Kalifornia exit tax incoming - Page 2

The Chicken Ranch

8:33p, 4/24/24

That's what I'm thinking. Good luck with that, Gavin Dumbass.

Kraft Punk

8:34p, 4/24/24

MemphisAg1 said:
Does anyone know how California claims to still have taxing authority over someone after they leave the state?

It's bc they're communists

aezmvp

8:51p, 4/24/24

In reply to Little Rock Ag

Little Rock Ag said:
I don't see how that is legal, and, secondly, how can they enforce it if you move to another state?

So interesting to see.serfdom return.

Iraq2xVeteran

9:52p, 4/24/24

I don't see how the California Exit Tax could hold up in Supreme Court. I am from Fremont, California, but I moved to Texas in August 2013. After graduating from Texas A&M in May 2017, I have continued to stay in Texas. My parents still live in Fremont, and I visit them twice a year. I have not looked back, and my parents actually encouraged me to move to Texas because of the high cost of living for a decreasing quality of life in California.

techno-ag

9:59p, 4/24/24

In reply to Fightin_Aggie

Fightin_Aggie said:
techno-ag said:
https://www.foxnews.com/opinion/thinking-moving-your-blue-state-may-soon-charge-you-exit-tax

Quote:
California already has cities that include "mansion taxes" for sales of real estate properties. This is why you've seen so many wealthy people move to Nevada. Business owners often tell me that California is one of the of the most difficult states to do business in right now.

With all these factors, many people who have built up their wealth are now thinking the Golden State isn't so golden anymore.

So, how does California attempt to solve their massive deficit problem and create a new tax scheme that other broke blue states are likely to follow? They create an EXIT TAX for those who want to move from the state.
…
The exit tax is 0.4% of an individual's net worth over $30 million in a tax year, no matter where it's located -- within California, other states within the U.S. or overseas. This amount is halved to $15 million if a married taxpayer files a separate return to their spouse. This EXIT TAX follows you to another state for up to 10 years.
As usual unforeseen consequences will come about because of this. You might see people find loopholes to "lose" their wealth before moving, or some interesting court cases.

Anyway the immediate effect is to put wealthy people on notice. Don't even think about moving to Kalifornia. It's like the hotel. You can check in but you can never leave.
This seems like a blatant interstate commerce violation that would get laughed out of court

But I guess it's (D)ifferent

Democrats don't think that money is yours. You only get to keep what the government lets you keep.

Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris

2wealfth Man

11:14p, 4/24/24

Texas gonna have to implement an entry tax.

See why Ellison and Oracle announced a move to Nashville yesterday.

Bearpitbull

11:45p, 4/24/24

In reply to annie88

annie88 said:
I don't care where they go, but they better not ****ing come to Texas. Because they'll bring that just crap with them. They've ruined their states and instead of moving away from the Democratic Party, they will still support and vote for them, it's truly astonishing. Seriously these people can just go screw themselves.

The people moving from CA to TX are more conservative than the average Texan. Races were closer 6 years ago before the exodus really got going. Few libs are moving to Texas. It's the right leamimg folks moving here because they think they will be more welcome. They are saving the majority from what was happening with more Texans moving to cities.

Brother Shamus

12:09a, 4/25/24

In reply to PCC_80

PCC_80 said:
They are starting at $30Mill in Net Worth and for 10 years after leaving. Bet those numbers comes down really really quick. Maybe 5 years from now it will be $100K in Net Worth and they will want to tax you for 20 years. SCOTUS or Congress needs to nip this crap in the bud.

No the citizens stop the crap by refusing to cooperate.

fullback44

1:54a, 4/25/24

I picture a big large 200 lb dog about to pinch one off… he's gonna drop his big brown pile of doo right in California…. No way a stupid law like that holds up.. states like Florida or Texas will allow them to move in and sue California…. That state is full of stupid people in office

AgNav93

11:06a, 4/25/24

In reply to fullback44

fullback44 said:
I picture a big large 200 lb dog about to pinch one off… he's gonna drop his big brown pile of doo right in California…. No way a stupid law like that holds up.. states like Florida or Texas will allow them to move in and sue California…. That state is full of stupid people in office

That state is full of stupid people who put stupid people in office. It's a case study of what happens when the grasshoppers outnumber the ants.

FTAG 2000

12:22p, 4/25/24

They will future date this so that all the connected and wealthy can move their assets out.

Then they will lower the thresholds to come after the middle class who don't leave.

UTExan

12:34p, 4/25/24

California has only one tool: the hammer. Therefore every problem to them looks like a sickle.

It is better to light a flamethrower than to curse the darkness- Sir Terence Pratchett
“ III stooges si viveret et nos omnes ad quos etiam probabile est mittent custard pies”

Yukon Cornelius

12:36p, 4/25/24

It will be done for the entire US. With the unrealized tax and cap gain increase coming. There will be massive capital flight and they will try and lock it in. They will enforce those borders but not against illegal. immigration.

Hard to see any hope left for this nation

UTExan

12:57p, 4/25/24

In reply to Yukon Cornelius

They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/

It is better to light a flamethrower than to curse the darkness- Sir Terence Pratchett
“ III stooges si viveret et nos omnes ad quos etiam probabile est mittent custard pies”

Yukon Cornelius

1:05p, 4/25/24

In reply to UTExan

Building walls around capital in the US but won't defend actual borders.

richardag

1:21p, 4/25/24

In reply to UTExan

UTExan said:
They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/

My question is why in the hell do major corporations fund the Democratic Party campaigns. The CEOs of these companies must be true believers and not upholding their fiduciary obligations.

The budget should be balanced, the treasury should be refilled, the public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed, lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance.
-- Cicero, 55 B.C.

Yukon Cornelius

1:42p, 4/25/24

In reply to richardag

richardag said:
UTExan said:
They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/
My question is why in the hell do major corporations fund the Democratic Party campaigns. The CEOs of these companies must be true believers and not upholding their fiduciary obligations.

No. They are just trying to pump the stocks prices. Because that's how they get their bonuses. And easiest way to pump stock prices is print money. How do you get money printer to go brrrrr? Increase government

cecil77

1:55p, 4/25/24

In reply to Bearpitbull

Bearpitbull said:
annie88 said:
I don't care where they go, but they better not ****ing come to Texas. Because they'll bring that just crap with them. They've ruined their states and instead of moving away from the Democratic Party, they will still support and vote for them, it's truly astonishing. Seriously these people can just go screw themselves.

The people moving from CA to TX are more conservative than the average Texan. Races were closer 6 years ago before the exodus really got going. Few libs are moving to Texas. It's the right leamimg folks moving here because they think they will be more welcome. They are saving the majority from what was happening with more Texans moving to cities.

Saw some research at the time that said that newly arrived Texans were responsible for Cruz defeating Beto.

PCC_80

2:11p, 4/25/24

In reply to richardag

richardag said:
UTExan said:
They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/
My question is why in the hell do major corporations fund the Democratic Party campaigns. The CEOs of these companies must be true believers and not upholding their fiduciary obligations.

Dems/Libs are really good at veiled threats and offhand comments about coming after a company. All code for donate to my campaign/party or you will be punished. It works.

Republicans do this too, but not to the degree that Dems/Libs employ this tactic.

richardag

2:44p, 4/25/24

In reply to Yukon Cornelius

Yukon Cornelius said:
richardag said:
UTExan said:
They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/
My question is why in the hell do major corporations fund the Democratic Party campaigns. The CEOs of these companies must be true believers and not upholding their fiduciary obligations.
No. They are just trying to pump the stocks prices. Because that's how they get their bonuses. And easiest way to pump stock prices is print money. How do you get money printer to go brrrrr? Increase government

True in that respect, but the current question revolves around an extraordinary increase in taxes on citizens, including the managers/owners of industry, and corporations/businesses.
By backing the corrupt Democratic Party leadership they are abandoning their fiduciary respond showed be fired.

The budget should be balanced, the treasury should be refilled, the public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed, lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance.
-- Cicero, 55 B.C.

richardag

2:45p, 4/25/24

In reply to cecil77

cecil77 said:
Bearpitbull said:
annie88 said:
I don't care where they go, but they better not ****ing come to Texas. Because they'll bring that just crap with them. They've ruined their states and instead of moving away from the Democratic Party, they will still support and vote for them, it's truly astonishing. Seriously these people can just go screw themselves.
The people moving from CA to TX are more conservative than the average Texan. Races were closer 6 years ago before the exodus really got going. Few libs are moving to Texas. It's the right leamimg folks moving here because they think they will be more welcome. They are saving the majority from what was happening with more Texans moving to cities.
Saw some research at the time that said that newly arrived Texans were responsible for Cruz defeating Beto.

One can hope.

The budget should be balanced, the treasury should be refilled, the public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed, lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance.
-- Cicero, 55 B.C.

richardag

2:46p, 4/25/24

In reply to PCC_80

PCC_80 said:
richardag said:
UTExan said:
They are also locking down any foreign investment earnings as well.
https://taxfoundation.org/research/all/federal/biden-budget-2025-tax-proposals/
My question is why in the hell do major corporations fund the Democratic Party campaigns. The CEOs of these companies must be true believers and not upholding their fiduciary obligations.
Dems/Libs are really good at veiled threats and offhand comments about coming after a company. All code for donate to my campaign/party or you will be punished. It works.

Republicans do this too, but not to the degree that Dems/Libs employ this tactic.

No doubt. Seems a trial in NYC concerning real estate exemplifies this exactly.

The budget should be balanced, the treasury should be refilled, the public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed, lest Rome become bankrupt.
People must again learn to work, instead of living on public assistance.
-- Cicero, 55 B.C.

annie88

2:50p, 4/25/24

In reply to Mas89

You had something to say and deleted it?

Do share.

fullback44

3:39p, 4/25/24

In reply to AgNav93

AgNav93 said:
fullback44 said:
I picture a big large 200 lb dog about to pinch one off… he's gonna drop his big brown pile of doo right in California…. No way a stupid law like that holds up.. states like Florida or Texas will allow them to move in and sue California…. That state is full of stupid people in office
That state is full of stupid people who put stupid people in office. It's a case study of what happens when the grasshoppers outnumber the ants.

toooooooo man have nots, especially when you let illegals roll in like termites .. but I do like my grass being cut for cheap and my house painted for cheap rates!