The top 0.1% of California taxpayers payers (~17,500 people) are responsible for more than 16% of all tax revenues.

The big danger of progressive income taxation . California has to really worry if some of those 17,500 leave with 16% of the state's revenue .

This chart shows that the top 1% of California taxpayers are responsible for more than 33% of all tax dollars.

The top 0.1% of California taxpayers payers (~17,500 people) are responsible for more than 16% of all tax revenues.

The point is that only a few people, in a state… pic.twitter.com/KeFJOTKJd9

— Chamath Palihapitiya (@chamath) January 25, 2026