California Lawmakers Want a Wealth Tax to Soak the Rich for Living There. Also, for Leaving. The proposed tax would apply to not just wealthy residents, but anyone who is wealthy who has lived in the state for the last 10 years

Reason ^ | August 18, 2020 | Scott Shackford

[Big Red Badger]

Socialism Sucks.

[Timocrat]

Has anybody in California heard of the luxury tax that killed the boat building business in Maine?

Has anybody in California heard of Dynamic versus Static scoring of tax laws?

Has anyone in California figured out what this will do to the venture capital business in California? Do they really want to shut down every business on Sand Hill Road?

[Seruzawa]

They tried it. The USSC shot it down IIRC.

[Metrobank]

We have the highest income tax (graduated) in the country already at 13.3%. Having Democrats controlling both houses in California is just not stop taxing of anything that moves. I can’t wait to move out.

[amnestynone]

Good! since California’s wealthy citizens vote overwhelmingly Democrat and provide a major source of campaign money for same party they deserve it.

[amnestynone]

“It frustrates me to hear politicians say certain people need to “pay their fair share”.”

People who vote democrat are not paying their fair share and that is why they vote Democrat. In the last Presidential election the only economic group of Caucasians to vote Democrat were those making over 100k and the more they made over 100k the more they voted Dem. In California that is even more accelerated. People in Sanfrancisco, Hollywood, Beverly Hills and other places where you and I could never afford to live vote like ghetto welfare mothers and as such they deserve to pay more.

[Ban Draoi Marbh Draoi]

Wonder if this goof is paying his “fair share”?

It would be a hoot if a forensic accountant were to go over his finances with a fine toothed comb.

[dp0622]

lol

no, not at all.

[goodnesswins]

Used to live in portland. ...nice then (1980s to mid 90s)...haven’t been back in a few years...it looks horrible now...

[CodeToad]

Good luck Kali reaching into other States or countries and trying to claim taxes.

[Mr. Jeeves]

It frustrates me to hear politicians say certain people need to “pay their fair share”.

Politicians need to stop spending more than their fair share.

[SunkenCiv]

No, they'd loot and/or burn down everything in the state.

[vpintheak]

Good luck enforcing that. Rat-holes!

[Disambiguator]

Lately the burning seems to take care of itself.

[tinamina]

California franchise tax board will chase you down forever if you ever had a professional license in California. But they cannot put a lien on your property if it doesn’t exist in California. So sell your house before you go.

[ConservaTeen]

$57 Billion deficit? Hey, I have an idea, California, stop spending money for sex change for teens and other Looney ideas!!!

[I-ambush]

“How do we keep electing idiots?”
We let idiots vote.

[gogeo]

Assemblymember Rob Bonta (D–Oakland) is blunt about his reasons for introducing the California Wealth Tax (A.B. 2088). Rich people have money. He wants more of it to pay for and expand state services. And that's it.

How is this any different than a mugger?

"I see you have some money there. Give it to me."

[notpoliticallycorewrecked]

Fled the state last year. Put the house on the market and left before it sold. Best thing I ever did. The real estate market and the temperatures were hot. Sold the house in 21 days for way more than several real estate agents told us. Left just as the heat was hitting.

We sadly left numerous family and friends and FRiends. My heart breaks for everyone that is stuck there that wants to leave.

We now live in a great place with that is at least 10 if not 20 degrees cooler in the summer with lots of trees, rain, a little snow in the winter and lots of rivers and lakes.

[musicman]

BTTT!!!