The pandemic has put a $50 billion dent in California’s finances and Democrats are busy coming up with new ways to raise more tax money. Plans to consider a tax hike on those making more than $1 million was just put off until next year, but now a California Assemblyman has proposed a wealth tax on top earners:
To be clear, property would not be considered as part of total wealth because it’s already taxed by property taxes, but they have to report it anyway. UC Berkeley economist Emmanuel Saez co-wrote a paper about the new tax. It makes clear that the wealthy would not be able to flee the state to avoid it because the wealth tax would continue for 10 years after someone leaves the state:
Perhaps California Democrats can just decide to tax the rest of the country over the next ten years as well, since they feel that they have the right to tax the citizens of other states? How about that? Should we all pay some sort of California state tax even though we don't live in California?
This seems... well a little insane.
26 comments:
The state of California will have to pay billions to pay for the Presidents executive order on $400 / month payments.
Fleeing from the state of California to avoid taxes should not happen.
Fleeing from the state of California to avoid taxes should not happen.
really alky?
so the state of mexifornia should be able to hold its residents as political prisoners because it is politics after all that is driving this.
but it's Trump who is the second coming of Hitler.
yeah...
Biden campaign is losing Chris Wallace for their hide in the basement strategy. They're not taking any questions and Wallace has had enough. So has America.
this is disgusting. and the moment Angel of Death Cuomo and the NYS legislature find out about it, they'll propose it as well. NYers are already fleeing the state like the people of Paradise CA fled the camp fire.
The proposed bill would impose an annual tax of .4% of extreme wealth defined as wealth in excess of $30 million per taxpayer. Wealth includes worldwide assets (but excludes real estate property). CA residents who leave the state would be liable for the tax for up to 10 years (with a decreasing fraction of their wealth taxable after leaving). New CA residents would symmetrically be liable on a progressively growing fraction of their wealth in their first 10 years of residence. We estimate that about 30,000 CA families (top .15%) would be liable for the extreme wealth tax and that the tax would raise about $7.5 billion/year. The wealth tax would help with the current fiscal crisis, reduce wealth concentration, and improve tax justice.
https://eml.berkeley.edu/~saez/CAwealthtax.pdf
this is disgusting. and the moment Angel of Death Cuomo and the NYS legislature find out about it, they'll propose it as well.
DeSantis will tell Cuomo to fuck off. So would any other governor worth his salt.
0linsky sucked their balls and paid them BILLION$
Trump treats them like the terrorist shitstains that they are.
Largest U.S. Seizure of Iranian Fuel from Four Tankers
The Justice Department today announced the successful disruption of a multimillion dollar fuel shipment by the Islamic Revolutionary Guard Corps (IRGC), a designated foreign terrorist organization, that was bound for Venezuela. These actions represent the government’s largest-ever seizure of fuel shipments from Iran.
On July 2, 2020, the United States filed a complaint seeking to forfeit all petroleum-product cargo aboard four foreign-flagged oil tankers, including the M/T Bella with international maritime organization (IMO) number 9208124, the M/T Bering with IMO number 9149225, the M/T Pandi with IMO number 9105073, and the M/T Luna with IMO number 9208100 (all pictured below). A seizure order for the cargo from all four vessels was issued by U.S. District Court Judge Jeb Boasberg of the U.S. District Court for the District of Columbia.
The government announced today that it has successfully executed the seizure order and confiscated the cargo from all four vessels, totaling approximately 1.116 million barrels of petroleum. With the assistance of foreign partners, this seized property is now in U.S. custody.
After enforcement of the U.S. forfeiture order, Iran’s navy forcibly boarded an unrelated ship in an apparent attempt to recover the seized petroleum, but was unsuccessful. U.S. Central Command published a video of the failed Iranian operation yesterday. See https://twitter.com/CENTCOM/status/1293678243552395264
Funds successfully forfeited with a connection to a state sponsor of terrorism may in whole or in part be directed to the United States Victims of State Sponsored Terrorism Fund (http://www.usvsst.com/) after the conclusion of the case.
A warrant for arrest and civil forfeiture complaint are merely allegations. The burden to prove forfeitability in a civil forfeiture proceeding is upon the government.
HSI’s Colorado Springs and FBI’s Minneapolis field office are investigating the case. The case is being handled by the National Security Division and the U.S. Attorney's Office for the District of Columbia. Assistant U.S Attorneys Zia M. Faruqui, Brian Hudak, and Stuart Allen, and National Security Division Trial Attorney David Lim are litigating the case, with assistance from Paralegal Specialists Elizabeth Swienc and Legal Assistant Jessica McCormick.
https://www.justice.gov/opa/pr/largest-us-seizure-iranian-fuel-four-tankers
πFleeing from the state of California to avoid taxes should not happen.π€‘
Roger, you don't pay property tax. You don't own land.
"Money flows to where it is best treated."
CA and NYC is seeing the great migration out.
The U-haul Index proves it.
CA and NYC is seeing the great migration out.
The U-haul Index proves it.
precisely. the problem with the out-migration from those two liberal shitholes is that many of those who flee are liberals who are so fucking stupid they'll vote for the same policies that ruined the states they fled, turning their destination states into shitholes too.
my retirement destination is already seeing a massive influx. -
New Hampshire’s governor said New Yorkers are pouring into the state due to high taxes and fear for their safety amid the Covid-19 crisis.
The Republican governor said New York, Massachusetts and other high-tax states are “pickpocketing” residents by taxing out-of-state workers who are working remotely during the coronavirus pandemic.
Tax experts say there is a larger question about how states will tax workers in a new era of remote work.
https://www.cnbc.com/2020/08/10/new-hampshire-governor-sununu-says-high-taxes-prompting-urban-flight.html
Under the Obama administration, the economy added a net total of 11.6 million jobs, according to the Bureau of Labor Statistics.
When April's figure is included, the US is down 11.8 million jobs compared with immediately before the pandemic.
https://www.latimes.com/california/story/2020-08-10/california-bullet-train-bridge-snafu
A series of errors by contractors and consultants on the California bullet train venture caused support cables to fail on a massive bridge, triggering an order to stop work that further delayed a project already years behind schedule, the Los Angeles Times has learned.
The bridge is longer than two football fields and is needed to shuttle vehicles over the future bullet train right of way and existing BNSF freight tracks in Madera County.
Authorities have yet to finalize a plan to repair the bridge. Late last year, crews installed temporary steel supports to prevent it from collapsing.
[...]
The bridge is part of Gov. Gavin Newsom's plan for a 171-mile, $20.4-billion bullet train operation from Merced to Bakersfield.
The bridge work began in 2016 and was supposed to be completed in 12 months. Relocation of underground utilities became a problem, as there were schedule glitches, according to rail authority and Madera County officials. Months turned into years, during which thousands of residents were forced to take long detours around the site.
171-miles! 20.4-billion dollars!
https://youtu.be/324akR35czE
thanks alky.
a video of "Slow Joe an da Ho" when they refused to take any questions.
perfect.
LOL.
Trump, who has largely sidelined himself during talks on Capitol Hill, asserted that Democrats were ready to make a deal.
He was playing golf and tweet tirades in support of White power!
stealing from the NYT again, alky.
https://www.nytimes.com/2020/08/10/us/politics/virus-stimulus-congress-trump.html
Internate incompetence
https://youtu.be/uOeWF0ZTi3s
https://www.nytimes.com/2020/08/10/us/politics/virus-stimulus-congress-trump.html
You know on Biden's website there's a plan for everybody except White Anglo-Saxon Protestant males (And Celts too) ππππππ
WASHINGTON (The Borowitz Report)—Donald Trump stirred controversy on Saturday by questioning whether the city of Oakland was located in the United States of America.
“Some very smart people are wondering about that,” Trump told reporters at the White House. “It’s something that needs to be looked into.”
Trump explained that Oakland was “probably a completely different country,” because “a lot of countries end in the word ‘land.’ ”
“You’ve got countries like Ireland, Iceland, and Greenland,” he said. “So you probably would have to add a country like Oakland to that list.”
Trump’s suffix-based theory of countries drew a question from one of the reporters present, CNN’s Jim Acosta.
“Portland also ends in ‘land,’ ” Acosta said. “Does that mean that, when you sent federal troops to Portland, you were invading a foreign country?”
“No, that means you’re a terrible person,” Trump replied.
Tax experts say there is a larger question about how states will tax workers in a new era of remote work.
You can solved the problem by not taxing the workers to begin with.
Emerald Robinson ✝️
@EmeraldRobinson
Joe Biden is a devout Catholic in the same sense that Hillary Clinton is an IT security expert & Harvey Weinstein is a feminist.
if only borowitz was funny...
rrb will go crazy in a few years!
Steve Kornacki NBC
Biden's age (77) and Harris could find herself in a unique position as vice president. Instead of having to wait eight years for her shot, she could get it in the next election in 2024, if a President Biden were to decline to seek a second term at 81 years of age.
Harris could be set up like no vice president before her. But only if she and Biden can first win this November.
tell kornacki to keep up. cillizza at XiNN has Slow Joe stepping down for the Ho almost immediately.
isn't it interesting that with all your talk about invoking the 25th amendment on Trump, you hypocritical assholes will be ready to use it on Slow Joe on day 2.
you might have a shot if the Ho could win this thing by fucking someone. that really is her only talent. that and being a miserable cunt.
Roger get your state off its ads (15% unemployment rate) and you can solve your fiscal problems.
The Hoe will be sworn in as President in 2021 by May.
Roger, you still haven't posted her accomplishments as US Senator?
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