California is looking to impose a Wealth Tax as Elizabeth Waren had proposed which is Piketty’s idea which is supported by Schwab’s World Economic Forum in Davos. This will be on worldwide property – not income. The tax rate annually will be 0.4%. Even if you lose the money you will be taxed every year in addition to income taxes which are already the highest in the United States.
The problem here is not just worldwide income, California went after people who retired and left the state. They argued that their retirement income was previously earned in California so you had to pay California income taxes on your retirement funds even if you left California. This is the ultimate tyranny. You are paying taxes as a slave owned by6 California. You are NOT paying your fair share because you are not using the state’s resources or benefits. This is once again – taxation without representation. You will have no right to vote in California because you are not a resident. Nevertheless, this is the TRUE view of socialists – you are the property of the state. Socialists do not tolerate classes. Their core belief is everything belongs to them. My family fought in even the American Revolution. This is precisely what they fought against.
These governments are looking at the very same scheme to continue to tax you on the worldwide property even if you leave. I strongly advise you to move to a Red State ASAP. Florida has a lot of retired people so the politicians are more constrained. It may be your last chance. California Dreaming is now all about them and how they dream of new ways to exploit you even more.
States have lost income because of their stupid COVID lockdowns. Of course, they never reduce their expenses and after wiping out people’s jobs, they are looking to make up their losses in revenue with new creative ideas. As I warned, people simply began walking away from their property in Rome because of such corruption like this. Those in power only see their own power and self-interest. This is why we need so desperately to eliminate career politicians. Until that happens, there will never be a government of “We the People” no matter what.
Let’s be honest here. There is NO way any state government will ever STOP raising taxes. They are incapable of ever seeing themselves as the source of the problem. The audacity to try to continue to tax people forever because they once worked in California is the ultimate tyranny. They reduce everyone to just their economic slaves to be exploited with no connection to paying for common infrastructure or expenses since you use nothing when you leave.