Heads up on California's Billionaire Tax Act—it's way harsher than people realize. This isn't just about unrealized gains. What we're actually looking at is a flat 5% wealth confiscation, straight across the board. Here's the kicker: it applies regardless of whether you've already realized those gains and paid taxes on them. So you could end up getting taxed twice on the same assets. That's the real issue investors need to understand.