California Lawmakers Want Wealth Tax That Will Follow Taxpayers When They Inevitably Move to Cheaper States

National File ^ | 12/24/2020 | Frank Salvato

[hal ogen]

What absolute nitwits! PS If you are a LIB/lefty voter who is leaving cali...stay out of where I live. We despise you freaks of nature.

[E. Pluribus Unum]

“I see you have some money there. Give it to me so I can pay six-figure pensions to my peeps.”

[Scrambler Bob]

If my assets are in a Federal Credit Union, with branches in every state, I would guess I am vulnerable.

Comments?

[Sequoyah101]

It should be good luck collecting it you pigs but that may not be so true in the future.

[Scrambler Bob]

We’re going to need a bigger wood chipper.

[CatOwner]

I don’t see how they can enforce it across state lines.

If it's coming from a state-funded pension, seems like the state would have some control over it (vs. a private company pension). Forcibly withhold a fixed percentage from the state-funded pension. Make people who are out-of-state have to file in California to try and get it back.

[CatOwner]

That is why every wealthy Californian needs to sell all CA real estate and move all movable assets out of the state--now!

Much of the real estate in California, especially in the higher desired areas like Silicon Valley, are being sold to individuals from China who otherwise would have their money stuck in mainland China.

[New Perspective]

Why not support this. If these rich idiots can ruin their own state they should not be able to crap in our cereal then run. Let the the politicians THEY elected attach themselves to the fleeing lib idiots bank accounts like a giant leach. Maybe if these wealthy elites have 90% of their money confiscated due to their voting habits then I am all for it. Let them live under the rules THEY voted for.

[cherry]

I am actually not against this totally....this is why...if Cal. is like NYS, they don't charge state income tax on their mulitude of overly compensated pensions and then these statist move to cheaper states....they voted in the massive debt and now they want to escape it....

Pay up....

[Trumpisourlastchance]

China has more respect for private property than the US.

[windsorknot]

California isn’t even a shadow of what it used to be.

[hanamizu]

“At $30,000,000 net worth it won’t apply to very many people...Then they’ll quickly lower the number to about $1,000,000 and include the value of personal residences, thereby catching and destroying what’s left of the much of the middle class.”

---

Of course. You pass a tax that only touches the very rich. That makes it popular. Then lower the threshold. That’s how the Federal Income Tax started. Only the very wealthy had to write a check (no withholding) on March 15. Average person paid no Federal Income Tax.

As time went by, everyone making money had to pay it, but to ‘soften the blow’ the tax was withheld from your paycheck, so you didn’t have to write a huge check and so didn’t get upset at how much money the government was really making you pay every year.

[Flaming Conservative]

ROFBOL! Have the California nitwits ever heard of taxation without representation prohibition?

[Texas resident]

All taxes are designed to soak the middle class because that is where all the money is. But this is a wealth tax which is a whole another animal. This is a punitive tax.

[Red in Blue PA]

Lesson: Never ever live in a democrat run city or state.

People will catch on sooner or later.

[Extremely Extreme Extremist]

Instead - they are looking to purge and 'purify' the state. You can't round people up and put 'em in prison any more as in the Soviet Union, and you can't just kill them. But you can encourage the non-believers to leave.

This! This is the money shot folks. What progressives really want is to live among THEIR KIND. They want a society where they, the elites, are at the top. The 10%. And you can bet where they live their communities will be walled off with security. The upper two-thirds or whatever are the liberal special-interest groups - the environmentalists, the militant blacks, activists for illegal aliens, feminists, unions abortionists, etc. And the other 50%-60% at the bottom are the destitute, the homeless, the real poor - not the fake "poor" because they are the activists for the REAL poor.

That is why these blue states are enacting these policies - so working and middle-class people can BE FORCED TO LEAVE. They don't want law-abiding, patriots around with their stupid SUVs and taking their kids to soccer practice.

[antidemoncrat]

“You also cannot renounce US citizenship for tax reasons”

I didn’t know you needed any reason to do that.

[pas]

If they vote Dem, I am all for it. Tax all Dems wherever they are at. Let all states have a crack at them. You know so they can pay their fair share.

[Fai Mao]

You have to go through an interview with a State Department official to renounce your citizenship. Most people that renounce citizenship do so because they married a foreign national, are living somewhere else and neverplan to return to the US. But, you are asked if you leaving the US to avoid US taxes. If you say “Yes” your petition is denied.

If you are an expat you must file US taxes even if you owe nothing, and even if you pay taxes in the place you live. You are assumed to be a tax cheat. In many places you have a hard time getting a bank account because if a bank gives an account to a US citizen they have to file paperwork with the US.

[RetiredTexasVet]

I think that the SC has ruled against that type of tax in the past, but that won’t stop them.