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

[The Antiyuppie]

This is exactly the Federal Income Tax started.

[BobL]

“They tried that (and other States did too) back in the 80s. They tried to tax retirees who moved out of the State. I remember the Calif AG sent a letter to the Nevada AG demanding the he help the Calif AG collect the taxes. The Nevada AG laughed. The USSC finally tossed it. They’ll probably do the same here.”

That was on pensions, 401k’s, and other deferred-tax vehicles (CPA talk, for those of in Rio Linda). In fact, California had set up tax offices in Las Vegas, Florida, and Texas to hunt down former residents and make them pay up.

...and that was BEFORE the state flipped hard-left.

[SunkenCiv]

"All worldwide property" of these wealthy Californians would be subject to this tax. If you park your money in real estate, farm assets, artwork, offshore funds, or a whole host of categories, they want a piece of it.

It would be cheaper to have everyone in the State Assembly snuffed..

[Jane Long]

Same with CA.

It’s worth it!! Pay the tax and just get the heck out!!

Well, maybe it will keep a few from fleeing to TX.

Is that bad?

[LegendHasIt]

"Why do the words of the Hotel California keep popping up?"

Hotel California updated for 2020.

youtube.com/watch?v=a0z5wn3S00Y

[SPDSHDW]

All good people in California should move north and form Jefferson. By any means necessary

[Disambiguator]

The electorate would replace them with members as bad or worse than before.

[goodnesswins]

Uh...Oregon’s been “conquered” already

[Big Red Badger]

Why so Expensive to Leave?
.
It’s worth it!

[Arcadian Empire]

by the wrong people

[Arcadian Empire]

Sounds good.

[meyer]

What army will they send to other states to collect?

[A strike]

Love It !

[goodnesswins]

Yeah....we know.

[MortMan]

80 quarts, with any deficit made up by their major donors (in order of magnitude).

[Arcadian Empire]

Ah, you live there.

I used to, but more than a decade ago.

Has Portland gotten as bad as it seems to have gotten?

Is it safe for Whites to walk there?

[hanamizu]

Why so Expensive to Leave?
.It’s worth it!

---

I read somewhere that the proposed wealth tax is to be collected for ten years after one leaves the state. Still might be worth it.

[MayflowerMadam]

We had heard the threat of CA instituting an “Exodus Tax” when we lived there. We escaped 10 years ago, so I guess we got out just under the wire. (I expect it’ll never happen. How can it possibly be constitutional?)

[CurlyDave]

Back in the 1990s CA tried to tax the pensions of people who had worked in CA but retired somewhere else.

That attempt was shot down by a federal law.

It looks like they are at it again.

[Sergio]

I propose a ballot initiative at the federal and state level that establishes into law that the last thing to be payed out of a federal or state budget is salaries for members of the house and senate.