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WookieMan says$800K valued house in IL would run you close to $20k/yr in property taxes depending on location
Yikes! To pay that $20k/yr implies a high income, which also means a high income tax bill.
The Daily Wire, the conservative media company started by Ben Shapiro, Jeremy Boreing and Caleb Robinson, plans to move its headquarters from Los Angeles to Nashville.
Boreing said that the move was being made due to a declining quality of life in the city, including high housing costs and homelessness.
The publisher’s 75 employees based in Los Angeles are being given until Oct. 1 to decide whether to make the move, Boreing said. He said that it looked like about 80% would make the move.
you'd have to have a decent income to qualify for a $600-700k home loan
@jessiealene
Concept: California simulator. Close all windows, turn off air conditioning, and maintain a room temperature above 85°. You can open a window if you want, but as punishment you go outside and smoke four cigarettes in a row. Also you light a $20 bill on fire every 5 minutes.
10:30 PM · Sep 11, 2020
Stripe Inc. plans to make a one-time payment of $20,000 to employees who opt to move out of San Francisco, New York or Seattle ... offer available to workers who choose to relocate before the end of the year
SunnyvaleCA saysHmm... this is actually a concern I have, given my desire to flee California. It was my understanding that money specifically "earned" in a given state is taxed in that sate only. For example, if you take a 3-month contract job out of state and move to that state for 3 months to do the work, you would only pay state income tax in that state.Hopefully, the payment is only "earned" when the employee has completed the relocation, otherwise, the state they are trying to escape is going to try to tax that $20k.
They still get to tax it. You pay both states in the year you move. Or in some cases, if you move in the first half vs the second half.
Hey @epitaph
Here's some alternate profile pics for ya to use, if you are interested:
then it became the California state flag because I loved California. I still do in fact, it's just in a very sick state, and I think it's pretty critical right now, it might not make it back, which is sad, but I do hope for the best.
Hey @epitaph
Here's some alternate profile pics for ya to use, if you are interested:
and
Hey @epitaph
Here's some alternate profile pics for ya to use, if you are interested:
and
SACRAMENTO - Assemblymember Rob Bonta (D-Oakland) and more than a dozen fellow lawmakers have introduced legislation that would establish a first-in-the-nation net worth tax. This proposed wealth tax would generate an estimated $7.5 billion per year for California’s vital needs like education, housing, health care, and other state services.
The California Wealth Tax (AB 2088 as amended) would apply a 0.4% tax on the portion of a taxpayer's net worth that exceeds $30 million. (approximately 30,400 people.)
The California Wealth Tax would add critically needed revenue forCaliforniashoring up California public employee pension funds by creating a more equitable tax structure,” said Bonta. “Families are hurting right now. COVID-19 has only made matters worse. In times of crisis, all Californians must step up and contribute their fair share."
On a related topic, there has been a Conspiracy of Silence from Sacramento, and local governments, on tax collections to date. Meanwhile they have kept right on spending as if it were still good times.
The proposed "Wealth Tax" on folks with > $30 million in assets will result in reduced tax collections. Those are the most mobile people. They will leave. Then, not only will they not collect the wealth tax, but they will also lose the already-high-other-taxes they were collecting.
B.A.C.A.H. saysThe proposed "Wealth Tax" on folks with > $30 million in assets will result in reduced tax collections. Those are the most mobile people. They will leave. Then, not only will they not collect the wealth tax, but they will also lose the already-high-other-taxes they were collecting.
Exactly what already happened in NJ.
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