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California Is Charging Residents Who Want to Leave the State With New Exit Tax
msn ^ | unknown | Wikimedia Commons

Posted on 03/20/2024 6:35:41 AM PDT by airdalecheif

Finance expert John Williams has recently analyzed California's new tax policies, which include the introduction of a wealth tax targeting affluent residents and an exit tax for those relocating out of the state.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Chit/Chat; Local News; Society
KEYWORDS: california; communism; despotism; exittax; taxes; unconstitutional
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These measures aim to address California's significant budget deficit, which has reached $68 billion. The state's approach to increasing revenue involves direct taxation on the assets of the wealthy, with additional scrutiny on asset reporting.
1 posted on 03/20/2024 6:35:41 AM PDT by airdalecheif
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To: airdalecheif

How does a state enforce an “exit tax”?


2 posted on 03/20/2024 6:37:31 AM PDT by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: airdalecheif

Didn’t Germany in the last 1930’s do the same thing to Jews wanting to leave their country?


3 posted on 03/20/2024 6:38:05 AM PDT by mware
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To: airdalecheif

It’s like the old sayin’ goes, “You can vote your way into socialism but you’re going to have to shoot your way out.”


4 posted on 03/20/2024 6:38:20 AM PDT by FlingWingFlyer (Could a "caravan" of freeloading U.S. citizens be able to make it into Mexico before they are shot?)
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To: airdalecheif

No need to go to the link. I posted the whole short article.


5 posted on 03/20/2024 6:38:53 AM PDT by airdalecheif
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To: airdalecheif

And if you don’t pay it you go to jail? California is officially a prison.


6 posted on 03/20/2024 6:39:01 AM PDT by ImJustAnotherOkie
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To: FlingWingFlyer

never heard that, but it’s sage.


7 posted on 03/20/2024 6:39:16 AM PDT by xoxox
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To: airdalecheif

When does the People’s State Of California build a wall to keep people in?


8 posted on 03/20/2024 6:40:18 AM PDT by Nateman (If the Pedo Profit Mad Moe (pig pee upon him!) was not the Antichrist then he comes in second.)
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To: ImJustAnotherOkie

But you are free to rob any store you wish.....


9 posted on 03/20/2024 6:40:23 AM PDT by joe fonebone (And the people said NO! The End)
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To: Gay State Conservative

Apparently California is in charge of interstate commerce, not the federal government. They must have updated the Constitution when no one was looking.


10 posted on 03/20/2024 6:40:54 AM PDT by ArcadeQuarters (You can't remove RINOs by voting for them!)
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To: airdalecheif

Would seem to be unenforceable if they move to a red state that thinks that the California law is stupid and ridiculous.


11 posted on 03/20/2024 6:41:25 AM PDT by Engraved-on-His-hands
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To: Gay State Conservative

Technically, it could be argued as unconstitutional.


12 posted on 03/20/2024 6:41:27 AM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: Gay State Conservative

When you exit make sure not to leave any assets in the state.


13 posted on 03/20/2024 6:43:24 AM PDT by cgbg ("Our democracy" = Their Kleptocracy)
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To: airdalecheif

Most of those wealthy people got that way because they are smart. They can figure a way around the wealth tax.


14 posted on 03/20/2024 6:45:25 AM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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To: airdalecheif

I think the initial goal here is to get the tax established and up and running without argument. Right now it is set at an annual rate of 1% of $50 million. Nothing to see here, Folks. After a time, though, a few of those figures can and will be adjusted. That 1% might jump to 20% or 30% and the $50 mil may drop to $1 mil or $500k. Or something like that...


15 posted on 03/20/2024 6:47:16 AM PDT by ArtDodger
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To: logi_cal869; ArcadeQuarters
I'm no expert but it seems to me that if a Kalifornian moves to a low tax state like Texas/Florida/New Hampshire they'd have to get the IRS to assist them in collecting that tax.Also,the government of the low tax state in question would probably challenge the tax.

When an East German was able to escape to West Germany he/she was completely free of the East's shackles.

16 posted on 03/20/2024 6:47:41 AM PDT by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: airdalecheif

Next it will be thought taxes.


17 posted on 03/20/2024 6:48:12 AM PDT by blueunicorn6 ("A crack shot and a good dancer” )
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To: airdalecheif

When businesses started leaving Ohio years ago for less expensive operation in the South, Ohio passed a “business exit tax” where companies had to leave the equivalent of six months wages when they left. Supposedly, those funds would be for retraining programs for the workers who lost their jobs. Not too long afterwards, Gov. Celeste noticed that no new business had been started in OH for the past 9 months (??—I think it was 9 months before they noticed). To their credit, they admitted their mistake and rescinded the exit tax.

Hey, California! There’s a lesson to learn here...


18 posted on 03/20/2024 6:49:40 AM PDT by econjack
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To: airdalecheif

The USG started doing this in the middle of the 80’s. Essentially, your wealth or money is considered a part of the US economy and if you take it somewhere else it hurts America. They did this to prevent people from moving large sums of money off-shore into non-US banking systems.


19 posted on 03/20/2024 6:50:11 AM PDT by Jumper
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To: Gay State Conservative
How does a state enforce an “exit tax”?

With walls, guards and barbed wire. East Germany was a good example for them to follow.

20 posted on 03/20/2024 6:51:20 AM PDT by pfflier
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