14 Nov 2022 8:33 am
Cannonpointer » 14 Nov 2022, 8:33 am » wrote: ↑ It's a state income tax. Not federal - state.
That makes it voluntary. The rich can move their operations if it becomes too onerous. Which it already is, based on the ongoing capital flight that has literally become a **** meme. Maybe you're just bitching to stay in practice?
If Cali were to change the levels on taxes, a move to lay off the super wealthy would likely render more capital than a move designed to keep chasing them to Texas and Florida.
Why would they do that? Property taxes are much HIGHER in "Texas and Florida!"California: 0.76%
Texas: 1.80%
Florida: 0.89%
Because they don't have state income taxes!
