California Wealth Tax

[Typhonis]

Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State

Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto: Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.

www.foxbusiness.com

To quote part of the article



"Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto: Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.

The Alameda Democrat told Cavuto the proposed tax "affects about 0.15% of the California population -- not the top 10%, not the top 1%, the top .15%, about 30,000 people" and would generate $7.5 billion in revenue for the state.

The host asked Bonta what will prevent the ultra-wealthy from continuing to "bolt" from California as taxes continue to rise. "


Do these IDIOTS not realize how money works? How will they plan to collect the money if they do move away? Also, what do they mean for Ten years? Does that mean someone leaving California tomorrow will still pay the tax for the next ten years to California? I smell tons of lawsuits if this passes.

 

[LordsFire]

Do these IDIOTS not realize how money works? How will they plan to collect the money if they do move away? Also, what do they mean for Ten years? Does that mean someone leaving California tomorrow will still pay the tax for the next ten years to California? I smell tons of lawsuits if this passes.

No, they don't realize how money works. If they did, they wouldn't be Democrats. Or at least not the variety you get in California.

 

[CarlManvers2019]

No, they don't realize how money works. If they did, they wouldn't be Democrats. Or at least not the variety you get in California.

The logic is that people would be forced to pay said cash and thus they will pay for it

But at the same time, they talk about stuff like Trump not paying his taxes, apparently only then selectively remembering that people don’t always obey the law, but only as a bludgeon to be used against him

There’s a LOT of doublethink therein

I think they’re a selective mix of cynicism and romanticism or idealism, both don’t come from thinking things objectively but thinking IRL is like some Hollywood movie

 

[Cherico]

Yeah I dont think this law passes basic constutional muster, I see it being smacked down hard by the supreme court.