The pandemic has put a $50 billion dent in California’s finances and Democrats are busy coming up with new ways to raise more tax money. Plans to consider a tax hike on those making more than $1 million was just put off until next year, but now a California Assemblyman has proposed a wealth tax on top earners:
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And then there's this:
The government agency responsible for Bay Area transportation is planning on dramatically expanding tolling on freeways in the region, as revealed in an interagency letter seen by SFGATE.
The Metropolitan Transportation Commission stated in the correspondence, sent to to the directors of the Bay Area’s county transportation agencies (CTAs) earlier this month, that they envision an "eventual transition to congestion pricing on all freeway lanes in corridors with robust transit options."
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... the wealthy would not be able to flee the state to avoid it because the wealth tax would continue for 10 years after someone leaves the state: ... California has put the wealthy on notice: leave now or pay later.
ReplyDeleteI suppose the irony of taxing via tolls on an object named a “freeway” has been lost on the girls in The Bay Area government.
I keep meeting ex-Californians who moved away to flee the high taxes and anti-small business attitude of CA.
ReplyDeleteThe latest one had just plunked down a half million on an ocean view lot.
This is happening, or is going to be happening, all over the U.S. and every other country who's state and national Governments forcibly shut down their economies because of Covid. They shut everything down for months based on bad info or just bad governance and now instead of dealing with the consequences and adjusting to less money like every citizen has to do they're going to force the us to pay.
ReplyDeleteAnd most of the damage has resulted from our supposed leaders refusing to admit any mistakes on their part or pull back any of their horrible policies as actual data became available. Why the hell should we pay them for gutting our economy and stripping us of our human rights?
California has already tried, and succeeded in many circumstances, to tax ex-Californians for a couple years after they leave.
DeleteIf they put tolls on freeways they are no longer freeways but tollroads.
ReplyDelete"People subject to the wealth tax would report it to the Franchise Tax Board along with their income taxes. They would have to report all assets including stock in publicly and privately traded corporations; interests in partnerships, private equity or hedge funds; cash, bonds and savings accounts; mutual funds, futures and options; art and collectibles; offshore financial assets, pension funds, non-mortgage debt, real property and mortgage debt."
ReplyDeleteNone of which is any of the state's fucking business.
And you can bet they'll continue holding those assets in their own names rather than set up shell companies or trusts to conceal their ownership.
DeleteWhy are "wealthy" people gathering wealth in their own names? All they have to do is create an LLC and a trust, set those up in Nevada and then the wealth flows through the LLC's into the trust, all outside of CA. It isn't taxed mainly because CA doesn't know it exists. Now if the wealth is coming from wages, it becomes more difficult to hide, but are tricks to pull to cut the State out of your pocket. Maybe not 100% legal, but neither is the State of CA legal.
DeleteI would hope that one of these days all these so-called-CA, conservatives would stop coming to Texas. They have no idea what true conservatism is. Just like our "conservative" governor who joined sides with soros and the repub establishment.
I just renewed my car registration and it cost $226 for the reg plus $50 for a smog. This is on an 8 year old car. I'd say I'm paying ENOUGH TAXES!
ReplyDeleteMy 2018 just cost $56 and NO smog test. We don't have smog in Texas
DeleteDeath by 1000 cuts.
ReplyDeletePeople put up with it until they don't. I stopped putting up with it in 2005. Mileage may vary. No one in Sacramento appears to be concerned with encouraging people to stay. (Unless you're illegal or want the state to support you.)
The commies in Sacramento are no different from the commies anywhere else in the country. They all know the covid was expected to lower population numbers all over America, and it didn't, and won't. So, why would the CA commies give a rats ass if all the repubs moved away?
DeleteI have zero interest in reading about city-Californians.
ReplyDeleteHowever, the phrase "...robust transit options..." as another way of saying 'expect more taxes increases' is beyond cute!