Wealth Tax
Jan 24, 2023 21:11:00 #
Did anyone else see the story on California looking at creating a wealth tax on wealthy people who have left the state...even several years ago.
How can a state tax citizens residing in other states, except perhaps an income tax on money earned in California? And of course sales tax on items purchased there. They are looking at a 1.5% tax on the net worth of the rich who have fled California.
If this goes anywhere the legal challenges should be fierce
https://www.foxnews.com/politics/wealth-tax-latest-measure-california-democrats-squeeze-rich
"The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere."
How can a state tax citizens residing in other states, except perhaps an income tax on money earned in California? And of course sales tax on items purchased there. They are looking at a 1.5% tax on the net worth of the rich who have fled California.
If this goes anywhere the legal challenges should be fierce
https://www.foxnews.com/politics/wealth-tax-latest-measure-california-democrats-squeeze-rich
"The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere."
Jan 24, 2023 21:50:47 #
scooter1
Loc: Yacolt, Wa.
mwalsh wrote:
Did anyone else see the story on California lookin... (show quote)
Somebody needs to get Newsome the hell out.
Jan 25, 2023 10:01:04 #
There's no provision in the U.S. Constitution for a "wealth" tax. It's doubtful that even such a state law would survive a basic challenge, since it's a "direct" tax, and unconstitutional except for income taxes.
There are numerous papers out there, both pro and con, but the Supreme Court has ruled that such "wealth" taxes are unconstitutional. And with the current Supreme Court makeup, odds are slim, and he's headed out of town.
Article I, Section 10, prohibits ex-post facto laws by the states.
There are numerous papers out there, both pro and con, but the Supreme Court has ruled that such "wealth" taxes are unconstitutional. And with the current Supreme Court makeup, odds are slim, and he's headed out of town.
Article I, Section 10, prohibits ex-post facto laws by the states.
Jan 25, 2023 10:25:49 #
mwalsh wrote:
Did anyone else see the story on California lookin... (show quote)
Sounds good to me.
The voted for all the lunacy then fled the state when things really went south just to repeat their same stupid lunacy and political views where they moved to.
Jan 25, 2023 11:55:12 #
mwalsh wrote:
Did anyone else see the story on California lookin... (show quote)
Constitution be damned.
Jan 25, 2023 12:34:33 #
Fotoartist wrote:
Constitution be damned.
Since when did the Constitution stop any other oppressive lunacy the democrats have foisted upon the nation?
Jan 25, 2023 12:41:24 #
They're looking for any way possible to finance their lunatic policies.
Jan 25, 2023 12:46:19 #
Architect1776 wrote:
Since when did the Constitution stop any other oppressive lunacy the democrats have foisted upon the nation?
You are right. It doesn't stop them from taxing our wages as profit which we evenly exchange for giving up our talents and time of life.
Jan 25, 2023 14:15:29 #
mwalsh wrote:
Did anyone else see the story on California lookin... (show quote)
will be a helluva lot easier said than done...dont hold your breath.and Cal shouldnt count newly found wealth yet
Jan 25, 2023 14:19:39 #
wilpharm wrote:
will be a helluva lot easier said than done...dont hold your breath.and Cal shouldnt count newly found wealth yet
Who knows, the entire might of the DNC, DOJ, and corrupt courts will be supporting this. Also, right now Newsom looks to be the heir apparent to FJB so he is untouchable.
Jan 25, 2023 14:22:33 #
Architect1776 wrote:
Who knows, the entire might of the DNC, DOJ, and corrupt courts will be supporting this. Also, right now Newsom looks to be the heir apparent to FJB so he is untouchable.
well, collecting it should be fun
Jan 25, 2023 15:27:31 #
wilpharm wrote:
well, collecting it should be fun
I agree.
I would not be surprised to see some IRS rule helping CA out.
Jan 25, 2023 16:13:17 #
Jan 25, 2023 16:47:57 #
Architect1776 wrote:
I agree.
I would not be surprised to see some IRS rule helping CA out.
I would not be surprised to see some IRS rule helping CA out.
me either..now there is a big "reparation" movement there
Jan 25, 2023 17:08:37 #
mwalsh wrote:
Did anyone else see the story on California lookin... (show quote)
You might consider property tax.
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