Re:Tech elites leaving San Francisco threaten Silicon Valley...
by DeRock on Monday December 07, 2020 @04:50PM
(#25338087)
> the wealthy has been subsidizing more than 80% of the population
CA does not tax wealth, they tax (predominately) income, and I wouldn't be so quick to equate the 2. Prop 13, for example, can mean that wealthy land owners pay almost nothing in tax if they've owned their property for a long time.
Re:Tech elites leaving San Francisco threaten Silicon Valley...
by rcpt on Monday December 07, 2020 @05:17PM
(#25338444)
> Prop 13
https://www.taxfairnessproject.org/ generally the wealthier you are the bigger your tax cut.
This won’t work. When the tech exodus begins, it’s going to cause CA to buckle at its knees because the wealthy has been subsidizing more than 80% of the population. It is not sustainable or healthy at all to suckle at the teat of the wealthy.
We should abolish all taxes and only retain taxes based on consumption. And a flat modest capital gains tax. With dedications gone, this might actually bring in more public money.
Public spending will also decrease if we figure a way out of unfunded pension liabilities. This is huge. Don’t know how it can be resolved.