Typhonis
Well-known member
Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State
Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto: Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.
www.foxbusiness.com
To quote part of the article
"Fox Business Network anchor Neil Cavuto questioned California State Assemblyman Rob Bonta on "Cavuto: Coast to Coast" Friday over his proposal to institute a 0.4% wealth tax on Golden State residents worth more than $30 million.
The Alameda Democrat told Cavuto the proposed tax "affects about 0.15% of the California population -- not the top 10%, not the top 1%, the top .15%, about 30,000 people" and would generate $7.5 billion in revenue for the state.
The host asked Bonta what will prevent the ultra-wealthy from continuing to "bolt" from California as taxes continue to rise. "
Do these IDIOTS not realize how money works? How will they plan to collect the money if they do move away? Also, what do they mean for Ten years? Does that mean someone leaving California tomorrow will still pay the tax for the next ten years to California? I smell tons of lawsuits if this passes.