Latest Breaking News

Tech billionaires also have contempt for democracy itself. They are outspoken about replacing it with an authoritarian oligarchy.

This tax offends them because it implies they should be subject to laws passed democratically by ordinary citizens. They would prefer to rule over us without restraint.

It's not the small amount they would pay that is at issue - they object to being held the least bit accountable accountable by citizens.

They say so openly and at length. Writings urging the replacement of democracy have been openly published. For example Marc Andreesen's "Techno-Optimist Manifesto" :

...By late 2023, Andreessen, formerly a supporter of the Democratic Party, was said to have grown politically disillusioned with the Biden administration due to the volatility in the technology space for venture capitalists. The new environment was attributed to the imposition of antitrust laws on the tech sector and a renewed push for regulation of cryptocurrency, a sector in which Andreessen Horowitz was deeply invested in as a firm. The added scrutiny given to the tech sector in the wake of the Bankman-Fried scandal was also a contributing factor to Andreessen's newfound thinking. According to The New York Times, Biden's proposed "billionaire minimum income tax" led Andreessen to shift his political alliances to the Trump campaign.[8] In October, Andreessen composed his thoughts and posted the "Techno-Optimist Manifesto" essay online.[13] Dwarkesh Patel, who had previously interviewed Andreessen at the beginning of the year, responded to the manifesto with criticism and counterarguments, leading Andreessen to permanently block Patel on Twitter.
...
The manifesto pays homage to the Manifesto of Futurism (1909) by Italian poet Filippo Tommaso Marinetti (1876–1944), who would go on to co-author the Fascist Manifesto a decade later, which was used to describe the political platform of Benito Mussolini. In one part, Andreessen rewords Marinetti's manifesto[β] in the context of technology, writing "Beauty exists only in struggle. There is no masterpiece that has not an aggressive character. Technology must be a violent assault on the forces of the unknown, to force them to bow before man."[16] Andreessen ends the manifesto with a list of self-declared patron saints of techno-optimism, with Marinetti taking his place alongside philosopher Friedrich Nietzsche, the fictional character of John Galt, and the neo-reactionary philosopher Nick Land, among others

- Wikipedia, with my bolding

Someone who openly admires Italians Futurists who were the backbone of Italian Fascism is not someone who will accept what we consider to be democracy, civil liberties, dues process and other traditional American values.