Taxes - Fed/State/Property/Sales

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01-14-2025 | 06:59 PM

#121

galaxy flyer

Gets Weekends Off

Joined: May 2010

Posts: 5,244

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From: Baja Vermont

Quote:

Originally Posted by OOfff

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

Progressive rates, yes; separately out certain income people is very different, I'd submit. By your example, we could say no one pays taxes except those worth $10 million and it's 50% for them. You call that equitable.

As to capital gains, they didn't earn them in California as they realized the gain until left. The investments creating the gains were not exclusive to California--outside of state business locations,nsuplliers, investors, none of whom were in the state. It's a money grab.

01-14-2025 | 10:53 PM

#122

OOfff

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Joined: Sep 2016

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Quote:

Originally Posted by galaxy flyer

on some scale, we do that with many taxes. for instance no tax on your first $24000 of income or so. “equitable” is a lot more nuanced than that.

Quote:

As to capital gains, they didn't earn them in California as they realized the gain until left. The investments creating the gains were not exclusive to California--outside of state business locations,nsuplliers, investors, none of whom were in the state. It's a money grab.

and as a californian, you get to pay for the gains you made while residing there.