I have two words for Sacramento: Laffer Curve.
Wealthy New Yorkers who have been fleeing the misery of NYC for the sunny skies of California over the last few months might be likened to those fleeing Hiroshima for Nagasaki. Same tax mushroom cloud, different city.
Only government comes up with this plan. No notice and no chance to set aside the money for the taxpayer. Just magically come up with the money!
Other than estate taxes, income tax is the most egregious abuse of power ever devised by the representatives of a republic.
Round it up to 25%. The surplus can be used for a monorail.
Sure...We’re ALL soCIAlist$ now. Welcome to the Hotel Colliefornia. We are PROGRAMMED to receive and deceive. We’ll TAX YOU any time WE like...YOU can never leave our nursing homes.
Navin Gruesom is the band manager.
$ocialism I$ Legal Plunder - “The Law”; Frederic Bastiat
16.8 % is a small price to pay to live in a state chock full of queers, illegals, misfits, and demonrats.
“...which would apply to all assets held globally. So well-to-do Californians couldn’t even shelter their money in the Cayman Islands or Switzerland.”
You can run but you can’t hide.
According to Fox News this morning they are proposing a tax that would apply for ten years after you LEAVE the state! So moving won’t save you.
You can check out but you can never leave?
Their sole talent is making money, because at everything else, they're just obtuse and stupid. I wish they'd move to kanada.
https://www.howmoneywalks.com/irs-tax-migration/
How money walks from bad stuff
New York City in particular is seeing an exodus, according to the New York Post, which reported that people are moving out en masse amid the coronavirus pandemic and rising crime, in many cases going to other states.
Click the link below and then go to NY St, and click it. see how fast money is running from NY State.
Then, go to NY City and see how fast money is running from NYC.
https://www.howmoneywalks.com/irs-tax-migration/
https://gab.com/system/media_attachments/files/057/565/638/original/f7dcc43cc56d93fc.jpg?1597007647
California has the same potential problem as money is fleeing the state in many counties.
I read somewhere here on FR that the wealthy in CA don’t care about the taxes there...they have so much money the taxes don’t bother them at all.
So I say, tax very very VERY high so that they do care. Somethings got to give.
California keeps voting democrat they must like pain and willing to pay for it.
