Posted on 07/06/2018 2:11:38 PM PDT by EdnaMode
You must live in my neck of the woods.
I’m NEARLY a millionaire on paper but I don’t make $1MM/year... there’s a difference in income and net worth.
I keep thinking that the libs will move inward until such time as the conservatives move outward and then we’ll just cut them off close in and throttle em....ah... fantasies... they keep a man sane....
California’s Not the Place to be.so Load ‘Em up the Truck and MOVE OUT OF BEVERLY; Hills that IS.
“IIRC there are about 2,500 California state income tax returns that pay about 90% of the California state income tax collected.”
87 billion personal income tax was collected in california in 2017 ... .9 of that is 78.3 billion
figuring all of that is taxed at the top rate of 13.4%, then those 2,500 tax payers had a combined taxable income of 584 billion.
that seem very unlikely, particularly given that the top 1% of taxpayers paid only 48% of the total income tax:
“The latest figures have just been released, and the top 1% paid nearly half — 48% — of the state’s personal income taxes in 2014.”
http://www.latimes.com/politics/la-pol-sac-skelton-bernie-sanders-tax-revenue-20160502-story.html#
Going to Colorado may not be that much of an improvement. The Centennial State has a flat income tax rate of 4.63%, and one of the lowest statewide sales taxes in the country, at just 2.9%. However, because of numerous additional county and city sales taxes, actual combined rates can be as high as 10.4%. When considering these local taxes, the average Colorado sales tax rate is almost 7.5%, 15th highest in the country. Not much of an improvement, is it.
And when you talk about high earners, they also have a lot of investments in other states that most states don’t tax as it is not earned within the state borders. Not in Colorado. If you make it, you pay taxes on it as long as you are a citizen of the state. And if you move to another state, and remain a Colorado resident, you will pay Colorado taxes on your income in another state on anything earned. The long arm of the taxman.
rwood
“Being a millionaire doesn’t mean that much today. I have a net worth of over a million, and I still buy at thrift stores.”
same here. and one of the reasons i have a good net worth ... and i’m not cheap by any stretch of the imagination ... i just like good value and do not believe in paying more than i reasonably have to for most things ...
“We moved in ‘14 and took my wife’s Calpers pension with us. I’m still working and now paying 2.3% in state taxes, not the 9% we paid in California”
perfect ... take that pension and run ... to a less expensive state ...
“state sent me threatening letters”
california sent me threatening letters for years about some parking ticket i had supposedly gotten for parking a couple of hours in a rental car in the wrong color parking lot at some university ... i use to laugh and tear them up ... yeah, right, a fricking RENTAL car with me living in another state ...
“No, they’re moving to Northern Colorado and becoming born again mountain men in skinny jeans and nose rings.”
and 99% of those S.O.Bs vote Dem when they more here ... they’re ruined our beautiful state, which used to be quite conservative ...
“I’m NEARLY a millionaire on paper but I don’t make $1MM/year... there’s a difference in income and net worth.”
YUGE difference ... i have a high net worth too, even a high liquid net worth, but don’t have much income any more, which btw, i like because i don’t pay squat in income taxes anymore ...
Why should we give up the high (best) ground without one heck of a fight???
Most of those ‘starbucks people’ would just injure themselves severely trying to get the ground to produce something worth eating
"Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” —Justice John Marshall, Gibbons v. Ogden, 1824.
Well..... not all of us are on ‘high’ ground.... I saw it more of an encirclement action and cutting off their supply lines....
The next rat California governor will probably declare residency in Nevada. Communists do not have to necessarily live in the provinces they govern.
Well isn’t that wonderful!? That’ll collapse house prices real quickly if it gets proposed, seriously discussed in the legislature or is passed. That’s one way to get rid of California real estate millionaires.
Hopefully these millionaires emigrated to New England or any other foreign country...Otherwise the old maxim comes into play: It only takes one bad apple to spoil the bunch...Keep them out of any American state...
Nashville used to be great. Now it is full of liberal transplants!
It is a very racist state.
It is a sexist state.
Colorado is a bigoted homophobic state.
Liberals should move to Illinois.
when the gimme class overtaxes the rich, the rich move and the gimme class remains the gimme class, with even less funding. One would think after centuries of such a pattern, leaders would buy a clue.
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