California Democrats consider wealth tax — including for people who moved out of state

[anatta]

you can check out anytime you want, but your money can never leave

California Democrats consider wealth tax — including for people who moved out of state

California Democrats introduced legislation that would impose a new tax on wealthy residents — even if they've already moved out of the state.

www.foxnews.com

The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere.

Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state.

California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more.

 

[Mycroft]

you can check out anytime you want, but your money can never leave

California Democrats consider wealth tax — including for people who moved out of state

California Democrats introduced legislation that would impose a new tax on wealthy residents — even if they've already moved out of the state.

www.foxnews.com

The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere.

Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state.

California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more.

What they are going to find is a lot of wealthy people will pay their current wealth tax bill in full and then take their wealth OUT of the state.

No more money for the state.

Are those liberal politicians too stupid to do research? France enacted a wealth tax some years ago...it didn't last long.

 

[Glitch]

This is nothing new for California, and it doesn't just apply to the wealthy.

Since I knew I was leaving the State of California in April 1991 I made certain not to pay any California income taxes for 1990 or 1991. I could do this because I was self-employed and had to estimate my taxes quarterly. I properly estimated my taxes, as required, and paid the IRS what I owed, and never paid California a single penny in tax.

For years California tried to collect the back taxes that I owed them, even though I had been living in Alaska since May of 1991. Californians are pretty damn stupid to think anyone who does not live within the jurisdiction of the State will listen to anything they have to say on any subject.

 

[Stealers Wheel]

I don't know about this new law, but many years ago California and NY had a 'source tax' in which they taxed any pension earned in the state, even if the pensioner no longer lived in the state. Well, that was ruled unconstitutional. Something about 'taxation without representation' was the sticking point. This may be the same for a wealth tax.

It's quite simple in my mind. If I can't vote for a person who would have the power and influence to change what I don't like (a tax for example) then that jurisdiction shouldn't be able to apply their laws to me.

 

[Moi621]

you can check out anytime you want, but your money can never leave

California Democrats consider wealth tax — including for people who moved out of state

California Democrats introduced legislation that would impose a new tax on wealthy residents — even if they've already moved out of the state.

www.foxnews.com

The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere.

Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state.

California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more.

Sure
Right
Uh - huh
Take it the the bank.

How is it "Bay Area" Dynasties of
lesser voters run Southern California votes
Witness V.P. Harris rise to power

Oh The Horror


Moi

 

[lemmiwinx]

Here's a thought: Let's put a special tax on people who move out of state because of its high taxes. That should teach 'em a thing or two about avoiding state taxes.

 

[ColdHardTruth]

you can check out anytime you want, but your money can never leave

California Democrats consider wealth tax — including for people who moved out of state

California Democrats introduced legislation that would impose a new tax on wealthy residents — even if they've already moved out of the state.

www.foxnews.com

The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere.

Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state.

California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more.

Once people are out of state California has no authority to tax. They need to be told to kick rocks.

 

[NolanVoyd]

you can check out anytime you want, but your money can never leave

California Democrats consider wealth tax — including for people who moved out of state

California Democrats introduced legislation that would impose a new tax on wealthy residents — even if they've already moved out of the state.

www.foxnews.com

The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere.

Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state.

California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more.

You've got to stop using Fox as a source. It has been proven recently that they systematically and deliberately lie to their audience.

As for wealth, did you know that two thirds of America's GDP comes from blue counties?

It's a fact.

You all need to get work.

 

[AliHajiSheik]

You've got to stop using Fox as a source. It has been proven recently that they systematically and deliberately lie to their audience.

As for wealth, did you know that two thirds of America's GDP comes from blue counties?

It's a fact.

You all need to get work.

County level GDP claims, now that is an interesting take on a political irrelevancy. Since "It's a fact" as you claim, you should be able to point to a source of how these counties are identified as either "blue or red". I was able to find a source that had some kind of county level GDP so with your source and my source, we should be able to verify your "fact".

Get to work on your end.

 

[NolanVoyd]

County level GDP claims, now that is an interesting take on a political irrelevancy. Since "It's a fact" as you claim, you should be able to point to a source of how these counties are identified as either "blue or red". I was able to find a source that had some kind of county level GDP so with your source and my source, we should be able to verify your "fact".

Get to work on your end.

It's a fact.

You need to learn how to use Google

Biden-Voting Counties Equal 70% Of The U.S. Economy [Infographic]

As well as considerable political and geographical divides, the 2020 presidential election also revealed a stark economic chasm between American voters.

www.forbes.com

 

[AliHajiSheik]

It's a fact.

You need to learn how to use Google

Biden-Voting Counties Equal 70% Of The U.S. Economy [Infographic]

As well as considerable political and geographical divides, the 2020 presidential election also revealed a stark economic chasm between American voters.

www.forbes.com

Thank you for your source.

You need to learn how to function in polite society.

 

[NolanVoyd]

Thank you for your source.

You need to learn how to function in polite society.

Sorry.

I just found your post condescending.

It's hard to pick up tone in print.

I apologize.

 

[mrjurrs]

This is nothing new for California, and it doesn't just apply to the wealthy.

Since I knew I was leaving the State of California in April 1991 I made certain not to pay any California income taxes for 1990 or 1991. I could do this because I was self-employed and had to estimate my taxes quarterly. I properly estimated my taxes, as required, and paid the IRS what I owed, and never paid California a single penny in tax.

For years California tried to collect the back taxes that I owed them, even though I had been living in Alaska since May of 1991. Californians are pretty damn stupid to think anyone who does not live within the jurisdiction of the State will listen to anything they have to say on any subject.

So...you're a criminal.
And you move to a state that has the closest program to socialism, around, extraction checks.

 

[AliHajiSheik]

Sorry.

I just found your post condescending.

It's hard to pick up tone in print.

I apologize.

Thank you

 

[Maidenrules29]

This is the very definition of taxation without representation. Abhorrent.

 

[Ishm]

As income inequality continues to rise across the nation, the need to tax the top earners more will continue to grow. If income inequality was reducing rather than increasing there would be less need to tax the wealthy more. Get back to the sort of income equality that existed in the 1960s/70s and the tax picture would look quite different.

 

[Maidenrules29]

The whole income inequality thing seems overblown to me. Some people just have more gumption, smarts, and drive to be successful than others. Life isn't fair. People need to get over it. I know that we don't exactly have equality of opportunity here, but even if we did, things would probably pan out the same. Some people like Elon Musk, Warren Buffet, Bill Gates, Bezos etc, catch lightning in a bottle with an extremely popular product, service, or business savvy and become very successful. Just seems like alot of jealousy. I work hard and I'm barely middle-class, and I'm not crying about the 1%.....

 

[Maidenrules29]

You've got to stop using Fox as a source. It has been proven recently that they systematically and deliberately lie to their audience.

Not a big Fox fan, but CNN and MSNBC also lie.

 

[Maidenrules29]

As for wealth, did you know that two thirds of America's GDP comes from blue counties?

No 1. Who cares?
No 2. Thanks Captain Obvious. You don't think people know that most production comes out of areas with high population density? And that those places are overwhelmingly blue?

 

[NolanVoyd]

Not a big Fox fan, but CNN and MSNBC also lie.

Nothing even remotely like what Fox got caught doing

It's unprecedented in American history.

They systematically and deliberately lied to their audience fir months about an American Election.

From Rupert Murdochc to the CEO, to the producers, to Hannity, Carson, and Ingraham.

Just stop with the false equivalence.

It doesn't fly.

 

[NolanVoyd]

No 1. Who cares?
No 2. Thanks Captain Obvious. You don't think people know that most production comes out of areas with high population density? And that those places are overwhelmingly blue?

The conservative parts dont contribute much, and take a lot, all the while railing against liberals who pay the bills.

 

[PirateMk1]

Once people are out of state California has no authority to tax. They need to be told to kick rocks.

Tell that to New York. They seem to think otherwise. California is damn near the same way.

 

[PoS]

Thank god I left that shithole of a state years ago.

 

[Glitch]

So...you're a criminal.
And you move to a state that has the closest program to socialism, around, extraction checks.

Once again you demonstrate your vast ignorance. That is quite an accomplishment, but not surprising for an uneducated leftist.

 

[Maidenrules29]

The conservative parts dont contribute much

That's a very bold statement that you cannot back up without some research. I dont know that many Democrat farmers, do you? Also probably alot of conservative type construction company owners and other business owners ( I know a bunch ) who build lots of stuff. Almost half the country is conservative-right or non-democrat. Those people dont make anything? Hardly anyone working?