California wealth tax on those who leave the state

https://www.sambrotman.com/blog/california-exit-tax#:~:text=The%20California%20exit%20tax%20is,%2C%20stocks%2C%20and%20other%20investments.

This tax policy will be a short term winner for California tax revenues.  I liken this policy to Venezuala and other like countries which simply steal private businesses and suddenly the government is in the oil business.  It's great for the country in the short term, but it puts a quick end to outside companies from doing business there.

Who in their right mind would move a lucrative company to California?  What billionaire would relocate to California?  California is making it painful to leave, and they are also assuring a business sector death in the future.

Here is a summary of it, that I found.

https://fastdemocracy.com/bill-search/ca/2023-2024/bills/CAB00028283/

Basically you get taxed 1% if you make $50,000,000 and an additional .5% if you make over $1 Billion.  Would be interesting to see how many people or businesses get taxed at this level. 

Not saying I agree with it, but it's not like it's happening to a whole lot of people. 

Just another trivial attempt by some to diss on Democratic-led California.  

  Actually, this is ANOTHER nail in the coffin utilized by the DemocRats as they find another way to finance their way out of the results of their previous moronic governmental decisions - all at the expense of tax payers. Keep voting DemocRat if you want more of the same...

It's trivial.

  You are, of course, referring to the majority of your comments as to worthiness and content...

You are correct that it is not happening to many.....that is their plan.  The problem they have is that rich will never move there and companies won't expand there.  Others will cut their loses and move out.  When you sell a $5,000,000 house I believe they tack on a 4% charge.

And realize that the wealth tax happens each year.

    It is obvious that the DemocRats want those who are too stupid to realize that they are getting gutted each year, just for the priviliege to live there, to stay. Just how ignorant can one be? The smart ones leave - the sheep remain....

FUN FACTS

States with highest household income:

1) Maryland

2) Massachusetts

3) New Jersey

4) New Hampshire

5) California

States with lowest household income:

46) Alabama

47) Arkansas

48) Louisianna

49) West Virgina

50) Mississippi

Dont ya just love it when the trailer park crowd lectures the successful people on how to be successful?

  What is enjoyable and indicative is that more people are moving away from the "highest income" states to the "lowest income" states because thay are smart enough to know that the "highest income" states will be forever increasing the tax burden on those who stay in order for these DemocRat run states to continue to ruin each state. Those who move to the "lowest income" states will find life much more enjoyable and inexpensive. Don't you just love it when smart people make the right decisions and ignorant people keep voting DemocRat?

Don't you just love it when the inbred goober Trumper crowd from America's trash states gets jealous of California?