California Introduces Wealth Tax Forcing People to Pay Years After They Leave State

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Progressive California lawmakers introduced a bill last week that would impose a new annual tax on wealthy residents, even if they flee the state, Fox News Digital reported.

Think you can flee these brutal communist city/states? Not so fast….

The legislation, proposed by Assemblyman Alex Lee (D) and sponsored by nine other state Democrats, would require California residents with a “worldwide net worth” above $1 billion to pay an additional 1.5% yearly tax beginning in January 2024. As early as 2026, the tax threshold could drop to $50 million with an imposed 1% annual tax.

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California Introduces Wealth Tax Forcing People to Pay Years After They Leave State

Fox News: California lawmakers are pushing legislation that would impose a new tax on the state’s wealthiest residents — even if they’ve already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a “worldwide net worth” above $1 billion, starting as early as January 2024 (Fox News). Just the News: The tax will apply to every resident, regardless of whether they are in the state part-time or temporarily. It will also allow the state to pursue wealth taxes from former residents who built their wealth in California but moved. For those who move out of state and do not plan on returning, the wealth tax will be slowly decreased over several years “based on the percentage of days in the year the taxpayer was present in the state, plus the years of residence over the three previous taxable years,” the bill states (Just the News).

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Bill
Bill
1 year ago

Well, Musk won’t need to worry about it since he moved to texas. The people of California should be concerned as this is surely to spread below $1 billion in the near future. Let’s just see how smart Californian’s are.

wilhelm
wilhelm
1 year ago
Reply to  Bill

How smart? Most of them have been voting Demoncrat for the last 20 years!

Tesla_rules
Tesla_rules
1 year ago
Reply to  wilhelm

Members of religious cults always do what the cult leaders tell them. IN the future those member will be known as Eloi and will be eaten my the Cult leadership, who are known as Morlocks. Watch the Rod Taylor movie HG Wells’ “The Time Machine.” Wells was a Fabian Socialist and I have little doubt he was describing the future. The Eloi will be eating bugs, while they will be eaten by Morlocks like Bill Gates and Nancy Pelosi.

William KerrD
William Kerr
1 year ago
Reply to  wilhelm

If they had any brains they wouldn’t have a problem.

fir1
fir1
1 year ago
Reply to  wilhelm

I haven’t and I’ve got plenty of friends who are conservatives as well – most of us grew up here and remember when at one time this – was – a great place..

Grendel
Grendel
1 year ago
Reply to  wilhelm

That’s why I left California in 1972.
I did ‘visit’ in 1984 and again in 2011 ….. never saw any redeeming factor.

aMongoose
aMongoose
1 year ago
Reply to  Bill

Just like the income tax.
It was only to be paid by the rich.

fir1
fir1
1 year ago
Reply to  Bill

I’m interested to hear what your advice is as I surely signed every petition I could find to recall that POS newscum

THX 1138
THX 1138
1 year ago

Sounds like “Fatal Attraction”, “Well, what am I supposed to do? You won’t answer my calls, you change your number. I mean, I’m not gonna be ignored, Dan!”

has met “Hotel California”, “Welcome to the Hotel California, Such a lovely place, We are programmed to receive
You can check out any time you like, But you can never leave”

aMongoose
aMongoose
1 year ago
Reply to  THX 1138

Well you can leave,
Just your money cant

IntrepidD
Intrepid
1 year ago
Reply to  THX 1138

What do you care. You don’t have any real wealth anyway

turtlebrat
turtlebrat
1 year ago

Sounds unconstitutional to me but so much that the dems do is. All who flee the peoples’ republic of cali need to take all their money and possessions with them and leave nothing behind. Might be worth it to leave if one can pay a penny exit fee.

PlatinumGhostD
PlatinumGhost
1 year ago

Soon they will find a reason to tax people and businesses who don’t or have never resided in ca..

Tesla_rules
Tesla_rules
1 year ago

Gavin Newsom’s keeping it all in the family
https://calmatters.org/commentary/gavin-newsoms-keeping-it-all-in-the-family/

What do you get when four families run a state for more than 80 years? California
https://www.youtube.com/watch?v=trcSpd_YWIA

edD
ed
1 year ago

I may decide that I will pay taxes from this point forward….when Al “Skinny” Sharpton is finally forced to pay his taxes…

Edward
Edward
1 year ago

The Hoft Show with Pamela Geller was enlightening and memorable. Thanks.

Cowgirl Diva
Cowgirl Diva
1 year ago

HAHAHA…!! BULLS HIT…!!!

fir1
fir1
1 year ago

Interesting how those clowns don’t state what this new ‘ tax ‘ is supposed to be used for.Sounds like – shakedown – would be a more appropriate descriptor.

Snowedin
Snowedin
1 year ago

Did New York try something similar?

Grendel
Grendel
1 year ago

The State of California could have taxed them WHILE they were residents of the State ….. they cannot tax them while they are a resident of any other State.

If this holds, the Wyoming should tax everyone who crossed our borders at any time, for any reason.

Carlinwyo
Carlinwyo
1 year ago

Years ago, Rush got “dinged” the same way when leaving New York. Anytime he returned there, he had to prove on annual tax return what if any business he conducted, and was then (again) taxed. Get OUT of CA, now, completely !

IntrepidD
Intrepid
1 year ago

Good luck Mr. Lee

Terry
Terry
1 year ago

As long as California State has the ability to freeze & take money from your bank account even if outside of California they will get away with it. They simply fax a lien to every nationwide bank’s Corp. Offices in the country & the bank lawfully has to recognize the order. I left California in 2014 for Florida with no regrets. California is still “assessing income” & sending me an income tax bill every year with interest ignoring my repeated notice by mail, email, & phone. Best to get out & close all ties with California including a drivers license, in state mailing address, get rid of all property including cars, boats, homes, bank accounts, mail receiving in state, & get a drivers licence & proof residency in another state. Florida will work.

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