Until now there were only two things that were certain
Death and the end of life closing curtain
In California Blues are trying to increase the list to three
A wealth tax even if from the state the wealthy chose to flee
California Progressive Blue Assemblyman Alex Lee claiming the ultra-rich little
taxes pay
Though the 92,322 tax returns with over $1 million income pay over 39% of taxes
wants to more tax revenue collar
Has introduced a bill to impose a 1.5% wealth tax on worldwide
assets in excess of 1 billion dollars
In 2026 the asset floor drops to $50 million with a rate of “only 1%”
Should not take a rocket scientist to know why the billionaires
from the state went
Taking their assets, income and wealth and job creating abilities along
With super majorities in both houses Reds will have little chance to stop this
wrong
Lee’s Bill which seeks to recover taxes after residents have left the state
Will constitutional challenges to its enforceability await
Anyone smart enough to $1 billion of wealth create
Should react like the straw breaking the camel’s back and migrate
To states with friendlier business regs and lower tax rates
Smart enough to predict that when it comes to tax the rich goals it will never
sate
California will its middle class but now also its upper income and high wealth
class
Its standing of the Golden State a magnet to wealth creation become a thing of
the past
Now the Iron Pyrite State with the Golden Goose now killed
Thanks to a Banana Republic Blue government and Alex Lee’s misguided bill
© 1/23/2023 Michael P. Ridley aka The Alaskanpoet
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