CA millionaires to pay for $16Billion shortfall

[CA Gov. Jerry] Brown this week submitted more than 1.5 million signatures to place the tax measure on the ballot. It would temporarily raise the state sales tax, already the highest in the U.S., to 7.5 percent from 7.25 percent. It would also boost rates on income starting at $250,000. The 10.3 percent levy on those making $1 million or more would rise to 13.3 percent, the most of any state.  Bloomberg

okay. Let’s start with the word TEMPORARILY. When has a tax been temporary? According to Wikipedia:

After the tragic Johnstown (PA) Flood: As a result of the damage from the 1936 flood, the Pennsylvania General Assembly imposed an emergency tax on all alcohol sold in the Commonwealth. The “temporary” 10% tax was initially intended to help pay for clean up, recovery, and assistance to flood victims. The tax still exists and in 1963 was even raised to 15% and again in 1968 to 18% (not including the statewide 6% sales tax). The nearly $200 million collected annually no longer goes to flood victims, however, instead going into the general fund for discretionary use by lawmakers.[8]

So much for targeted temporary taxes, huh? (But you can pat me on the back for great alliteration!)

But back to California and Gov. Moonbeam… this millionaires tax will likely make the ballot this November and according to this website no millionaires will be leaving CA. All their studies show that raising taxes on the wealthy does not result in a millionaire exodus. So Nevada and Arizona (but especially Nevada because there’s no state income tax there) can breath a sigh of relief that none of those do-gooder progressives will be invading their states, right?

Wrong.

Nevada has gone from a solid red state when we moved there in 1989 to an almost solid blue state and all thanks to the influx of Californians. Not to mention the Hollywood elites who are now opting to spend their film making dollars in Canada because it’s cheaper to film movies there than in the U.S.

We’ll see who stays and who goes if California raises this tax. The facebook co-founder has already unfriended the US and taken off for Singapore to avoid paying capital gains and other taxes on his investment. It ‘ll be interesting to see how this plays out.

 

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17 responses to “CA millionaires to pay for $16Billion shortfall

  • nooneofanyimport

    facebook founder has unfriended the US, ha! you have a way with words, Roxy.

  • Cry and Howl

    You’d think Californians would have learned the first time around with Gov. Brown ….

  • Bob Mack

    Libs never learn, do they? They spend themselves into oblivion, then want to tax everyone else into it with ’em. Ah, well, Happy Mother’s Day.

    • roxannadanna

      Thanks Bob! Hope you had a great weekend!
      Californians (for the exception of a few conservatives I know who live there) are socialist by nature. They just can’t help themselves.

      But why one will come to a conservative blog and post is beyond me. They won’t change anyone’s mind here — that’s for damned sure!

  • My, Oh My: Obama Gives Reelection-Mortgage Speech in Front of Couple’s Nevada Home, Wife Not Sure She’ll Vote for Him (video) « Frugal Café Blog Zone

    […] Occupy movement rally, Mr. President. Perhaps wealthy, A-list actor George Clooney and other California millionaires could join you in Oakland or New York City. On the other hand, if you’re concerned that the […]

  • Conservatives on Fire

    If California want to reduce their debt, they should double the tax on state employees. I lived in Nevafa from 1985 to 1990. I witnessed what you are talking about. californians invaded Clark County and changed the state’s politics from conservative to “progressive”. Some progress!

    • roxannadanna

      No kidding!! You saw what we saw…. people coming from a place that made them miserable to a another state (Nevada) they created to make themselves – and all the rest of us – miserable too! Unbelievable. You’d think they’d have learned something! But NOOOO. They came to Nevada and tried to infest us with their NO SMOKING in the casino law that lasted about 6 months until the casinos realized how much money they were losing.

      Dumb clucks anyway. I sure wish they’d all go to Oregon and leave us the hell alone out here.

  • walthe310

    Check your history books. In California, a temporary tax increase is temporary. Your Pennsylvania example does not apply. Having lived in California for 38 years I have some on the ground experience. What is your experience?

    • AFVET

      I know you, you cannot resist infesting conservative blogsites.
      What happened to anyway ?
      Did your mother reject you ?
      Why do you insist on antagonizing conservatives ?
      During the Spanish/American War the people that were rich enough to have a telephone were taxed. That was supposed to be temporary to pay for the war.
      Check your phone bill, were they ‘temporary’ ?

      Your problem is that you have lived in California for 38 years.
      My my, haven’t you achieved enough intelligence by now to have escaped that environment ?
      Maybe not.

      Go away walthe310.
      You are wasting our time.
      We have a Country to restore.

    • Dena

      We can read. We can see the differences between red states and blue states. Roxy saw first hand what people from California did to the state of Nevada. Wealthy people are leaving New York in droves. It’ll happen to you folks, too.

      • roxannadanna

        😉 Thank you Dena! You and I know – there’s no such thing as a TEMPORARY TAX. And that high taxes cause people to move elsewhere. Look at the French. They are now eying moves out of France because of the proposed hike in taxes there by the new socialist government.

  • Freedom, by the way

    Such a shame because CA has so many natural resource blessings, but the left is making in uninhabitable.

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