3 ms·

Do you have a citation for such an extraordinary claim? Who do you mean by "they" and "a few years ago"?

• Izkata 3y ago
  See 50310(b)(1) on https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB2088 https://leginfo.legislature.ca.gov/faces/billTextClient.xhtm... And I meant exactly what I said: there's only one third party in this conversation, California, and 2020 is "a few years ago".
  • PopAlongKid 3y ago
    To state that this was a proposal to tax "anyone moving out of [the] state" is patently false. It would have only applied to people over a very high wealth threshold, $30,000,000. You also omitted that this would be a wealth tax, not an income tax. Big difference. Income is determined on an annual basis and is usually sourced to where it is earned. Wealth is an accumulation over years, including unrealized or unrecognized (for tax purposes) income from various sources (e.g. different states). Finally, this was a failed bill submitted by a few legislators, which would have required 2/3rds vote in both chambers. It never even made it out of the chamber of origin and so never came up for a full vote. So, "California" in fact did not "try" to impose this tax, since it was never even close to passing under California's rules, let alone being signed into law. And as several commentators elsewhere have observed, it would probably face significant challenges in court even if there was some alternate universe where it was CA law. See also: https://www.natlawreview.com/article/why-wsj-attacking-dead-bill https://www.natlawreview.com/article/why-wsj-attacking-dead-... https://scocablog.com/exit-taxes-in-california-not-so-fast/ https://scocablog.com/exit-taxes-in-california-not-so-fast/