Originally Posted by
galaxy flyer
It's a ridiculous exit tax. First, only applies to $30 millionaires, why not everyone? Or no one? That's hardly equal,protection of the law. Second, if I decide to move to a lower tax state, where does Cali have the right to chase my capital? Since when is moving to another tax jurisdiction a "loophole"?
if you have gains as a california resident, it’s logical that those gains get taxed by california.
as for equal protection, there’s a long history of progressive taxes being acceptable