Skip to comments.Fleeing California Taxes? Get In Line (Leaving is not that easy)
Posted on 01/21/2013 7:24:08 PM PST by SeekAndFind
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Limbaugh chronicled how difficult it was for him to leave NY. It took years to get out of their hooks.
You think checking out of California is hard?
Try checking out of the US of A...
Gerard Depardieu had it easier leaving France.
Here’s one Californian who is going to learn his lesson the HARD WAY:
Phil Mickelson hints tax changes may spur career change.
On the day President Obama was sworn in for his second term, [top professional golfer Phil] Mickelson sent shock waves through the Humana Challenge when he said the political landscape in the United States was causing him to seriously contemplate his future in golf.
If you add up all the federal and you look at the disability and the unemployment and the Social Security and state, my tax rate is 62, 63 percent, Mickelson said. So Ive got to make some decisions on what to do.
In December, Mickelson, who was part of a group that had bought the San Diego Padres four months earlier, abruptly announced that he was no longer involved in the business deal. His reversal came shortly after California voters approved Proposition 30, which imposed a 13.3 percent tax rate on incomes of more than $1 million.
Asked Sunday if the election results played a role in his decision to sever his ties with the Padres ownership group, Mickelson replied, Yeah, absolutely.
This is why progressives despise federalism. What good is having complete power in one state if people can just move to some other state.
RE: What good is having complete power in one state if people can just move to some other state.
Speaking of Federalism — Does California impose an EXIT TAX to those who plan to leave (i.e., no longer want to reside in) the state?
“Too Liberal: 1%
Heck, it’s the liberalism that drives all the other indicators!
I’m wondering about Panama - #2 on International Living’s Best Countries to Retire.
So what are the problems with getting out of here?
Interesting stats...thanks for posting!
Shouldn’t “Too Liberal” be “All of the Above”? LOL
RE: So what are the problems with getting out of here?
1) Are you planning on relinquishing US citizenship? It isn’t that simple. You have the IRS to deal with.
2) Are you planning to make money in Panama? ( say, rent out a property )? You will of course have to report that income to the IRS.
American is one of a handful of countries that TAXES citizens on income from ALL POSSIBLE SOURCES.
If you are a German living and working in the US, you are not required to file the income you make in the US to the German tax office. If on the other hand, you are an American living and working in Germany, YOU ARE REQUIRED to report your income in Germany for taxation purposes.
In fact, I know of green card holders who became citizens later who left their country of origin and by some good fortune, inherited property or money from a dead relative from that country. THEY ARE REQUIRED TO INFORM THE IRS OF THAT.
I’m heading to the Philippines like some Freepers. Former American territory, kids were taught English the same time as tagalog and the newspapers are mostly in English. I also have dibs on a condo in the financial district and only paid 25K for the 27th floor (yeah, that cheap). The traffic though, is one of the worst.
“Mr. Obama, tear down this wall.”
That’s talking to a brick wall :)
Are they still putting forth the idea of splitting CA into two states? I think the Northern population was pushing for it a while ago, but of course, the southern half needs the revenues to support the illegal population.