dajo9 said:
calbear93 said:
socaliganbear said:
Goobear said:
FuzzyWuzzy said:
FI only read enough to find out how this gets paid for: an estate tax that starts on estates of $7 million (married)/$3.5 million (individual). The rates starts at 12% and quickly shoot up to 22%. These are all people that can afford to move out of state and a lot of them will establish full-time residency elsewhere, with a pied-a-terre in California. I personally think a new tax for this should be more broad-based. Maybe a bump in the sales tax, a bump in the state corporate tax and a partial phasing out of a the Prop. 13 exemption for commercial real estate.
I agree with whoever said that the student needs to have skin in the game. Everyone needs to pay something, and if you can't afford it, you need to get a job.
I do not believe it is right to charge wealthy families more in tuition so that you have the money to provide scholarships for the poor. For example, a school has a revenue need of $20,000 per student. So it sets the tuition at $35,000 so that it can use the extra $15,000 to give scholarships to students who can't afford the $20,000. If we think there is societal value in subsidizing the education of deserving poor students, it should be done on the backs of society at large, not the wealthy families at the same school. This measure would help shift that burden to society at large through a tax (but see my comment above about that tax, which is unfair and pretty easily avoided for the folks who would be taxed).
Like I said, I didn't actually read the whole thing. But it would suck if MY kid ends up paying the highest tuition ever, just before this thing passes.
Let's tax more. That is the answer...California is in the bottom 10 States in education ranking in elementary school of all the states. So now every kid should go to college? Many of them would fail. Fix that first...California needs to stop thinking taxing will solve all woes. One in 3 people are on medi cal in this state. People with means leave and then what will you have left if this goes on?...Yes a bankrupt state...
This is not a thing that is happening in California. The opposite happens in California. As was pointed out above, the poor leave, the affluent keep moving here.
One - that is diabolical. Under the guise of being progressive, adopt policies that force the poor to leave the state and keep the beaches for the rich folks. It may be evil, but it's brilliant. Who knew I was actually the liberal one on this board.
Second - this is an estate tax. People don't need to pay the extra tax for the privilege of dying in California. They can die just as well in another state.
California ranks right next to Texas in terms of inequality (43rd and 44th). Inequality is a national issue not a state issue and it's being driven by national and global forces.
California is becoming unaffordable to the poor because of market forces. The wealthy want to be in California and drive up the prices. If you are looking for a culprit then blame capitalism.
All this talk about the wealthy leaving California is just some sort of Ayn Randian pipe dream.
The Ann Rand reference undoubtedly is from a recent article about New Jersey.
Just for the record, New York is first in income inequality.
I agree with essentially all of the comment. Income inequality is based on market forces, but state taxes are part of the equation as are zoning rules and impediments to expanding the housing base for lower income. They all impact local markets. Not in my backyard may as well be the motto of California, which segregates land use decisions based on wealth.
The very wealthy can afford to pay higher taxes and stay where they want for quality of life, or business reasons (e.g., California, Texas and New York have strong and large economies). Moreover, the impact on higher taxes will be seen in the long run (to the extent it exists) since business siting selection and similar decisions that consider taxes, don't have short run impacts.
The following article shows IRS migration numbers from California. High income and poor are predominantly leaving, but not in huge numbers. (BTW, $10 Billion sounds like a lot, but not compared to the overall California economy). Despite the hysteria of the article, there is not huge migration or immigration currently.
Link:
http://gvwire.com/2017/10/31/poor-wealthy-alike-fleeing-california/Also, those of who live in California, we do so because we like it here. We grumble about policies and taxes, but we like living in our community silos, away from those of opposite views (e.g., the city I live in amazingly diverse but has the highest GOP registration in the State). And those well off are segregated to beach cities away from those that work for us and commute to where we work from inland areas.