David Friedberg

Sachs is going to do the Texas bounce back.

My prediction is there'll be a big meme by the end of this year called the Texas bounce back.

My prediction is there'll be a big meme by the end of this year called the Texas bounce back.

And it's a bunch of billionaires.

And it's a bunch of billionaires.

They do a little jiggy as they dance back from Texas back to California.

They do a little jiggy as they dance back from Texas back to California.

Yeah, so it's direct and implicit in those states' constitutions, or they have an amendment to the Constitution that makes it direct or implicit that you can't do a wealth tax or an asset seizure tax.

Yeah, so it's direct and implicit in those states' constitutions, or they have an amendment to the Constitution that makes it direct or implicit that you can't do a wealth tax or an asset seizure tax.

Yes, that is correct.

Yes, that is correct.

But because of some of the other state constitutions, it's implicit.

But because of some of the other state constitutions, it's implicit.

So Texas has in their constitution a prohibition on, quote, tax on wealth or net worth.

So Texas has in their constitution a prohibition on, quote, tax on wealth or net worth.

Washington has a uniformity clause which treats income as property, which bans non-uniform rates.

Washington has a uniformity clause which treats income as property, which bans non-uniform rates.

Florida's constitution bans any sort of personal tax.

Florida's constitution bans any sort of personal tax.

Pennsylvania has a strict uniformity clause, which would make it impossible to have graduated tax rates or distinguished tax rates amongst populations.