Thursday, August 20, 2020

Will these idiots never learn?

Meanwhile, progressive state legislators have introduced a wealth tax that would fall on Californians with a net worth of $30 million or more. 

 “[California’s] astounding level of income and wealth inequality is the best, most compelling argument in favor of Assembly Bill 1253, which would raise personal income taxes on the state’s top earners,” wrote Los Angeles Times columnist Nicholas Goldberg in defense of the proposal. “Sure, we have high taxes on the rich already — but California has enormous needs, not to mention an impending budget crisis, and the rich have deep, deep pockets.”
And do you know what those deep pockets mean?
When one considers that nearby states such as Nevada have no income tax at all, the problem with this approach quickly becomes apparent. 

The legislation is basically a giant incentive “for California high-earners to take their money and run,” the Wall Street Journal editorial board wryly noted.
Exactly: it means they've got the money to get the hell out of that state and move somewhere else.  Like they're already doing in New York.

But they just won't learn.


Country Boy said...

“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” ― Winston S. Churchill

"Our tax system still siphons out of the private economy too large a share of personal and business purchasing power and reduces the incentive for risk, investment and effort--thereby aborting our recoveries and stifling our national growth rate." - John Fitzgerald Kennedy

"I've a feeling that any politician that understands the needs of this nation, and is willing to work to help this nation achieve those needs will lose all support in Washington." - Me

Dan said...

The problem with "no income tax Nevada" being right next door to Kali is those brain dead assholes keep moving here. They come here and vote for the same insanity that destroyed Kalifornia. Now we have that commie bastard Sisolak as governor and BOTH houses of the legislature firmly in the hands of the commie bastards. Sisolak locked down the state, shuttered the casinos which were the main source of the states income and trashed the economy. Now he and his commie conspirators are plotting to institute a state income "cover the shortfall"....a tax that will NEVER go away if he gets away with it.

Anonymous said...

The Bad Part of that is Californians leaving the state but infecting their future state with 'California Thinks'. Voting for policies which made them flee California in the 1st place.

Happening in Texas, especially the Austin area where Kali refugees have moved to. It turns Red states purple, then possibly blue.

Its a free country and the price we pay for it will be high.

B.C. said...

TX is a couple of decades behind us in FL, as far as the Commie Virus infection is concerned, but you're catching up quickly. Welcome to the club.