a prime example of fiscal policy going array. i hope our revered leaders figure out the fact that innovation is the key to the greatness that is America.
California To Hit Startup Founders with Big Retroactive Tax Bills
201–210 of 318 posts
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#202Earlier quoted context omitted.
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.
It completely baffles me how any reasonable person could look at the retirement and health benefits situation in our country and come to the conclusion that our problem is being too generous to the working class. Yes, the private sector has been much more effective than the public sector in collectively diminishing workers' wages and benefits in recent years. The logical conclusion is not that the public sector shoul…
In case you didn't realize it, that costs the states money, and money is what states don't have.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#203As a business owner this crap terrifies me. Washington State was looking at changing their tax code retroactively to get more money from Microsoft, luckily level heads (and I might presume, extensive lobbying) prevailed. I can't plan today for what yesterday's laws will be tomorrow.
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...
Government spending has nothing to do with constutionality of law. The law was simply struck down by the courts, in this case. It's not some government plan to increase tax revenues.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#204I did a quick google and found a discussion of retroactive tax laws (applying to gift taxes in 2010): http://www.assetprotectionsociety.org/the-likelihood-and-enf... Potential arguments include due process, "wholly new tax", lack of notice, ex post facto (with the same caveat as mentioned here about applicability only to criminal cases), and the fifth amendment taking clause. Conclusion: it's hard to fight.
> 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.
The Supreme Court pointed out that the law was unconstitutional. So the effects of the law over the past 5 years were illegitimate, and should probably be fixed.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#205I did a quick google and found a discussion of retroactive tax laws (applying to gift taxes in 2010): http://www.assetprotectionsociety.org/the-likelihood-and-enf... Potential arguments include due process, "wholly new tax", lack of notice, ex post facto (with the same caveat as mentioned here about applicability only to criminal cases), and the fifth amendment taking clause. Conclusion: it's hard to fight.
Some things about the US still surprise me. In "socialist Sweden" (as it's sometimes called) retroactive taxation is unconstitutional. On the other hand capital gains is 20-30%, and most entrepreneurs actually have their gains taxed as income. That means you're lucky if you get to keep 13%. ;) I'm exaggerating a bit, but not much.
It's technically unconstitutional in Italy as well, but it keeps happening over ad over... "Emergency measures".
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#206Earlier quoted context omitted.
First of all, I don't know about you, but I don't come to HN and try to have a somewhat intelligent conversation just to be called stupid for expressing an opinion. Secondly and to your point, I am only speaking of defined-benefit "If you work here for x years you get y% of your salary." This is to say nothing of the health care (which is generally better than the private sector), the hours (which if you don't work f…
"First of all, I don't know about you, but I don't come to HN and try to have a somewhat intelligent conversation just to be called stupid for expressing an opinion." He didn't call you stupid for expressing an opinion, he called that particular view stupid.
Saying that a particular view is stupid without offering any additional information or another viewpoint is... well...
This isn't 7th grade — come up with another word that really means what you want to say. There are a lot of ways to disagree with someone and/or an idea without the derogatory language.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#207Some people in this world are just plain ridiculous. Who runs the country like this? I really want to know who really thinks so stupidly while making/amending laws.
the people running the country, are running it like this... sadly
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#208Serious question, can one "retroactively" move out of the state? Isn't it kind of bullshit I wasn't afforded the opportunity to move out of the state before I sold my stock?
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#209One-sided and confused article. Whether this is an attempt to mislead readers or a misunderstanding by the writer, I don't know. But this is not a case of California choosing to implement an unhelpful policy. This is a case of California's previous helpful policy being found illegal because it violates the commerce clause; the FTB had no other choice but to impose the tax.
http://www.mondaq.com/unitedstates/x/214234/Income+Tax/FTB+I...
https://www.ftb.ca.gov/law/Qualified_Small_Business_Stock_an...
The FTB did not 'take its ball and go home.' The Court told the FTB that it was not allowed to favor [EDIT: investment in qualifying] California corporations that way to begin with. An alternative would have been to extend the tax break to all companies that do business in California and send them a refund check for every year the QSB rule had been in place, but the FTB most likely doesn't have that much money available.
Re: California To Hit Startup Founders with Big Retroactive Tax Bills
#210Some people in this world are just plain ridiculous. Who runs the country like this? I really want to know who really thinks so stupidly while making/amending laws.
unfortunately, those in charge choose to vilify success and growth. rather than lauding the greatness of america, they choose to tax, burden and encumber it. i'm not sure there are good alternatives on either side of the aisle.