CA faces a $68 BILLION budget deficit, so is now considering a wealth tax. With an already sky-high state income tax, Gavin Newsom is now advocating a tax on your worth. So sdr, since you’ve bragged here about your wealth, prepare yourself to pay a tax on it.
Also under consideration is an “exit tax”. So those who escape to another state will pay to do so.
Part-time CA residents would pay based on what fraction of the year they reside in CA. Jeeze, if I vacation in CA will I have to pay?
But at least your taxes are going to a good cause….like complete medical care for illegals. The world’s sick need only walk across the Texas border and head straight for CA to get their medical care, including (I believe–not sure), sexual transition surgery.
Piggs of a certain age will remember the song Hotel California:
“You can check out any time, but you can’t leave.”
