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California’s Next Tax Increase: Sacramento Democrats float a 16.8% marginal income tax rate.
Wall Street Journal ^ | August 14, 2020 | WSJ Editorial Board

Posted on 08/15/2020 4:44:19 AM PDT by karpov

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To: Cboldt

“Round it up to 25%. The surplus can be used for a monorail”

Speaking of which I wonder how that Demonrat boondoggle AKA Train to nowhere is progressing in these Covid times? Hahaha!!!


21 posted on 08/15/2020 5:47:23 AM PDT by DAC21
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To: chuckee

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.

***************

Frying pan

Fire


22 posted on 08/15/2020 6:05:34 AM PDT by Graybeard58
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To: Lockbox

>>Love the concept of retroactive. Can the car dealer come back to me 8 months later and demand more money (oh and get it because he is also the enforcer).

You think too small.. They could pass a law making something you did 7 months ago a crime and then arrest you for it. Any penalty they want. I bet there’s even some fancy Latin term for it among lawyers... “ex post facto” or some such...


23 posted on 08/15/2020 6:15:22 AM PDT by vikingd00d (chown -R us ~you/base)
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To: Buttons12
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?

They already tried that with pensions when people retired and moved out of state. SC shot it down some years ago..

24 posted on 08/15/2020 6:50:18 AM PDT by EVO X
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To: vikingd00d

Yeah, but that was written into some dusty old document that nobody bothers with any more.


25 posted on 08/15/2020 6:50:50 AM PDT by Hardastarboard (Three most annoying words on the internet - "Watch the video")
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To: vikingd00d
Lawyers 😱
26 posted on 08/15/2020 6:58:32 AM PDT by Lockbox
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To: karpov
Perfect. More rich kommiefornia kreeps moving to civilized states, taking their kommie money and influence with them.

Their sole talent is making money, because at everything else, they're just obtuse and stupid. I wish they'd move to kanada.

27 posted on 08/15/2020 7:03:19 AM PDT by LouAvul (Put them in fear, O Lord: that the nations may know themselves to be but men. Psalms 9:20)
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To: karpov

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.


28 posted on 08/15/2020 7:03:43 AM PDT by Grampa Dave ( Trump claims, "That if Biden wins Americans will have to 'learn to speak Chinese'!!")
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To: Bloody Sam Roberts

My neighbor who lives in CA, bought a house here in Washington State and even though he’s only here for about 3-4 mos yearly, files his income taxes as a Washingtonian. (ZERO). Also car tabs are only $45 year here vs around $545 for his new Lexus. His retirement income is 6 figures. Lots of people doing this.


29 posted on 08/15/2020 7:05:06 AM PDT by sanjuanbob
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To: WWG1WWA
Newsom is in trouble. He is running a $20 billion deficit.

Forget it, Jake - it's Chinatown California.


30 posted on 08/15/2020 7:07:41 AM PDT by newfreep
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To: karpov

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.


31 posted on 08/15/2020 7:09:11 AM PDT by Karoo
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To: Bloody Sam Roberts

“Other than estate taxes, income tax is the most egregious abuse of power ever devised by the representatives of a republic.”

Taxing your assets year after year is even worse!


32 posted on 08/15/2020 7:35:28 AM PDT by aquila48 (Do not let them make you care! Guilting you is how they control you.)
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To: Buttons12

Holy cow! That’s absurd!!!!


33 posted on 08/15/2020 7:39:40 AM PDT by napscoordinator (Trump/Hunter, jr for President/Vice President 2016)
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To: karpov

California keeps voting democrat they must like pain and willing to pay for it.


34 posted on 08/15/2020 11:39:05 AM PDT by Vaduz (women and children to be impacIQ of chimpsted the most.)
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To: mewzilla

#2 Those 2 words to the democrats would not be my choice... : )


35 posted on 08/15/2020 2:12:25 PM PDT by minnesota_bound (homeless guy. He just has more money....He the master will plant more cotton for the democrat party)
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