California initiative: 45% Income Tax, 55% Wealth Tax & 36%-54% Exit Tax

Discussion in 'Politics & Religion' started by GTG, Aug 27, 2008.

  1. GTG

    GTG

    http://taxprof.typepad.com/taxprof_blog/2008/08/california-acti.html

    I know it has a snow balls chance in hell at becoming law, but still this leaves me feeling a little uneasy, that possibly some day in the right political climate something similar could pass some day.
     
  2. Arnie

    Arnie

    My God, I love it!!

    California deserves nothing less!!:D :D
     
  3. Cal is going to pass tax increases beginning in 2009 however. The state is 10 billion in the hole, and has already announced that taxes will be going up. Given that it is now second only NY in tax burden, that is scary.

    And why I am leaving the state before 2009!
     
  4. for 2008, calif's total tax burden ranks it #6. nj is #1.

    http://www.taxfoundation.org/news/show/335.html

    you can move to alaska, they're lowest.
     
  5. All I care about is income tax. The pay as you go shit doesn't bother me, and I move too often to buy a home (don't want one anyway).

    Just looked it up, and I stand corrected. It was Vermont that had higher income tax than Cal. No one else. However, if you make over 1 million, Cal is highest in the nation at 10.3%. I'm not quite there yet.

    I think I'm going to either Durango or Crested Butte, CO. 4.68% tax. Yes, this makes a difference to me. I despise taxes.

    http://www.taxadmin.org/fta/rate/ind_inc.html
     
  6. Well get used to them going up everywhere -- we've got five years of off-budget adventurism to pay for.