RUSH: The rich are in the news. I love when the rich are in the news! New York Governor Cuomo is openly worrying that rich New Yorkers have had enough; they won’t stay in his high-tax, high-crime state, even after the coronavirus eventually fades. Hint: They’re already gone, Governor.
State Assemblyman Rob Bonta wants to levy the additional tax on Californians worth more than $30 million. Bonta claims this would “only” affect 30,000 people, and would supposedly raise $8 billion.
The kicker? If rich Californians try to avoid this wealth tax by fleeing the state, they’d still have to pay the tax — for ten years. The first year after leaving, they’d pay 90% of the tax; the tax would decrease by 10% every year after that.
Assemblyman Bonta says after all, these rich people accumulated their wealth while in California, so why shouldn’t California tax them after they leave?
What nerve! This brazen plan is theft. It’s extortion. It’s punishment – all rolled into one. And it’s pure socialism, which is what the Democrat Party has become. If you’re successful in life, Democrats see you as a target and a suspect — and now they don’t even bother trying to hide it.
You should try hiding what you have.
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