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There is a delicious irony in the fact that something like 20% of Bay Area real estate deals are from Chinese citizens exfiltrating their wealth from a hostile Communist regime—who end up having wealth expropriated by the People's Republic of Californiahttps://www.sfgate.com/business/networth/article/How-and-why-buyers-from-China-are-snatching-up-5924991.php …
Oh, the Chinese-owned SF real estate is untouchable under these proposed taxes. It's truly unreal.
Wait what why how
It doesn't cover real estate assets at all. It *will* kick in, however, if you *spend time* in the place you own in CA, which will presumably have interesting effects on the Oprah/Tiger Woods class of non-domiciled with second homes in Montecito/Newport Beach
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