Free Republic

Finance expert John Williams has recently analyzed California's new tax policies, which include the introduction of a wealth tax targeting affluent residents and an exit tax for those relocating out of the state.

New Jersey's wealthiest man may be making a common Northeast move: a relocation to the tax-friendly state of Florida, a report says. According to Bloomberg, David Tepper has shifted the base of his Appaloosa Management to the Sunshine State as of Jan. 1 after registering to vote and declaring citizenship in Miami at the end of 2015. Taxes were reportedly an important part of the 58-year-old's decision, but also, quality-of-life played big part in his choice to move, according to the article. Tepper has been a resident of the Garden State for more than two decades and has continually appeared...

Earlier today, I linked to a Christian Science Monitor report that the firearms industry had begun to organize in opposition to the recent push for increased gun control, but that the major manufacturers had not yet committed themselves. That situation has changed, reports the Washington Post, at least in Maryland, where Beretta makes it home --- at least for now. The company has begun considering a relocation of its headquarters to a state where its product hasn't been made illegal, and may take hundreds of jobs with them: Beretta, the nearly 500-year-old family-owned company that made one of James BondÂ’s...

Senators to Unveil the ‘Ex-Patriot Act’ to Respond to Facebook’s Saverin’s Tax ‘Scheme’ Sen. Chuck Schumer, D-N.Y., has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again. In September 2011, Saverin relinquished his U.S. citizenship before the company announced its planned initial public offering of stock, which will debut this week. The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public. Saverin would reap...

Excerpt from article (since I am not sure what the reprint rules are ... [Rangel] slipped this horrendous tax into a popular military and veterans pension/pay bill, (without hearings or public notice) and on June 4, 2008, President Bush, not wanting to upset the veterans' lobby, signed it into law. The Rangel exit tax presumes that anyone who ends his or her U.S. citizenship and; (1) who paid more than $124,000 in net taxes for the previous five years, or (2) has a net worth of more than $2 million, is a tax traitor who did so with the intent...

Earlier this month, a California activist began gathering signatures to put a state wealth tax on the ballot. The measure would impose a new 35% income surtax (in addition to federal taxes and the existing 10.3% top state rate), and penalize people who leave the state by seizing 55% of assets exceeding $20 million. The money raised would be used to eliminate the state's budget deficit and for purchasing controlling shares in large corporations. The 17.5% surtax is unusual because it would be on a taxpayer's total (not marginal) income whenever it exceeds $250,000, with another additional 17.5 percent tax...

Earlier this month, a California activist began gathering signatures to put a state wealth tax on the ballot. The measure would impose a new 35% income surtax (in addition to federal taxes and the existing 10.3% top state rate), and penalize people who leave the state by seizing 55% of assets exceeding $20 million. The money raised would be used to eliminate the state's budget deficit and for purchasing controlling shares in large corporations. The 17.5% surtax is unusual because it would be on a taxpayer's total (not marginal) income whenever it exceeds $250,000, with another additional 17.5 percent tax...