Versión Español
Spanish – You can check out any time you like, but you can never leave. So says the chorus of the song Hotel California. What used to be a nostalgic melody is soon to become a nightmare.
The California legislature is considering an estate tax for residents and even applying it to those who stay in the state for more than 60 days.
According to a Wall Street Journal column, Assembly Bill 2088 proposes calculating this tax based on net worth every December 31.
More crazy California news. Legislature is considering a wealth tax on residents, part-year residents, & anyone person who spends more than 60 days in the state. Those who move out of state will still be subject to tax for ten years. ?
https://t.co/zXWpVifhOg— Christina Sommers (@CHSommers) December 20, 2020
For temporary residents, the tax would be proportional to their number of days in California. The annual tax would be applied on current net worth and therefore would include wealth earned, inherited, or obtained through gifts or inheritance long before and long after leaving the state.
It applies over a period of ten years. So if the person decides to leave, he/she will not be able to avoid the payment. They will have to continue to contribute to California taxes.
The tax would apply to all: students attending college in California, anyone undergoing a major medical procedure in a California hospital and needing an extended recovery period in the state, and those spending two months in California, away from the winter cold of New York or London.
Under California tax law, there is no distinction between a non-resident of Minnesota and a non-resident of Dubai.
In other words, regardless of nationality, anyone who lives more than two months in California will be subject to tax.
Geographically, California is the most left-located in the U.S., and the same politically speaking.
Given their increasingly high taxes, technology companies have fled en masse. They have moved to Texas, for example, where Houston has become the new Silicon Valley, and also to Arizona.
Businesses are fleeing California and flocking to #Texas.
That’s because, in TX, we know that lower taxes and fewer regulations lead to greater prosperity and economic growth for all.— Senator Ted Cruz (@SenTedCruz) December 14, 2020
To prevent this capital flight, the local government seeks to hold taxpayers captive.
The truth is that California’s tax policies have impoverished its residents, particularly those who have the least.
It is the state with the highest incidence of people sleeping on the street. In fact, 100% of the U.S. cities with the most people sleeping on the streets are governed by the left.
Since the United States has a federal system, the economy of each state has its own administration, and despite the general welfare that increased in the U.S. under the administration of Donald Trump, in the states governed by the Democratic Party, the difference is abysmal, and the humanitarian deficiencies are notorious.
The 80% of the cities with the highest rate of homelessness are in California: San Francisco, Los Angeles, Santa Rosa, and San Jose. On the same west coast is the fifth most homeless city, the most “progressive” in the U.S.: Seattle, where Antifa and Black Lives Matter activists took over to declare a police free zone, sparking a wave of violence.
The unrest of the most needy and the exodus of the most wealthy makes it clear how progressivism has nothing to do with progress. To the point that soon one could not even escape the clutches of the California treasury.
