Alexis Ohanian Says Taxing Unrealized Gains Isn't The Answer To Growing Wealth Gap, Reddit Co-Founder Slams California's Proposed Billionaire Tax
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Reddit Inc. (NYSE:RDDT) co-founder Alexis Ohanian has slammed California’s proposed 5% billionaire wealth tax, warning that it could be an expensive mistake, especially for the state’s startup economy.
Taxing ‘Unrealized Gains’ Not The Solution
On Sunday, in a pair of posts on X, Ohanian acknowledged that the widening “wealth gap” presents a fundamental challenge for society, something that needs to be addressed to “preserve our republic.”
See Also: Chamath Palihapitiya Warns California Wealth Tax Could Crush Startup Founders: ‘It Will Kill Entrepreneurship In California’
However, he added that “the answer is definitely not taxing unrealized gains,” which is being proposed as a ballot measure in California. Known as the 2026 Billionaire Tax Act, it seeks to impose a one-time 5% levy on the
Taxing ‘Unrealized Gains’ Not The Solution
On Sunday, in a pair of posts on X, Ohanian acknowledged that the widening “wealth gap” presents a fundamental challenge for society, something that needs to be addressed to “preserve our republic.”
See Also: Chamath Palihapitiya Warns California Wealth Tax Could Crush Startup Founders: ‘It Will Kill Entrepreneurship In California’
However, he added that “the answer is definitely not taxing unrealized gains,” which is being proposed as a ballot measure in California. Known as the 2026 Billionaire Tax Act, it seeks to impose a one-time 5% levy on the
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