, could conceivably be a useful tool in a progressive tax system that seeks to narrow income inequality.at the other last-minute effort to raise taxes on the rich, noting that “there’s simply not enough time to properly vet such a major tax change before the pandemic-shortened legislative session ends on Aug. 31.” And that criticism goes double for the wealth-tax proposal.
Then there are questions about how to value assets that aren’t on the market, such as a business you own that isn’t listed on the stock market. The bill calls on the Franchise Tax Board to come up with a way to value non-publicly-traded assets, yet the tax would go into effect immediately. to solve it. Meanwhile, the simplest way to avoid the new California tax would be to leave the state and then challenge California’s authority to tax nonresidents for assets moved elsewhere.Perhaps more important, lawmakers are being asked to enact a major new tax without considering how it will interact with the other taxes on the books.
opinion People aren’t fleeing California fast enough? This tax will help with that.
opinion I’ve studied it. As a the wise old Willie Sutton put it, “because that’s where the money is”.
opinion DISTRACTION Please focus on Solution creating ways and opening more polls throughout the country for people to vote safely while the Apprentice is trying to dismantle voting by mail stop allowing these distractions FOCUS
opinion California just looks for ways to push away job and high tax and wage earners. Socialist state GavinNewsom
opinion Ya think! This could have significant long lasting effects and stunt Ca instead of helping anyone.
opinion Repeat after me: Everything the Left touches it destroys.
opinion Biden’s new economic alliance partner
opinion Nah! Tax the rich. And look into investors buying up all real estate, it’s time to curve the real estate market to allow Californians to buy and rent. These large groups often out of state and foreign are holding on to properties sitting empty or raising rents.
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