California Aiming To Tax (Confiscate) Wealth And Take A Piece Of Your Income Even If You Leave

From the “Just When I Thought They Couldn’t Get Any Stupider” Department comes this from California.

California Proposes Creating ‘Tax Prisoners’ - You Can Move Away, But You’s Still Be Taxed For 10 Years.

You probably already have heard of the California proposal. It would be a 4 percent tax on the net worth of those with more than $30 million and would hit about 34,000 people.

Whew! That won’t hit me, you’re saying.

But one feature of the bill is outlandish and, if it set a precedent for other taxes, it could impair the freedom and mobility of citizens. You see heretofore we have a choice on where to live and pay our taxes. But the California proposal is special: moving a way won’t help. California would tax you even if fled for fairer taxes elsewhere.

It would impose the tax for ten years after the former resident sets up in another state.

So they would tax assets, assets bought with money that had already been heavily taxed by California? This would be a second tax on money that has already been taxed. The reasoning behind this insane idea?

[State Assemblyman] Bonta argued that the state deserves part of the wealth accumulated in the state.

WTF? The state “deserves part of the wealth”? The state didn’t make that wealth. The state already taxed that wealth. Now they want more. It’s called ‘theft’. And on top of that, they want to keep stealing that wealth for 10 years after a resident has packed up and left.

Do the looters infesting California’s Assembly really believe they’ll be able to get away with doing something like that? Isn’t that akin to indentured servitude, something outlawed by the 13th Amendment back in 1865? Is it akin to Directive 10-289 as described by Ayn Rand in Atlas Shrugged? Do The Powers That Be understand that novel was meant to be a warning and not a “How To” manual?

I figure it will only be a matter of time until the Assembly lowers that limit until it hits everyone regardless of their income or ‘wealth’. If they do, they will see the exodus already taking place turn into a flood of people, businesses and wealth fleeing the state now being run by pirates, thieves, and con artists. Everyone will pick up and leave...unless the Pyrite State enacts their own version of Directive 10-289 and enslaves the citizenry.

Frankly, I wouldn’t it past them to do just that “for the good of California”. It’s Schlicter’s People’s Republic coming into being.