From Political Pistachio:
Ronald Reagan knew that government was (and still is) the problem, not the solution, to the problem. He once said, "Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And, if it stops moving, subsidize it."
In California the economic and social environment has become so hostile to many, that a mass exodus has begun. People are leaving California in droves, as the illegal aliens gladly move in to set up their squatter villages.
The left has taken control of California, and the state has become a battleground in America's war over values. Californians have been pushed with their kindness, their willingness, their openness, their leniency toward aberrant behavior, government control, and out of control taxation. When is enough enough?
The Liberals in California act upon all of their urges in all situations, letting it all hang out, following their guiding principle: If it feels good, do it. Anyone who disagrees is labeled a bigot, and then is run out of town, or at least pressured to do so if they don't wish to participate in the antics of Hollywood and San Francisco, California's own Sodom and Gomorrah.
Those that have self-respect and want better for their families, neighbors, and the sake of the country, are leaving. Those of the Right have values that keep them from taking a drink, lighting up a joint, or hopping in the sack with anyone that wants them to. Conservatives, more often than not, are the kind of people that drop to their knees and pray for strength, rather than give in to the worldly debauchery.
And as these people of values do what they can to escape California, as well as owners of successful businesses who have found it more and more difficult to conduct business in California because of all of the regulations and fees and taxes, the Liberal Left is doing what it can to take what it can from them as they leave.
A ballot proposal is underway in California that would amend the State Constitution with a Wealth Tax. Specifically, this is an additional tax to be levied against high valued property, and high income (between 36.5% - 54.3% one-time tax) should a resident die, or decide to leave the State of California.
The writer of the proposal is a CPA and liberal activist by the name of Paul McCauley. In addition to taxing folks for trying to get out of California (or simply dying, for that matter), the proposal imposes an additional 17.5% tax on total incomes of taxpayers with income exceeding $150,000 (which, considering the cost of living here in California, that is not really that high of an income) if single, or $250,000 if married; imposes an additional 35% tax if income exceeds $350,000 for a single person or $500,000 for a married couple, and requires the State to acquire shares of specified corporations to influence environmental policies and practices.
No wonder right-minded people are trying to get out of this idiotic State.
Why would anyone want to live in California with the rules we have, especially if this proposal were to pass?
The Liberal Democrats are basically saying that the American dream is a bad thing, and they will make it impossible to achieve such. And, if by some remote chance you do reach that dream, and become highly successful and prosperous, the government is going to step in and make sure you pay for it heavily so that you will never really truly get there.
This proposal is California's way of saying, "Hey, welcome to success, cough it up before you enjoy it, please. How dare you succeed!"
Give me a break. A 55% wealth tax? Hollywood folks won't mind that too much because they have so much frickin' money they use it as kindling in the fireplace. As for the rest of us, under this rule, that is a lot of money to have to cough up - and if your business is barely operating in the black because of all of the regulations and fees already imposed, the soup line is right around the corner.
An exit/death tax? Are you kidding me? Since we want to get the heck out of Dodge, they are going to try to fence us in with this? And then if you couple this with the Federal Estate tax, in the end, no one can financially afford to die. So much for me being able to leave anything to my kids. Also, if Business "A" moves from San Francisco to New York the CEO has to cough up at least a 36.8 additional percent of both income and the unrealized appreciation he may have in asset that are valued in excess of $5 million. Remember, he is already paying 90% plus (With a producer's existing Federal Income taxes, existing State Income taxes, payroll taxes and the many other taxes imposed, high producers will be lucky to net much of anything on their earnings. A self-employed individual could have a marginal tax rate in excess of 90%. Could you live on 10% of what you make?). This part of the ballot proposal was added to prevent a mass exodus that is already happening. A lot of money is leaving California because of the unfriendly environment to business and success, and they are simply trying to stop the bleeding.
And keep in mind that the businesses being targeted by this, those horribly successful corporations that are somehow ruining America in eyes of the idiot Left, are the individuals that are producing growth and jobs. These targeted businesses that are now finding it hard to do business in California are the major driving forces behind the State economy. A tax like this removes all of the incentive to do any of these things, and is simply another reason to get out of California. In the end, these entities with either move to another state, or they will stop producing.
Why work extra hours to make a measly 10% of your earnings when you could spend it with your friends and family elsewhere?
The goal of this proposition is to gain revenue from the rich, give it to the poor, and keep anyone from leaving the State of California. Idiotic taxes like this ballot proposal actually do the opposite of what they desire. Instead of gaining revenue, they scare away more of the businesses that keeps this economy moving, which in the end takes away more jobs, and leaves more people in the poor-house. The left doesn't seem to understand that a profit driven economy needs profit to survive. The American Dream is all about that profit. Removing any and all rewards for producing and making more money will only do one thing - turn the high producers into takers, and make more people poor.
Democrats believe there is a class war going on, and wishes to eliminate the classes so that we can all be the same. At the rate they are going, they will be a rousing success soon, because the class war will soon come to an end because there won't be any rich left. In the end, there will no longer be any disparity between the classes because we will all be poor - except for those elitist politicians who will rule from the top with the absolute power of regulations, fees, and taxation.
~Douglas V. Gibbs~
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