Dems plan a wealth tax on people who move in or out of California

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Marxists believe that all money is the government’s money. In their beneficence, they might let you keep some of it. For example, California plans to level a killer tax on rich people who dare move out of the state, probably to escape the taxes.

Fox Business 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.

Cavuto asked Bonta what happens if people move. Bonta called that “avoidance.” California would tax them for ten years. Bonte claimed they accrued the wealth in California. Basically, he thinks it’s California’s money. He believes they can do it legally.

RICH, GET THE HELL OUT OF CALI BEFORE THIS BILL PASSES

Bonta defended the grand theft by saying, “In California, we’ve had taxes on millionaires in the past. We raised taxes in 2012 by 3% — and the number of millionaires and billionaires in California has grown. We have 25% of the nation’s billionaires, 17% of the millionaires, those numbers are up and we’ve grown to be the fifth-largest economy in the world. So, while worthy of consideration it has not panned out.”

The first thing Marxists do when they take over countries is level wealth taxes.

Bonta added that his proposal would apply a “phased-in approach” to make sure Sacramento recoups its share of the income of a California resident who leaves the state.

“If you move in Year One, 90% of the tax bill applies…” he said, adding that the following year it drops to 80% and so on until it is phased out to zero.

If the wealthy acquired the wealth in another state, the same thing happens

Cavuto said to Bonta they won’t be able to leave the state and “they might hate you.” He then asked Bonta what happens to people who acquired their wealth in another state.

If someone acquired their wealth in another state, they still have to pay the taxes for ten years when they move into the state.

Bonta said people will continue to move in because “it’s California.”  We have education, Silicon Valley, blah, blah, blah. He added that people aren’t leaving. Bonta claimed George Soros and others said, “tax me more,” and it’s “patriotic to do this, it’s fair to do this.” 

By the way, George Soros uses every tax loophole in the book such as his ‘charities’ which are actually tax-free political operations.

They believe they have the right to steal your money. But, they are the party of slavery, the KKK, and Jim Crow, so what else could we expect except communism?

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33 COMMENTS

    • PLEASE, PLEASE PLEASE, Immigrating Californians please leave your old liberal tax and spend politics in California. Also, please leave your rude driving habits, line crowding and big mouths as well. Aggressive behavior and liberal politics are not wanted. Our two kids informed us separately when they were high schooler seniors they were planning to leave California “forever and not coming back!” So we left as well. And so glad we did!

      We had no idea, NOT ONE, that life could be so pleasant and affordable elsewhere. There really is peaceful living, happiness and quality of life, away from that miserable hateful state. As a native Californian, I grieve for what the state became but finally turned my back on the liberal theft of my kids’ inheritance and found a new happy life elsewhere………anywhere but California would be a 100% IMPROVEMENT,,,,,,except another Democrat robbing state. To be clear! It was the election of Democrat Governor Pat Brown and a hoard of Democrat legislators that ruined the state! There was one GOP governor after Brown, Pete Wilson who was weak against the growing Dem power. Abandon the California public schools where illegal immigrant education is prioritized over citizen kids and your own kids begin speaking with a Spanish accent, Abandon the budget breaking taxes….where you are punished for working hard, having a home, driving a car and wanting a few luxuries in life. BUT MAKE SURE YOU LEAVE ALL THOSE UGLY HATEFUL AGGRESSIVE CALIFORNIA HABITS AT THE BORDER WHEN YOU LEAVE. THEY ARE NOT, NOT, NOT WELCOME IN YOUR NEW STATE AND WILL EASILY IDENTIFY YOU AS JUST ANOTHER UNWANTED CALIFORNIA MIGRANT. Adapting your new culture quickly is imperative to having a smooth transition. The discussion when two cars approach the same parking space is “You go.” Wave, SMILE, “No you go.” Until one surrenders and turns into the space. YES! Kindness and courtesy is still alive and well past the border of California……but remember to join the new culture, relax and smile at strangers, they won’t dial 911 to report a crazy person like they do in California. Aaaahhh, life is quite good far away from my birthplace.

      • WOW that sounds like a wonder land. You mean there really is a place like that. We can’t wait to leave this Dem ruined state. And we will remember to leave our California-isms at the border. The only vestige will be our license plates.

  1. I wonder what percentage of those whom the tax would be impose on voted for the greedy Democrats running California into the ground. I don’t feel sorry for them.

    • So, I have to ask….
      What are they going to do if you give them the big middle finger?
      You’ve moved, sold your property, gotten you money out of the state, …
      What are they going to do? Out out a Most Wanted Bulletin? LOL!

  2. I don’t understand why anyone would allow themselves to be made modern day slaves in the most free country in the world. More to consider, what sort of politician would propose a law to turn the electorate into slaves? Really? Wake up California, you do nothing but place your citizens into hard bondage. They might make a law like this for many in CA, and they can be glad I don’t live there because they would have to kill me to collect. America has too many spineless citizens, this is how you lose your freedoms to the State. Typical CA voter is okay with enslaving the rich? These are tyrants plain and simple.
    Soon they will be all for raising every citizen’s taxes.

  3. I saw this coming 21 years ago and moved back to Texas. Bought my 2-story native rock house on 1/3rd acre in a good part of town for only $29,000. Best move I ever made.

    Hopefully, we can keep most of the rich Liberals out, but it’s getting harder and harder. Pray for Trump.

  4. In general, as long as the CA constitution would permit it, CA could tax wealth. The Feds can’t, because the Federal Constitution only allows for taxation of individual incomes (regardless of State of residence) under the 16th Amendment. Other taxes on people needs the Congress to pass a “total to be raised” which would be apportioned to the states in proportion to their Congressional (House) representation (Article 1). (How the States raise that money, would be up to the States, however – subject to of course, the 14th Amendment equal protection restrictions.)

    However, CA could only tax the wealth of CA citizens – to tax the citizens of other States would be unconstitutional under the federal Constitution. Move out of the State, you are no longer a CA resident/citizen. CA could impose ruinous tax rates on non-resident State-derived income, though. (It would kill their economy, but they could do it.)

  5. The problem with Californians fleeing the state is that they take their liberal politics with them and turn their new home states purple and blue. Stay in California! You screwed up your state, now stay there and fix it instead of moving somewhere else and screwing up other states, too!

    • No Dee Dee , the problem is you and people like you who think Everybody n California
      is a liberal and that we all voted for the Govt. we have . NOT TRUE .
      There are plenty of HARD WORKING , CONSERVATIVE people here who did NOT vote for this .
      But we were out voted .
      Please stop pissing on other people’s parade just to make you feel better about yourself .

      • While we all know that Elf, the problem liberal Californians are moving out, and they are taking their politics with them. Look at Austin, TX. Look at the state of Colorado. Looks what happening in Montana. You are welcome, your neighbors are not.

  6. They need to put up a barbed wire fence to prevent rich and skilled people from leaving. Every single socialist regime did it before them.

    • And that is no joke. New York State pursues emigrees into other states for tax money “owed” to New York. Starting to look like if you have money, NOW, today, is the time to leave. Dont put it off. Some idiot will buy your house, and you can move to Washington State and live like a king. Just avoid the big cities.

      • Avoid Seattle and its Democrat administration, whose Mayor let the riots continue unabated and foresaw them as a summer of love. And of course, the brown people who have recently invaded a neighborhood and demand over bullhorn that the whites leave their home and give it to brown people as reparations. NOT kidding. This is real.

  7. This is nothing new. It is only a modification of taxing military retirees that left CA when they retired. That was a few decades ago. By the time CA did that I had already changed my State of residency a few years prior. So to all leave while you can but LEAVE the ideas and beliefs that turned CA into a compost hole. Your new home does not want you to turn it into the compost hole (CA) you left.

  8. A “Moving in” TAX? That should certainly take care of anyone moving to that hellhole! Now for those moving out that should be an easy decision….every cent would be worth leaving. Isn’t this a bit reminiscent of the Tax the NAZIs levied on any Jews leaving Germany?????

  9. Leaving all that wonderful Southern California property to the illegal Mexican moochers. Can’t wait to see it explode.

  10. The Democrats are a clown show. How on Earth is this tax beneficial to Californians!? The rich will certainly pay the tax in order to escape the insanity. But nobody will pay such a tax in order to call the California lunatic asylum their new home! So you’ll have some income as people flee…and nobody new coming in to fill the financial vacuum! Certainly not the brightest strategy…but I guess we never accused Democrats of intelligence.

  11. Isn’t it a practice of the Soviet Union to build walls to force people stay. Let CA tax their citizens in any way the CA assembly sees fit. Californians voted them in. It’s their decision. Notice how he mentioned George Soros? The other states can use their migrating businesses. I suggest they tax Big Tech the most.

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