California’s predictively significant budget deficit is a whopping $68 billion. Legislatures spend money on things that do nothing to improve the well-being of their residents – quite the opposite.
The lawmakers who caused the problem think that the way to solve it is to tax the productive people in the state to death, even if they try to leave or allegedly underreport their assets.
Individuals and businesses that try to leave will be subject to a one-time tax based on the value of their assets, including property and investments.
They think they can fill the budget hole dug by these non-stop big-spending socialists with a wealth tax that involves annual taxation based on all of their assets. If they have a valuable painting, it will be taxed every year. If they have a house, they will be taxed on its increased value even though they are not selling.
And that’s not all!
A NEW EVIL BUSINESS WILL COME OUT OF THIS
They will weaponize unscrupulous attorneys to scrutinize and potentially sue affluent individuals for underreporting their assets by incentivizing them financially.
If you want to make some money from a rich person’s allegedly underreported assets, you can start by going through social media and finding trips that they took, homes they bought, and so on. Then, you can report them to companies or attorneys who will pay you for doing it. It doesn’t matter if it’s inaccurate; people will pay to make them go away. It’s a whole new evil business that could sprout up. The fines for underreporting will be very painful.
Even those suffering from declining property values and higher taxes will have to pay again.
IT’S UNCONSTITUTIONAL
Expert John Williams says California’s punitive tax policies may serve as a blueprint for other states grappling with financial challenges. He predicts that similar measures could be adopted by cities such as Philadelphia, Boston, Atlanta, New York, and Chicago, further exacerbating the exodus of wealth from these regions.
Look at what the Attorney General of New York just did to the Trump organization. They didn’t commit a crime, and no law in the books fit the prosecution. Then they turned around and demanded half a billion dollars for allegedly telling banks the property was worth more than it was worth.
Williams says, “Taxing people for leaving CA? That is unconstitutional. Citizens of the United States have the liberty to freely move in and out of the 50 states as they please. People need to bring this to the Supreme Court and sue CA for its arrogance!”
“I think they should check case law: The U.S. Supreme Court in Crandall v. Nevada, 73 U.S. 35 (1868) declared that freedom of movement is a fundamental right and, therefore, a state cannot inhibit people from leaving the state by taxing them.”
Stop voting for these communistas! They ruined paradise.
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Once, we all said, ‘they got what they voted for”. Now, we know how widespread is the INSTITUTIONALIZED election fraud, we can only wish them luck. I DO wish, that they stay out of my state if they choose to bail.
The people voted for this. they deserve the California they created. All the West coast needs to be sealed off like a plague zone till all the infected die.
What about the innocents who voted against it?
How many sane people are left in California? This would not have occurred if the innocents had not nurtured and tolerated such nonsense in the name of “tolerance” and compromise.
Spot on. California wouldn’t be where it is if descent people had put a stop to the depravity and insanity years ago. But they allowed the rot to fester and grow. Year after year, decade after decade. Once Reagan left it got worse and worse.
Ahhh, kind of like how we all did nothing while the homo’s perverted our system.
Sadly, at this point, Putin may be the only one to put an end to this American nightmare.
So glad I LEFT CA about 18 years ago
You were wise.
I got out in 1969 at the age of 25. The handwriting was on the wall.
true 77 ere