
• 36:39
  And I mean zero, never have to pay.
• 36:43
  So the point I'm trying to get here, and for I'm trying to make as fast as I can to get this understood is that you have to push back at some time at some point, at some point.
• 37:00
  Enough is enough.
• 37:02
  Okay.
• 37:04
  So when you look at, here you go, you ready?
• 37:08
  This is this is the best.
• 37:10
  Let's define what the actual tax is.
• 37:13
  We talked about it the first half of the show, but let me go into details, how this thing could really screw you if you're living there and how this thing could progressively move across the United States over the next five or 10 years.
• 37:24
  This will this will go like this will go like fire in the driest parts of the year in Kansas with a 40 mile an hour wind blowing east.
• 37:35
  The proposed California Tax Act would levy a one time 5% tax on the net worth of billionaire residents, subject to the asset restrictions noted below, which we'll go into.
• 37:48
  However, good news, good news.
• 37:53
  Taxpayers could choose to pay the tax in five annual installments.
• 37:57
  They could 1% a year.
• 37:59
  Oh, but wait a second.
• 38:01
  But with a 7.5% additional fee on the unpaid balance.
• 38:05
  So let's say you have a hundred billion dollars, which is staggering.
• 38:08
  Let's just say it's a billion dollars, one billion dollars.
• 38:12
  10% of that is 100 million.
• 38:14
  So 5% is 50 million dollars.
• 38:17
  Now let's say it's in the real estate.
• 38:18
  You don't have that much cash, but you're fortunate enough to inherit or to have built a nest egg of one billion dollars.
• 38:25
  And you're gonna have to sell real estate.
• 38:28
  Oh, this is where it gets tricky and interesting.
• 38:31
  And they know this.
• 38:31
  They they they're dug, they're gonna triple dip and hear me out.
• 38:35
  So you got this one billion dollars.
• 38:38
  Write this down if you're following along here.
• 38:40
  This is good stuff.
• 38:41
  You're gonna owe 50 million.
• 38:43
  There's no way around it.
• 38:44
  You can't you've succumbed to the idea, okay.
• 38:46
  I got to pay 50 million.
• 38:48
  So you might have to sell 25 million dollars, 20 million dollars with the real estate, and I have to fire sale it or sell it.
• 38:57
  Maybe you're making a huge profit on it.
• 39:00
  But whatever you're selling, if you don't have the cash to pay the 50, think about this for a second.
• 39:05
  30 million, 40 million, you might just sell 100 million dollars.
• 39:08
  You know why?
• 39:09
  Because unless you got the after tax cash in the bank to pay the 50 and you got to start selling assets, guess what?
• 39:16
  If they're short term, it's expensive because you got to pay a massive tax to net out the 50, you got to pay.
• 39:22
  And if it's long term, you still got to pay.
• 39:25
  So you may have to sell literally up to 75 to 100 million dollars, and then pay the tax on those assets, then to pay the 50 million, which means this tax isn't 5%.
• 39:41
  No, no, no, no, no, no, no.
• 39:43
  This tax is about 15 to 20%.
• 39:48
  Because if you don't got the cash post-tax dollars to pay it, you got to sell assets that they're gonna assess the tax on, and those assets may take months or years to sell, or you're gonna have to fire sale them if they're real estate or certainly illiquid things.
• 40:02
  This will hit Colorado, Washington, Oregon, New York, New Jersey.
• 40:10
  You're in Colorado, you're done.
• 40:13
  Within five years, this is gonna be on the ballot box.
• 40:17
  Five years.
• 40:18
  You're in New York, New Jersey, this passes.
• 40:21
  We lose 28, three years.
• 40:24
  Sorry.
• 40:26
  Oregon, Washington, three to five years, maybe even three.
• 40:31
  All the other states that go left, which are starting to go purple, purple, purple, five to seven years or sooner.
• 40:39
  Either way, your equities, your bonds, your real estate, your contracts, your reoccurring revenue numbers.
• 40:50
  Either way, you're gonna get taxed something sooner than later.
• 40:54
  This could hit Tennessee, Oklahoma, Kansas.
• 40:57
  Have a reverse, have a reversal of the state legislators at the Democrats, the young people are not gonna vote Republican.
• 41:04
  And there's way more of them than there are white males over 50 that vote Republican.
• 41:10
  White liberal women are voting these kind of people into absolute positions of power.
• 41:17
  So let's keep going here.
• 41:19
  Who would pay?
• 41:19
  Well, let's talk about that.
• 41:22
  Billionaires with primary residences in California as of January 1st of 26.
• 41:27
  That's this year, would owe the tax in 27.
• 41:31
  So next year, probably like April or something like a normal income tax.
• 41:34
  There's an estimated 255 eligible tax payers.
• 41:38
  Okay, I was off.
• 41:39
  I think I said 225 to 235, some of that is 255.
• 41:42
  A half dozen or more high-profile tycoons relocated out of state as news of the proposed tax rolled out last year.
• 41:50
  So the number may be slightly lower.
• 41:52
  Okay, because I got 225-ish 230, kind of being the number lately.
• 41:56
  I know 11 didn't move out for sure.
• 41:58
  Those who about our who have our have reportedly relocated, include Google co-founders, Larry Page and Sergey Brennan.
• 42:00
  Have reportedly relocated, include Google co-founders Larry Page and Sergey Brand.
• 42:05
  This the tax proposal is not based on income.
• 42:06
  The tax proposal is not based on income.
• 42:08
  That's a loophole that allows billionaires to pay less in income tax than the average American.
• 42:08
  That's a loophole that allows billionaires to pay less in income tax than the average American.
• 42:13
  Rather, the proposed California tax is based on millionaires' assets, including equity holdings, often in their own companies.
• 42:13
  Rather, the proposed California tax is based on millionaires' assets, including equity holdings, often in their own companies, the impact on the most wealthy would vary widely.
• 42:21
  The impact on the most wealthy would vary widely.
• 42:24
  This is exactly what Biden and Kamala Harris would have absolutely positively installed.
• 42:24
  This is exactly what Biden and Kamala Harris would have absolutely positively installed had she won.
• 42:30
  Had he been re-elected, not re-elected, had he been reappointed and cheated and sworn in as president second term, or she was elected or cheated and sworn in.
• 42:40
  I don't know, whichever both.
• 42:42
  However, they got in there, they would have 150% done exactly this.
• 42:49
  The unrealized capital gains tax, or better known as a wealth tax.
• 42:55
  So give me an example.
• 42:59
  The tax foundation, a right leaning tax policy nonprofit projected that the tax would render Tony She or Shu, the founder of DoorDash bankrupt with a tax liability of 4.17 billion, unless he could challenge the initiatives asset valuation.
• 43:19
  See, that's the problem.
• 43:20
  When you have so much wealth, but you don't have the cash to pay it, it will bankrupt you.
• 43:27
  That's the point.
• 43:30
  This isn't a fairness tax one time.
• 43:34
  This is a gotcha.
• 43:36
  We own you.
• 43:37
  You will have nothing and be miserable all the way to your zeroed out savings account.
• 43:43
  That's what this is.
• 43:45
  This is by design.
• 43:48
  This is one of the most progressive communist tax bills.
• 43:53
  That's what it is, tax bill, communist by far.
• 43:56
  In the history, probably of the world, of the world.
• 44:02
  I mean, they don't even do this in England, which has some of the most progressive highest tax rates and uh, I don't even want to call it, but kind of the communist manifesto of taxation that's been implemented for years.
• 44:16
  So I just I just want to make sure we're really clear about this.
• 44:19
  And that is this bill, okay, the Institute on Taxation and Economic Policy, which is a left leading thing thing, because we already got the first part in there, but right leaning, support the California billionaire tax, saying that the one big beautiful bill act cut health care and food support and part to pay for tax cuts for the very wealthiest Americans.
• 44:41
  Whoa, whoa, whoa, whoa, whoa, wait a second.
• 44:42
  Hold on.
• 44:45
  Hold on.
• 44:48
  That legislation supposedly gives more than one trillion of tax savings to the richest one percent household to the next decade.
• 44:55
  Hang on a sec.
• 44:57
  That's not true.
• 44:59
  You have to earn that tax, that that tax cut.
• 45:03
  You have to create industry, products, services, revenue, taxes.
• 45:09
  It's not like they just hand you a tax.
• 45:11
  It goes in and applies across multiple different business facets and business kind of small business, the Latinos, the men and women that come here legally that work hard to start a business.
• 45:23
  I don't care if it's a Mexican restaurant or it's a spaceship, and you're building rockets.
• 45:30
  The big beautiful bill was a wonderful bill.
• 45:35
  And it was a creator of jobs.
• 45:37
  It's a creator and cutter of red tape.
• 45:40
  Uh, but it created huge opportunities for the Latino small small business community.
• 45:45
  I know this.
• 45:45
  I was on a show with the gentleman who runs the uh small business chamber of commerce for Latinos, wonderful guy, very smart guy, Democrat, hardcore Democrat, but he goes, look, I gotta tell you, the BBV, the big beautiful bill was an amazing bill that's going to help the small business Latino owner.
• 46:02
  I know, I saw it.
• 46:03
  He talked about it.
• 46:03
  I saw it, it was right.
• 46:05
  So it helps, but you got to earn it.
• 46:08
  If I earn a million dollars or 10 million dollars, then my taxes may have been gone down a little bit, but the money that you earned was generating a GDP return.
• 46:17
  In other words, it's part of the ecosystem.
• 46:19
  So the ITEP, which is you know, the left side, added in the analysis that ultra-wealthy households have many ways to enjoy a lavish lifestyle without selling most of their holdings.
• 46:32
  And so they can largely avoid the individual income tax.
• 46:35
  Hold on.
• 46:37
  If they're enjoying many ways to enjoy a lavish lifestyle, they're spending money.
• 46:46
  Now, we could have all of these wonderful tech companies, Meta, Google, Amazon, Apple, be formated and relocated to South Korea.
• 46:56
  And the benefit is our money would go over there to buy the products that we now buy here and stays here.
• 47:02
  I mean, people are stupid to not realize that when you cut taxes, you increase tax revenue.
• 47:11
  I'll give you an example.
• 47:12
  I'm just going to do a very simple logical example.
• 47:18
  If President Trump says, you know, we're going to have a flat tax of 10% across the board.
• 47:24
  That's it.
• 47:25
  Just 10%.
• 47:27
  Anybody making over, let's say 100,000.
• 47:30
  Anybody making under 100,000, you pay no income tax to the federal level.
• 47:35
  Really, you don't.
• 47:36
  You pay none.
• 47:37
  You do the math.
• 47:39
  Do you know that nobody would cheat?
• 47:40
  We lose an annual estimate of a trillion dollars a year in tax revenue from cheaters or just the competent people.
• 47:48
  Sometimes I shouldn't say it's all cheaters.
• 47:50
  Some people just do their taxes wrong or they underestimate.
• 47:53
  And it might be legitimate.
• 47:55
  Oh, I just didn't know.
• 47:56
  And that's okay.
• 47:56
  There's going to be a portion of those people out there.
• 47:58
  Most people should not be penalized.
• 47:59
  The IRS should just point out the issue and work with them.
• 48:02
  I'm a believer in communicative solving solutions rather than being, you know, hard, hard ass about it.
• 48:09
  And so, but for the ones who do cheat, which is about a trillion dollars.
• 48:12
  That's the cheating number.
• 48:14
  If you lower their their liability to just 10% or 15, let's say, or even 20, just 20 across the board, limitations on some of the deductions, but you increase the deductions for like heavy equipment that's 100% made in America or made American products.
• 48:28
  I can mathematically show you in 20 to 25 years, not only are we not deficit spending, we'll cut the debt in half.
• 48:36
  Our bonds will skyrocket, our rates will drop.
• 48:39
  Our business model will go to seven, eight, 10% GDP.
• 48:43
  It would.
• 48:43
  It would literally do that.
• 48:45
  I said it before.
• 48:46
  It's just math.
• 48:47
  Our tax code is too complex.
• 48:49
  But in the meantime, until that day happens, you can't go out there and penalize these guys, whether you like their politics or not, whether you like their lifestyle or not.
• 48:58
  Who cares?
• 48:59
  They're creating jobs.
• 49:00
  Creating jobs, and you're going out there and you're pulling, you're you're pulling money from them because you want to fund programs in California or in America.
• 49:02
  And you're going out there and you're pulling, you're you're pulling money from them because you want to fund programs in California or in America.
• 49:12
  This thing goes nationwide, which it will eventually.
• 49:12
  This thing goes nationwide, which it will eventually.
• 49:15
  Programs for people, a lot of them can work.
• 49:15
  Programs for people, a lot of them can work.
• 49:19
  A lot of them are here illegally.
• 49:19
  A lot of them are here illegally.
• 49:21
  A lot of our own citizens don't have these kind of benefits.
• 49:21
  A lot of our own citizens don't have these kind of benefits.
• 49:24
  And you're penalizing them by offering it to other non citizens or citizens that are capable of working.
• 49:24
  And you're penalizing them by offering it to other non-citizens or citizens that are capable of working, and you're penalizing the people by the very definition, the job creators.
• 49:36
  You think that's fair?
• 49:39
  You know, think about this.
• 49:41
  The national tax that they call this thing.
• 49:43
  Well, here I mean, let me give you a Bernie Sanders quote.
• 49:46
  Oh, this is good.
• 49:46
  Oh, good old Bernie.
• 49:48
  You want to feel the burn, put Bernie Sanders in charge of this kind of stuff as president back in 16.
• 49:54
  Thank goodness there was some madness to the method, and we kept Bernie Sanders out from getting the Democratic nomination because they wanted that Hillary cut a deal with Obama that she would stand down.
• 50:07
  Okay, she would stand down later, of course, but she wanted the nomination in 16.
• 50:11
  They took it from Bernie, gave it to Hillary.
• 50:13
  When she didn't win, she was going to go run against Obama.
• 50:15
  He's like, Oh, I'm Trump again.
• 50:17
  And he's like, No, no, no, no, no, no, no, no, we're not doing that.
• 50:18
  Hold on, hold on, Tiger.
• 50:20
  Hold on.
• 50:21
  She wanted it when to go up against Obama back in the day.
• 50:24
  He goes, No, I'll make it secondary state.
• 50:26
  She wanted it desperately in 16 to go up against Trump.
• 50:29
  She would have won.
• 50:30
  They stripped the nomination from Bernie.
• 50:32
  He was going to get it.
• 50:33
  He was so popular.
• 50:34
  So let's talk about that.
• 50:36
  Senator Bernie Sanders has been a long advocate for a national wealth tax.
• 50:40
  His make billionaires pay their fair share act, co-sponsored by a nobody, you're going to love this by rep Rokana, Democrat from California, is the latest effort introduced in March of 20 this year.
• 50:54
  Yeah, just last month.
• 50:55
  The national tax would levy a 5% annual, not one-time tax on the estimated 938 billion in the US.
• 51:02
  This is his national one.
• 51:04
  Okay.
• 51:06
  Not one time, but rather it, well, first of all, let me get back to this.
• 51:10
  The national tax would levy a 5% annual, not one-time tax on the estimated 938 billionaires in the United States, estimated to raise 4.4 trillion dollars over the next 10 years.
• 51:21
  You're sucking that right out of the economy.
• 51:22
  In the first year, the bill would give a $3,000 payment to every man, woman, and child in a household earning less than 150,000.
• 51:29
  That bill is pending.
• 51:31
  I'm going to tell you something.
• 51:32
  Listen to me carefully.
• 51:33
  If we lose the White House, the Senate, and the House of Representatives in 28th, which there's a likelihood we could.
• 51:41
  It's highly probable.
• 51:43
  This is 100% the law of the land.
• 51:47
  Remove the filibuster, that's the Supreme Court, change voting laws, national wealth tax.
• 51:52
  100%.
• 51:54
  Do not be mistaken.
• 51:57
  If this passes in November, I think this thing is going to pass because I'm going to tell you why.
• 52:04
  You're not going to like this, but I'm going to tell you why.
• 52:07
  It got 1.5 million signatures, and 99% of Californians do not pay, and they do not have to have any of this hit their pocketbook.
• 52:22
  Zero.
• 52:23
  Why not?
• 52:24
  Let's make a guy worth 250 billion dollars pay.
• 52:27
  You understand?
• 52:28
  We're talking three or four billion dollars, okay?
• 52:32
  I mean, if you were 250 billion and 5%, he might pay 12 to 15 billion, could pay 20 billion because he's got to sell assets.
• 52:39
  I mean, this is insane.
• 52:40
  This is the beginning of communism with right in your face, right in your face.
• 52:48
  Anyone who tells you that this is a good bill, that this bill should go through, is nothing more than somebody who's either jealous, vindictive, donated their brain to science in recent years, or reads braille because they can't see the deficiencies and how bad this is going to cost both California and the federal government.
• 53:10
  And I didn't mean no disrespect to blind people.
• 53:11
  I'm talking about these guys are blind to understand the economics, the economics of what we're speaking to here.
• 53:18
  This is not only crazy scary, but it is 100% out of control.
• 53:27
  I would say the likelihood of this passing is 75% at this point.
• 53:33
  If they get 3 million signatures, it's going to pass.
• 53:35
  And we'll know a little bit about that.
• 53:37
  There'll be some talk about it.
• 53:38
  Now, Gavin Newsom has threatened to veto this saying this is crazy.
• 53:41
  Well, Gavin, I got good news and bad news.
• 53:43
  We've talked before, man.
• 53:44
  When you and I have had dinner together, and let me tell you something, I just saw you recently here too.
• 53:48
  Didn't have a chance to really state my peace of mind and to help you a little bit on some of your uh other initiatives that you need help with.
• 53:56
  California needs a lot of help.
• 53:57
  A lot of help.
• 54:00
  But I can say this.
• 54:01
  If this goes through, and the legislative body is able to overrun their veto, which I think they do have the numbers.
• 54:10
  I think the numbers are there, that they could override as veto.
• 54:16
  This bill is 100% the blueprint for America and 2032.
• 54:23
  By 2032, it's a done deal.
• 54:26
  You've got California, big ranch there, farmland, Sacramento.
• 54:30
  You've got agriculture.
• 54:32
  You can go to Washington, Oregon.
• 54:33
  You got beautiful farms in Tennessee.
• 54:36
  You've got farms all around the Midwest in the central parts of America from Iowa, Minnesota down to Texas.
• 54:43
  They will find a way.
• 54:45
  They're already finding ways to turn the most red districts and red states purple.
• 54:51
  They're moving Democrats, they're moving hard-carrying communists into districts and they're moving in religious people.
• 55:00
  The whole Muslim thing is blowing up in Texas, New York, New Jersey, California, Oklahoma, Florida.
• 55:06
  It's blowing up everywhere.
• 55:08
  And they're voting.
• 55:09
  Looking look at what happened in Texas several months ago, uh, and several months ago in Fort Worth, Texas, a local district that was Republican for over a century or over a century, went hardcore Democrat, hardcore Democrat.
• 55:26
  But for over 100 years, it was right side blue, or excuse me, red as it can be.
• 55:31
  Then it became uh purple, and then it went hardcore blue.
• 55:35
  And over 100,000 Muslims voted in this district to ensure that their democratic candidate shared their views.
• 55:41
  It was Mamdani Jr.
• 55:42
  is what it was.
• 55:43
  This cat rolled in to Texas, had his supporters, rolls in, gets voted in, and they use that as a tool to start to show the measure of the power of the of the Islamic vote.
• 55:59
  This is a force to reckon with.
• 56:00
  This is a force to reckon with.
• 56:01
  These people are not joking around.
• 56:01
  These people are not joking around.
• 56:03
  What their job is is to bring the ideology, convert people, establish organic growth through families, ministries into prisons and low-income housing and uh all the areas of which we have fatherless families in order to ensure that their religion, which is really just a political party of suppression and hate, is viable to change the political series of elections to go hard.
• 56:03
  What their job is is to bring the ideology, convert people, establish organic growth through families, ministries into prisons and low-income housing and uh all the areas of which we have fatherless families in order to ensure that their their religion, which is really just a political party of suppression and hate, is viable to change the political series of elections to go hardcore left.
• 56:31
  So I just want to thank everybody for listening.
• 56:33
  Another great show next week.
• 56:34
  I will be looking forward to it.
• 56:36
  We're going to talk more about the Iranian conflict in detail, but this California bill is insane.
• 56:41
  It's crazy.
• 56:41
  And even Stevie Wonder could probably say, I'm not for it.
• 56:45
  I can see the writing on the wall.
• 56:47
  Thank you so much for joining.
• 56:48
  I am tuning out, and we will be talking to you again in another week.
• 56:52
  Thank you so much.