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“I’m moving out of state”: employees are trying to avoid California income tax

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Re: “I’m moving out of state”: employees are trying to avoid California income tax

#31

Post by j-c-hewitt »

octonion wrote: post #8
tenpies wrote: post #4

Earlier quoted context omitted.

And 99% of the world would act in the same way if they had the luxury of that problem. I understand why Leftist populists love attributing some sort of exceptional immorality to the wealthy, but people act on incentives. Give them an incentive to leave and they will leave.

If you live in California, you obey California laws or you go to California jail. If you don't agree with what California has decided is necessary for a healthy society, you have states like Mississippi and Louisiana to choose from. Good luck finding a high-paying job there.

Nonsense. They just send collectors after you unless the delinquency is epic in scale, and even then, they just send better collectors after you unless you show some kind of contempt.

What a bizarre mentality. Enjoy having a large portion of your 'high paying job' eaten up by real estate costs and taxes while people who move out of CA laugh at you all the way to the bank.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#32

Post by kristianc »

tenpies wrote: post #4
AlexandrB wrote: post #3

> The state of California treats capital gains just like any other income, levying a 13.3 percent state tax on sales of stock. For someone sitting on tens of millions of dollars in private stock — life-changing money for some — it’s not a small concern. Yes, it literally is! It's 13% - that's about the same as sales tax in many places and nowhere near AOC's 70% tax. This is greed, plain and simple. 99% of the world w…

And 99% of the world would act in the same way if they had the luxury of that problem. I understand why Leftist populists love attributing some sort of exceptional immorality to the wealthy, but people act on incentives. Give them an incentive to leave and they will leave.

Quite - Leftists reframe the question "Why do you need that money?" when the one we should be asking is "Why is the state entitled to it?"

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#33

Post by jfk13 »

kuhhk wrote: post #11
AlexandrB wrote: post #3

> The state of California treats capital gains just like any other income, levying a 13.3 percent state tax on sales of stock. For someone sitting on tens of millions of dollars in private stock — life-changing money for some — it’s not a small concern. Yes, it literally is! It's 13% - that's about the same as sales tax in many places and nowhere near AOC's 70% tax. This is greed, plain and simple. 99% of the world w…

>It's 13% - that's about the same as sales tax in many places No, not really.. You're free to choose states with sensible department of revenues. Wyoming has a 4-6% sales tax, nowhere near the 13% you're arguing about. If capgains of 13% is levied upon 10mil, that's 1.3mil.... while Wyoming's 4-6% sales tax is (obviously less than half that) only levied upon actual purchases (which in practice is way lower).

If I'd hit the startup jackpot and found myself with $10M of stock, and wanted to turn it into cash, I think I could afford $1.3M of tax. The remaining $8.7M would keep me pretty comfortable for now.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#34

Post by sodosopa »

commandlinefan wrote: post #20

Yeah, the big fear here in Texas is that they're all going to move down here with their California liberal sensibilities and vote in a state income tax here, too.

It’s becoming more purple instead of a red or a blue state, so it wouldn’t take much.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#35

Post by influx »

commandlinefan wrote: post #20

Yeah, the big fear here in Texas is that they're all going to move down here with their California liberal sensibilities and vote in a state income tax here, too.

Likewise here in Washington state. All the Californians are fleeing here and implementing the exact same polices that drove them to leave. Odd.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#36

Post by cptskippy »

scottlocklin wrote: post #9
outside1234 wrote: post #2

Good luck with that - if you have a California license plates, drivers license, or they can prove you show up pretty frequently to a California located job - you are going to get caught doing this and fined extensively. Also, WTF: You took advantage of all of the infrastructure of a state to get rich and now you don't want to contribute back? Shame on you and may karma come around for you.

Lol, have you ever actually been to California? The infrastructure was all built in the 1960s, and appears to have been abandoned as thoroughly as the Roman aqueduct system after the barbarian invasions. Easily the most corrupt state I've ever seen; most of the money goes to buying votes.

What specifically about the infrastructure are you objecting to besides the aesthetic?

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#37

Post by vidarh »

kuhhk wrote: post #11
AlexandrB wrote: post #3

> The state of California treats capital gains just like any other income, levying a 13.3 percent state tax on sales of stock. For someone sitting on tens of millions of dollars in private stock — life-changing money for some — it’s not a small concern. Yes, it literally is! It's 13% - that's about the same as sales tax in many places and nowhere near AOC's 70% tax. This is greed, plain and simple. 99% of the world w…

>It's 13% - that's about the same as sales tax in many places No, not really.. You're free to choose states with sensible department of revenues. Wyoming has a 4-6% sales tax, nowhere near the 13% you're arguing about. If capgains of 13% is levied upon 10mil, that's 1.3mil.... while Wyoming's 4-6% sales tax is (obviously less than half that) only levied upon actual purchases (which in practice is way lower).

> No, not really..

Seeing as they're talking about 99% of the world elsewhere, it is reasonable to consider sales tax and VAT other than just the US. The vast majority of the worlds population live in countries with VAT rates at or above 13%

Only 3 European countries have VAT rates below 17% (Liechtenstein, Andorra and Switzerland). 19 countries in the Americas have VAT rates at 13% or above. 16 Asian countries (including China and India) have VAT rates at 13% or above. Only 8 of 55 African countries have VAT below 13%

Most also have capital gains tax and dividend taxes well over 13%

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#38

Post by mikestew »

commandlinefan wrote: post #20

Yeah, the big fear here in Texas is that they're all going to move down here with their California liberal sensibilities and vote in a state income tax here, too.

Maybe you could walk me through the thought process of how a person fleeing an area for $REASON would then turn around and try to institute said $REASON in their new home. Because not a single Eastern European immigrant I knew in the 80s thought Communism was a good idea.

So you’re either being facetious and I fell for it, or Texas could use a state income tax to bump up their public education game.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#39

Post by scottlocklin »

bob_theslob646 wrote: post #23
scottlocklin wrote: post #9

Earlier quoted context omitted.

Lol, have you ever actually been to California? The infrastructure was all built in the 1960s, and appears to have been abandoned as thoroughly as the Roman aqueduct system after the barbarian invasions. Easily the most corrupt state I've ever seen; most of the money goes to buying votes.

You are not wrong, but by per capita it is less. Page 26. UNITED STATES ATTORNEYS’ OFFICES FEDERAL PUBLIC CORRUPTION CONVICTIONS BY DISTRICT OVER THE PAST DECADE ( https://www.justice.gov/criminal/file/1096306/download )

Funny Texas looks comparable at a glance in number of corruption convictions, and somehow manages to do this at 0% income tax rate. Kinda rankles less when you don't have to pay for it.

Re: “I’m moving out of state”: employees are trying to avoid California income tax

#40

Post by octonion »

commandlinefan wrote: post #20

Yeah, the big fear here in Texas is that they're all going to move down here with their California liberal sensibilities and vote in a state income tax here, too.

Texas has the highest maternal mortality rate in the developed world, so perhaps that would be a good thing.
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