Good day all. The 2020 Census is showing that a lot of Progressive Blue States are losing population. With this, they are also losing house seats. Kalifornistan is no exception. In addition to regular people fleeing, the rich are also moving to friendlier climes.
This has led to a major financial mess for states like New York, Illinois, Connecticut and of course, the People’s Democratik Republik of Kalifornistan. Major corporations and wealthy people are bolting the state as fast as their private planes can take off. They are also taking their tax money with them. Kalifornistan is looking at a gaping revenue hole they dug for themselves, and a few legislators have come up with their usual Baldrick level cunning plan. Here are the details from Just the News:
The exodus of some businesses and wealthy executives from California is not stopping some state lawmakers from supporting a wealth tax proposal in a state where Democratic Gov. Gavin Newsom is being targeted for recall.
Never let it be said that the ruling elite ever let things like reality get in the way of their brilliant ideas.
A wealth tax proposal that was pushed this year would have applied up to a 0.4% tax on the amount of a state resident’s net worth over $30 million dollars. The proposed bill, AB 2088, would have made those who spent more than 60 days in California in a year subject to some level of the wealth tax.
And the brilliant part? If people bolted the state who would be covered by this years ago, it will apply to them retroactively.
The amount of the person’s wealth subject to the tax would depend on the amount of time spent in the state during the prior ten years. And under the proposal, even leaving the state would not free the taxpayer of the burden, because anyone who had been subject to the tax in the preceding ten years would still be subject to some level of the state wealth tax for up to 10 years.
Now I will state that I am not 100% sure on this, but it looks like the plan was to tax people for the entirety of their assets, not on any earnings made while in Kalifornistan. Right now, a state can screw you over tax you for any money you earned while in the state. This hits professional sports players who come in from a different state and play a game or two. They have to cough up whatever the percentage is that they earned.
This looks like the Kalifornistan leg breakers tax collectors can go after the total assets even if you don’t make anything in the state that year. I’ll let someone better versed in this sort of thing inform me in the comments section. In any case, this bill is dead for this session. The bad news is, like any weeds, it will crop back up next session.
State Senate Minority Leader Shannon Grove during an interview on the John Solomon Reports podcast said that the proposal failed but that it “is coming back this year.” According to Law360, state legislators adjourned without advancing the legislation.
Grove, a Republican, said state Democrats will “try to say that if you generate any revenue in the state…that they can track you down in whatever other state you go to and they can tax you California state taxes for ten years after you leave.”
Oh I think that’s going to knocked down hard in the courts. There is already one suit I know of regarding states with income taxes going after people who live in free states and are working remotely. (New Hampshire vs Taxachusetts) This bill goes much further. However, not everyone in the Democratic CommuNazi Party is on board with this idea.
And while some state lawmakers support slapping wealthy individuals with a wealth tax, some Californians are backing a push to recall Democratic Gov. Gavin Newsom.
“Unaffordable housing. Record homelessness. Rising crime. Failing schools. Independent contractors thrown out of work. Exploding pension debt. And now, a locked down population while the prisons are emptied. Hold Gavin Newsom accountable. Gavin Newsom must go,” a recall website declares.
The recall of Newsom is building rapidly and as I understand it, has already crossed the halfway point in the number of signatures they need. However, even if they manage to bounce Newsom, (Who definitely needs a good bouncing), the Communists in the state legislature will remain and they will try to push this through.
I think it will be interesting if they do manage to make this a law. How they plan on enforcing it on people who have left the state and do next to no business there. I know that if they try to go into other states, and arrest people, there is a good chance that the individuals doing the arresting will find themselves under arrest themselves. That is if they don’t get themselves shot in the first place.
The problem with Kalifornistan isn’t revenue, it’s spending. The budget for the state is flat out completely out of control and the taxpayer well has run dry. The only way to fix this mess is to put people into office who will flat out gut the public sector unions once and for all. Considering that, for all intents and purposes, Kalifornistan is nothing more then a standard Turd World Country, I don’t see that happening. It sucks to be them.
Thatisall
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