Proposition 30, the controversial measure passed by voters in the November election. Sold as a solution to save the states financially strapped education system, the law retroactively hikes the top marginal rate by 29.13% to 13.3% of income, including capital gains, on those in the highest tax brackets.
So Phil Mickelson has to pay --
- 13.3% of income to the State of California
- or pay 0% of income to the State of Florida if he moves there
- Tennessee and a few other states also have no income tax
- Five years ago economist Arthur Laffer (Laffer Curve) left California for Tennessee
- Rush Limbaugh moved to Florida years ago
posted on 01/22/2013 2:46:40 PM PST
(The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
...but professional athletes, TV and radio personalities all get the privilege of paying state taxes on anything they earn in that particular state.
I’ve heard that Rush Limbaugh has been audited by the State of New York for something like 12 consecutive years - apparently, they want to bet their pound of flesh for every time he steps foot up there.
The large company I work for is starting to insist that we pay state income taxes to other states for every day that we’re there on business. They’re even taking it to the extreme that we are supposed to declare that in advance.
posted on 01/22/2013 2:56:53 PM PST
(Liars use facts when the truth doesn't suit their purposes.)
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