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California To Hit Startup Founders with Big Retroactive Tax Bills

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101–110 of 318 posts

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#101

We can't effectively manage a budget, give us more money!

Actually, California's budget is balanced and it expects a surplus in two years. http://www.nytimes.com/2013/01/11/us/california-balances-its...

It's only balanced based on projections. Check back in a year to see how realistic those projections were.

I'll be proud of California if it works out, but I have my doubts.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#102
post #66

Earlier quoted context omitted.

> applicability only to criminal cases Where do you get that? The Constitution says simply: "No Bill of Attainder or ex post facto Law shall be passed." Period, end of story. Just because someone on the Internet says this applies only to criminal law doesn't make it so.

How about the US Supreme Court: See Carpenter v. Pennsylvania, 58 U.S. 456 (1854): "The debates in the federal convention upon the Constitution show that the terms "ex post facto laws" were understood in a restricted sense, relating to criminal cases only, and that the description of Blackstone of such laws was referred to for their meaning. 3 Mad.Pap. 1399, 1450, 1579. This signification was adopted in this Court sh…

The Court gets things wrong occasionally. They got this wrong. Legislative intent does not trump the clear unambiguous wording of the law. This is why, for example, minting the trillion dollar coin would be legal despite the fact that this was clearly not the intent of the legislation.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#103

Earlier quoted context omitted.

Don't get me wrong, we will eventually get to the spot Europe is in if we don't make changes to our health care services of one type or another. We have however shown a remarkable ability to vote for people that tell us we can't afford things we can't afford. We took drastic austerity measures in the 90's and we actually voted for it - twice. I'm not too worried about our finances, once people get the numbers in fron…

A cohort of reasonable voters? You just keep racking up reasons to move there...

Vancouver has horrible housing affordability ratios (housing price : income), income is lower at the entry level for software by almost double compared to WA (MS can change that), cost of goods is about %15-%30 more expensive across the board. Housing prices are just now reversing because of stricter mortgage requirements. Interest rates are really low and an interest rate hike is just waiting to happen.

The reason why Vancouver is so bad for housing is because wealthy foreign investors see Vancouver as a stable store of value for their money. It's a complicated bank account for large sums of money.

Alberta is the money making place to be in Canada, since the resource industry & banking drives over %50 of the TSX. Rent is also a lot better in Alberta. But Canada is not a country right now to be a techie compared to the USA. It's a great place to be in the oil industry although.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#104
post #78
post #30

Earlier quoted context omitted.

Your state's gun laws prevent me from ever living there.

and you can't legally buy a Big Gulp. Seriously, and city/county/state govt that would do that, you can't trust them with your livelihood.

If the government thinks they need to tell you how big a drink you can have, and the citizens agree with it, there's something seriously wrong with both. OTOH, we have plastic bag ban in California and lightbulb ban federally, if I remember correctly, so it's not that easy nowdays to find a place to live where there's not something seriously wrong with it.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#105
post #79
post #38

Earlier quoted context omitted.

Unfortunately, I think you'll see more of these problems as states get crushed under their existing debt and new expenditures from pension obligations, etc. See: http://www.usgovernmentspending.com/compare_state_spending_2...

Perhaps defined-benefit retirement plans should not be in the public sector since they haven't been in the vast majority of the private sector for quite some time.

This is the exact same argument the supporters of Ohio Senate Bill 5[1] used. One reason people in the public sector are willing to be paid less than their private counterparts is because their benefit plans are genuinely better. Saying they should eliminate one of the better benefits public sector employees get is stupid.

[1] http://en.wikipedia.org/wiki/Ohio_Senate_Bill_5_Voter_Refere...

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#106
post #30
post #19

Come to New York! We're rolling in so much finance money we don't need to hit up small businesses.

Your state's gun laws prevent me from ever living there.

Take a look at the Great State of Texas. It is quite free when it comes to gun laws. For example, I believe it is the only state in which you are allowed to use lethal force to defend your property.

And there's the added benefit that if you learn some basic Spanish, you can hire illegal immigrant labor to do all your housework and gardening for a pittance (this can be done without knowing Spanish, but then you end up wasting money on a middleman, and there are other benefits to knowing Spanish in Texas anyway).

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#107
post #38

Earlier quoted context omitted.

Unfortunately, I think you'll see more of these problems as states get crushed under their existing debt and new expenditures from pension obligations, etc. See: http://www.usgovernmentspending.com/compare_state_spending_2...

Shove them (States) in between a rock and a hard place, and they pretty much run out of options. Not surprising.

They've got tons of options. They could, for example, cut back the bloated private sector.

...but the governments are on the side of the government workers (most government workers are unionized and these funds lobby the politicians).

The result is that it becomes an "us vs them" fight, and while common citizens may theoretically have political power through the ballot box, in practice power is mostly exercised through campaign donations and backroom deals, so the politicians are taking the decisions that they're incentivized to take: stealing seed corn and feeding it to the public sector employees.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#108
post #74

Earlier quoted context omitted.

Indeed. Avoid eastern Michigan. Western Michigan is like a totally different state.

What are some good cities in Western Michigan?

Grand Rapids is the biggest of them. It's a nice area, decent and growing downtown, lots of activities, good housing stock, growing diversity, etc.

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#109
post #97

We can't effectively manage a budget, give us more money!

shouldn't that be "we take more money" ?

Well, to be fair, they did let people vote on it, so i like to present it as if it was a request.

But yes, you are technically correct :)

Re: California To Hit Startup Founders with Big Retroactive Tax Bills

#110
Can we just hurry up and address the real problem: California's constitution? We should just burn that flawed thing and start over. As I understand it, one of the major problems with California is that the reasonable-sounding idea that citizens should be allowed to amend the constitution through a ballot proposition has backfired and led to all sorts of special interests amending the constitution to protect their own interests by lobbying the public.

http://ballotpedia.org/wiki/index.php/California_constitutio...

https://en.wikipedia.org/wiki/Constitution_of_California#Dif...

https://en.wikipedia.org/wiki/California_Proposition_13_(197...

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