Posted on 04/24/2024 10:07:01 AM PDT by MtnClimber
Voting with your feet and fleeing the policies of the Democrat left? Now, there’s a fine for that.
When does the tarring and feathering start?
You didn’t vote for this garbage, but your useful idiot neighbors did, so now you’ve decided to pack up and head to a state with lighter tax burdens (still a burden, but nonetheless more doable), where the government isn’t prioritizing “trans-ing” your child behind your back and threatening to sever the parental relationship if you get in the way; where prosecutors won’t come after you if you’re forced to defend yourself (or others, as in the case of Daniel Penny) against the aggression of a violent criminal; and where illegal invaders aren’t treated like royalty, all on your dime. Well, now there’s a fine for that. Introducing… the “Exit Tax.”
You think you’re just going to emancipate yourself from the tyranny of Democrat-run jurisdictions and flee to a friendlier locale? Bless your heart. Here’s the story, from a new report out at Fox News just this morning:
Ready to pick up and move to another state? Well, you might have to think twice because broke blue states are coming up with a new, creative way to tax you when you cross the border: the EXIT TAX.
This policy is already established in one state—if you guessed California, you’d be correct— but other debt-saddled Democrat states are looking to follow suit. (If you weren’t up to speed, California is facing a historic deficit in the tens of billions.) Now, while the government calls this a “tax” it’s obviously not a tax at all, but a fine, penalizing a producer for rejecting the policies of the progressive Democrat party, the same ones turning everything they touch into a dystopian and apocalyptic landfill.
(Excerpt) Read more at americanthinker.com ...
Sell your business. Then put enough of your assets in a trust (preferably overseas). Then viola! You don’t have the assets in your name to qualify.
“This EXIT TAX follows you to another state for up to 10 years.”
This will get shot down. No way in hell California will be allowed to tax a rich guy who moves to Texas for the next 10 years after he departs. And if you refuse, what are they going to do if the new state refuses to enforce their enforcement efforts?
This is very ripe for a supreme court challenge.
"Socialism works just fine until you run out of other people's money."
This exit tax sounds like a way to get the last dregs of 'other people's money.'
Hawaii does an exit tax on sale of real estate. They take it out of escrow before you see any profit.
“... for the greater good.”
~~~
OH! I bet the greedy goons in DC can’t stand that 401ks aren’t in their revenue pot like social security and medicare payroll withholding collections are, and which they spend on everything else besides medicare and social security, all “for the greater good” of course.
To marxists, “greater good” = whatever makes the state administrators happy
Has step one even been taken?
I seem to recall that California, at one time, required people who earned their retirement in California to pay California State Income Tax, even when they lived in another State. Eventually, the issue was taken up by the Supremes and it was declared unconstitutional.
.
> And if you refuse, what are they going to do if the new state refuses to enforce their enforcement efforts? <
If I recall correctly (and I could be wrong), California tried this once before. Let’s say you moved to Texas. And you have a Chase bank account. California would go to a California branch of Chase with a court order, and try to seize your money that way.
Again, I could be wrong. But that’s how I remember it.
You missed the tax is for those over 30 million dollars part……
Taxing citizens that are no longer citizens should be unconstitutional. It’s taxation without representation.
Taxing people who have left your state, interferes with interstate commerce, and therefore should be regulated by the Federal Government.
States don’t have the right, IMHO, to tax people who are becoming citizens in another states. That should be reviewed by the SCOTUS, but the first thing that should happen is that the almighty FedGov should pull the interstate commerce act on them.
So California believes those assets belong to them and the individual must compensate California for their loss?
They don’t need to raid 401k’s - that’s what inflation is for.
The exit tax is 0.4% of an individual’s net worth over $30 million in a tax year, no matter where it’s located -- within California, other states within the U.S. or overseas. This amount is halved to $15 million if a married taxpayer files a separate return to their spouse. This EXIT TAX follows you to another state for up to 10 years.
There is no constitutional basis for this.
Just because you have over 30 million after already paying taxes does not mean that a large chunk of it belongs to the marxists that are making you miserable.
What is a business worth? A marxist state can make up a number for 10 years of make believe profits and charge you for that.
good luck in collecting it once someone has established residency in another state ...
California has no jurisdiction in Nevada. And a California resident is just that. He is not a “subject” of California. California is not a sovereign government. I doubt any law like that would survive a challenge.
Yes. Kalif demanded that the Nevada AG help collect these “source taxes.” The Nevada AG told Kalif to go pound sand.
This one is true. CA DOJ agents were following/surveilling patrons of the Shotgun News big show in Reno who had CA license plates and were pulling them over once crossing back to CA.
No it would not survive a challenge. The question is did I read the law correctly? I’m not a lawyer but it seemed to be written in such a way as to follow Californians all over the earth. I may be wrong.
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