Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden

[rangerrebew]

Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State
Under plan, residents who leave state would still pay taxes for up to ten years
 

By Charles CreitzFOXBusiness
Proposed California wealth tax would impact millionaires even if they move out-of-state

California Assemblymember Rob Bonta (D) details a new proposed wealth tax that would continue to tax Californians for 10 years after they move out of the state.

Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto: Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.

The Alameda Democrat told Cavuto the proposed tax "affects about 0.15% of the California population -- not the top 10%, not the top 1%, the top .15%, about 30,000 people" and would generate $7.5 billion in revenue for the state.

The host asked Bonta what will prevent the ultra-wealthy from continuing to "bolt" from California as taxes continue to rise.

https://www.foxbusiness.com/fbntv/neil-cavuto-california-rob-bonta-wealth-tax

[rangerrebew]

If it affects one person, it is a bad tax.

[PeteS in CA]

The Alameda Democrat told Cavuto the proposed tax "affects about 0.15% of the California population -- not the top 10%, not the top 1%, the top .15%, about 30,000 people" and would generate $7.5 billion in revenue for the state.

That the theft affects a tiny % of a community does not justify the theft.

Those who would be affected right now (the number affected and the % of the theft will grow in a year or three) are the people in California most able to pull up stakes and leave. If the amount stolen is as much as a half of what Bonta claim I'll be surprised. His district includes Oakland, Alameda, and San Leandro, so its among the more loony-Prog districts in California.

[catfish1957]

I actually find this pretty funny.

Say I was a Californian, and left with all my assets  to another state.  Under what legal authority, could they confiscate in the destination state?  I guess technically they file a lien for back taxes owed, but even that would be a joke and a logistics followup nightmare on behalf of the stupid state trying.  And allowing the IRS to infer satellite powers to enforce?  That'd be a 10A battle royale.

[DB]

That the theft affects a tiny % of a community does not justify the theft.

Those who would be affected right now (the number affected and the % of the theft will grow in a year or three) are the people in California most able to pull up stakes and leave. If the amount stolen is as much as a half of what Bonta claim I'll be surprised. His district includes Oakland, Alameda, and San Leandro, so its among the more loony-Prog districts in California.

Taxes was the primary reason I moved out. And it was clear they were only going to demand more to pay for all their pet projects.

[GtHawk]

Taxes was the primary reason I moved out. And it was clear they were only going to demand more to pay for all their pet projects.

Much as I love my kids and grandchildren I just don't see how I can continue to live in California after my mother dies. Oh it will be a fight with my wife but each year she becomes angrier with the lunacy and theft by our democrat overlords and edges closer to the bailout door.

[skeeter]

That the theft affects a tiny % of a community does not justify the theft.

Those who would be affected right now (the number affected and the % of the theft will grow in a year or three) are the people in California most able to pull up stakes and leave. If the amount stolen is as much as a half of what Bonta claim I'll be surprised. His district includes Oakland, Alameda, and San Leandro, so its among the more loony-Prog districts in California.

Of course the rat clowns in Sacramento would never think of lowering the brackets next year in an effort to get more money would they.

I loved the way this idiot thanked Cavuto for saying how beautiful his state is, as if he somehow made it himself. Indicative of the attitude CA rats have concerning their state and untermench tax subjects.

[DB]

Much as I love my kids and grandchildren I just don't see how I can continue to live in California after my mother dies. Oh it will be a fight with my wife but each year she becomes angrier with the lunacy and theft by our democrat overlords and edges closer to the bailout door.

I took my mother with me.

[GtHawk]

I took my mother with me.

Yeah, great if you can, but mine is mine is 89 and in poor health, not only would she refuse to go she needs to be able to live as she wants to and not change her routine for others..............at least until she can no longer live on her own. Since I am her care taker, my older siblings either no longer physically/mentally capable or just do damn self centered, here I stay for the duration.

[DB]

Yeah, great if you can, but mine is mine is 89 and in poor health, not only would she refuse to go she needs to be able to live as she wants to and not change her routine for others..............at least until she can no longer live on her own. Since I am her care taker, my older siblings either no longer physically/mentally capable or just do damn self centered, here I stay for the duration.

My mother is 85. Sometimes elderly parents have to compromise a little.

[sneakypete]

Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State
Under plan, residents who leave state would still pay taxes for up to ten years
 

@rangerrebew

In what universe is something like that even vaguely legal?