♪.
NEIL: ALL RIGHT.
THEY THREATEN THEY MIGHT DO IT.
NOW INDICATIONS ARE UBER AND
LYFT, RIDE-SHARING SERVICES
COULD MAKE GOOD OWN A PROMISE TO
LEAVE CALIFORNIA BECAUSE OF NEW
REQUIREMENTS THERE THAT WILL
HAVE RIGHT NOW FREELANCE DRIVERS
TREATED AS EMPLOYEES.
THE PROBLEM FOR UBER AND LYFT,
THAT WILL BE A LOT MORE COSTLY
FOR THINGS THE BENEFITS ISSUES,
ISSUES COMING UP WITH WORKERS ON
THE PAYROLL RATHER THAN WORKING
FOR FREELANCE.
THEY MIGHT BOLT EVEN THOUGH IT
WOE BE COSTLY FOR THEM TO DO SO.
TOGETHER THE RIDE SERVICES HAVE
16% OF THE RIDE-SHARING REVENUES
THEY GENERATE NATIONALLY.
ASSEMBLYMAN KEVIN KILEY IS
TRYING TO STOP THAT FROM
HAPPENING.
A REPUBLICAN CALIFORNIA
LEGISLATOR.
HE JOINS US NOW.
ASSEMBLYMAN THANK YOU FOR TAKING
THE TIME.
THEY ARE PLANNING TO LEAVE OR DO
YOU THINK THEY ARE JUST SORT OF
TEASING THAT, WHAT DO YOU THINK?
>> NO, I THINK THIS LAW,
ASSEMBLY BILL 5 MADE IT
IMPRACTICAL FOR THEM TO OPERATE
HERE.
EVERYONE SAW THIS COMING.
WE’VE KNOWN FOR A FUEL YEAR THIS
LAW IS ABSOLUTELY DEVASTATING
NOT JUST UBER AND LYFT, HUNDREDS
OF PROFESSIONS IN CALIFORNIA.
AB-5 BANS BEING INDEPENDENT
CONTRACTOR OR WORKER, YOU HAVE
TO BE IN THE EMPLOY OF SOMEONE
ELSE.
WE HAVE UBER AND LYFT, 100,000
OF DRIVERS WILL BE OUT OF WORK.
MILLIONS OF CALIFORNIANS RELY ON
SERVICES, ANOTHER BLOW TO OUR
ECONOMY WHICH IS ALREADY DOING
ABOUT AS BAD AS ANY STATE IN THE
COUNTRY.
NEIL: THIS, AT THE SAME TIME ONE
OF YOUR COLLEAGUES, THE
DEMOCRATIC CONGRESSMAN RO
KHANNA, TOUCHED ON THE NOTION OF
TAXING WELL.
NOT JUST YOUR INCOME BUT YOUR
ASSETS THE H.
I WANT YOU TO RESPOND TO THIS.
HE WAS ON ME LAST WEEK.
THEY LEFT, YOU’RE STILL TAXING
THEM, THEY’RE NO LONGER
CALIFORNIA RESIDENTS.
YOU CAN’T A LEGALLY DO THAT.
>> FOR 10 YEARS THE WEALTH WAS
AACCUMULATED DURING THEIR TIME
IN CALIFORNIA, DURING THE NEXUS
THEY HAD WITH THE STATE OF
CALIFORNIA AND, THAT IS WHAT
WE’RE PROPOSING IN OUR BILL.
NEIL: I DON’T KNOW WHERE THIS
GOES, ASSEMBLYMAN, BUT I DO KNOW
SEAS IT WILL ONLY AFFECT A THIRD
OF THE TOP 1%, RAISE 7 1/2
BILLION DOLLARS FOR THE STATE
YOU CAN USE BUT NEW WRINKLE ON
IT IS THAT EVEN IF THEY BOLT, HE
WILL GO AFTER THEM UP TO 10
YEARS ON ASSETS THAT HAVE LEFT
THE STATE BECAUSE A LOT OF THOSE
ASSETS WERE RAISED AND GAINED
AND SCORED IN CALIFORNIA.
CAN HE DO THAT?
>> NO.
THAT IS PLAINLY
UNCONSTITUTIONAL.
WHEN YOU THINK ABOUT IT, WHEN A
BILL ACTUALLY EXPLICITLY
CONTEMPLATES IN ITS OWN -- THE
EFFECT OF THE BILL IS GOING TO
BE FOR CITIZENS TO LEAVE THE
STATE, MAYBE THAT IS A SIGN IT
IS NOT A VERY GOOD IDEA.
THE WEALTH TAX HAS BEEN TRIED IN
EUROPEAN COUNTRIES.
IT HAS BEEN ABANDONED.
CALIFORNIA USED TO BE THE
BIRTHPLACE OF NEW IDEAS.
NOW IT IS BECOME THE GRAVEYARD
OF FAILED ONES.
BY THE WAY THE WEALTH TAX
PROPOSAL IS IN ADDITION TO RAISE
THE INCOME TAX MORE THAN EVER.
TO RAISE PROPERTY TAXES MORE
THAN EVER.
ONLY IN CALIFORNIA WILL WE BE
PROPOSING THE BIGGEST TAX
INCREASE EVER DURING THE BIGGEST
ECONOMIC COLLAPSE WE’VE EVER
HAD.
NEIL: WHERE IS IT GOING?
YOU HAVE A PAR BETTER READ THAN
I DO IN YOUR STATE.
I.
I HEARD EXPERTS NOT DISMISSING
IT OUT OF HAND?
>> RIGHT.
I THINK THIS WEALTH TAX MAY
PROVE TO BE A BRIDGE TOO FAR FOR
EVEN CALIFORNIA.
EVEN GOVERNOR NEWSOM WAS QUITE
SKEPTICAL OF IT IN HIS PRESS
CONFERENCE FEW DAYS AGO WHEN HE
WAS ASKED ABOUT IT.
WE HAVE TO PUT IT IN THE CONTEXT
IN THE STATE EVEN BEFORE
COVID-19.
A SURVEY SHOWED 63% OF
CALIFORNIAS ARE CONSIDERING
LEAVING THE STATE.
THINK ABOUT THAT.
THAT IS FAILED STATE WHEN OVER
HALF OF YOUR PEOPLE WANT OUT.
BECAUSE OF LEGISLATION LIKE
THIS, THAT MAKES IT SO DIFFICULT
FOR FOLKS TO BE THERE.
THIS IS TARGETED AT THE WEALTHY.
THAT IS WHERE IT STARTS.
YOU LOOK PEOPLE LEAVING
CALIFORNIA, ARE LEAVING
CALIFORNIA, I LOSE CONSTITUENTS
EVERY DAY.
IT IS NOT JUST WEALTHY FOLKS.
PEOPLE ON PART OF WORKING CLASS
WHO CANNOT GET BY HERE WITH THE
COST OF LIVING AND LOSS OF
ECONOMIC OPPORTUNITY BECAUSE OF