California is just about the most overtaxed state in the nation. But too much is never enough for its politicians.
This segment of What’s Ahead discusses the latest outrage from the once Golden State: a worldwide wealth tax. But the exaction wouldn’t only apply to “rich” residents; part-time residents would be hit as well, their liability determined by the number of days spent in the state. And don’t think leaving the state would spare you. The legislation would allow California to tax you even if you have recently moved elsewhere.
The wealth tax’s serious shortcomings are also covered, including its being a gross invasion of privacy.
Read the full article here
