Government Overreach? Why California’s Billionaire Tax Is Pushing Top Taxpayers Out | Elaine Culotti
It is starting to look like California may be separating people from their personal property and taxing that property through search and seizure, argues Elaine Culotti, a Daily Signal California contributor, in today’s special video commentary on the Golden State’s impending billionaire tax.
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Show Notes
It is starting to look like California may be separating people from their personal property and taxing that property through search and seizure, argues Elaine Culotti, a Daily Signal California contributor, in today’s special video commentary on the Golden State’s impending billionaire tax.
“ There are 17.5 million people out of 40 million people that pay taxes in California. The top 2% or 1% or half a percent—200 guys—pay 47% of those taxes. If you create a wealth tax on those people, they are sure to leave, and it's not because of the 5% you're trying to charge them. People do not want to disclose their assets. They deem it unsafe, invasive, overreaching government, and unconstitutional. Taxation without representation.”
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