Yeah, this won't make it past the courts let alone the economic damage its going to cause California and loss of some of the brightest college students. Who kno

Yeah, this won't make it past the courts let alone the economic damage its going to cause California and loss of some of the brightest college students. Who knows what your wealth profile will be after you move out? Let alone anyone who inherits wealth, will California want a piece of that even if the property is wholly outside the state? This is basically an act of desperation which will be wrapped under some fanciful class warfare and sadly also rife with cut outs to avoid offending specific groups. If they would clamp down on industries rife with funny money accounting, namely the music and movie industry, they might not have to go after individuals. However people always think this will stay at certain income and wealth numbers don't fully understand who exactly is paying the bills. While it easy to point to this percentage of people paying half the money the rest is equally important. Example, in NYC it is estimated that eighty percent of taxes is from less than twenty percent of people earning a hundred thousand per year. While skewed to the much higher end the fact is this eighty percent on income taxes is twenty two percent of the total tax revenue in the city. Finally, all of this that is happening in California is on top of a thirteen percent marginal rate which is highest in the country being over half again as much as New York.