Is this like the Berlin wall when USSR was trying to keep the Communists inside?
What do you guys know about the exit tax?
it only applies to people who make 30 million per year or more.
to crack down on a tax loophole. Apparently they have a higher capitol gains tax than other states. So rich people move their assets out of california before selling it to avoid the capitol gains tax. This would help to prevent that.
It is shocking that given the option rich people will pay less tax. Maybe California should threaten other states if they dont raise taxes to match theirs. .
Of course you do. You are Natasha
1) since the state has invested heavily in your success (tax breaks, incentives etc), they don't want people who used california's resources to build their wealth to just move it elsewhere after leaching off them.
2) to crack down on a tax loophole. Apparently they have a higher capitol gains tax than other states. So rich people move their assets out of california before selling it to avoid the capitol gains tax. This would help to prevent that.
Hey buddy, isn't that what the income tax is supposed to pay for?'
So what is it, the people who stay haven't truly given back to California for its benevolence yet?
What assets can you move out and not have local capitol gains tax apply to you?
None. There is no such loophole. You buy stock in Japan you have to report it on your federal and state taxes, moving to Iowa doesn't help.
Hey buddy, isn't that what the income tax is supposed to pay for?'pay for what exactly?
What assets can you move out and not have local capitol gains tax apply to you?I didn't write the law. I did a quick search to see what the point of this law is. My quick research said that in california there is a loophole that allows rich assholes to avoid the local capitol gains tax (which is higher than in other states) by moving out of california before selling the assets.
why would you even care about this? The only way this kind of thing could affect you is if you had hundreds of millions of dollars.
So they are dodging california taxes by moving out of state temporarily, selling the assets, then coming back. With an "exit tax" this would no longer work since they'd have to pay anyway.
How in the world is that a loophole? Does someone from Texas need to pay California when they make money?
It sounds like you just don't believe them when they say they're moving out of California. Well you don't get to decide what they identify as ;)
Abstract moral principle is the only alternative to savagery. If I was a freeman I would still care about the injustice done to a slave.
If it's a temporary thing make it a rentry tax eh? No of course not, because it's not about any silly loophole.
Communists think they own everything.
A rich person is already a thief in their eyes, at best they're borrowing wealth from society, so when they rich person leaves the communist sees that as making off with all the toys in the sandbox.
If it's a temporary thing make it a rentry tax eh? No of course not, because it's not about any silly loophole.while this would of course also close the loophole, it would also hit people just trying to move to california. Which they don't want. They only want to target the assholes abusing the system.
Communists think they own everything.I'm not aware of any communists in America. Certainly not in any government role.
most rich people make alot of their money using public funds.
They use public infrastructure.
They benefit from the free public schooling the state provides etc.
Without the state, these people would not have made their money.
And yes, that means they should pay their fair share back into the system that helped them make their money.
Reentry, so say only if they had lived in California in the past five years.
Communists think they own everything.I'm not aware of any communists in America. Certainly not in any government role.Bla bla bla, playing dumb. Gotcha.
Best part about this plan? Nobody has any stolen goods so you can tell what the hell is going on.
And I've bought a ferry ticket before, doesn't mean the boatman owns me. All prices must be clearly marked, and unless otherwise specified in formal contract final. Anything else is fraud.In other words, pay for the road with tolls.
If it's free, why do you claim to be using it as a justification for seizing property?
Trace any economic interaction. The rich pay there way in every conceivable measure the same as the rest of us.
Without the state (or at least a state) your mother would have been raped and murdered before she had you, doesn't mean the state owns you.
They did already (excluding fraud and corruption as always). That's what the money means.
Reentry, so say only if they had lived in California in the past five years.that might work
You either can't name one, or you don't know what the word communist means.
Without public services, most companies couldn't function. So yes, it is critical that they pay back into to system to help support it since we all rely on those public services....But the state provides services that are critically important. Therefore we all have a duty to pay into the system to make sure those services are provided.
And it sounds like you are suggesting like life without any taxes would be some kind of paradise. that is literally not possible. society would collapse and some other society that does use taxes (literally all of them) would take over....this is dumb. I mean, should fire fighters charge the person whose house is burning and refuse to put it out if they can't pay?
Trace any economic interaction. The rich pay there way in every conceivable measure the same as the rest of us.no, not really. They pay a lower tax rate than you do. In some cases billionaires can actually pay $0 in tax.
They did already (excluding fraud and corruption as always). That's what the money means.what? the fact that they have money does not mean they paid their fair share.
The rich constantly use loop holes and tax havens to avoid paying their fair share.
Communists are what communists do. Not interested in playing that semantic game at this time. Not when you're engaging on substantive matters.
What's the answer HistoryBuff?
You don't really believe that something intrinsic about public services that requires blank check theft. You have a problem with wealth inequality and you want a legal way to steal to 'fix' it.
I would have hoped a history buff would know that in the USSR bread was an essential government service.
Taxes are untraceable economic interactions. I meant when they get something from a store they pay for it.
They owe nothing but what they agreed to pay, same as the rest of us.
They are not giving that steel to anyone. They are selling it.
Our modern world would not have been possible without taxes and government services.
I would have hoped a history buff would know that in the USSR bread was an essential government service.you don't know what the word service means do you? Because bread, by definition, is not a service.
I meant when they get something from a store they pay for it.I don't believe anyone has ever claimed otherwise. So it's a wierd thing to say.
They owe nothing but what they agreed to pay, same as the rest of us.no one "agrees to pay" taxes.
"I didn't agree to parking laws, so I'm not going to pay my parking ticket"
It's childish.
Individuals each have the same amount of say in this. A rich person should have no more say in this than a poor person.