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#3088518 - 12/20/12 12:26 PM Exit Tax?
MUP
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Registered: 08/01/07
Posts: 45514
Loc: Just North of Chatt-town

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I've heard that CA and NY are trying to pass legislation on an "Exit Tax", that when you leave the state, you will be taxed on a portion of the state's debt? Anyone hearing anything about this taxation w/o representation?

The below link is an article on a similar tax in NJ, but apparently the aforementioned states are trying to revamp it somehow.


http://www.nj.com/business/index.ssf/2010/10/nj_exit_tax_has_real_estate_at.html
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MUP

Amateurs: Built the Ark

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#3088549 - 12/20/12 12:44 PM Re: Exit Tax? [Re: MUP]
de novo
10 Point


Registered: 07/21/08
Posts: 4032
Loc: Middle TN

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Rush did a segment in it earlier today. Apparently, the exit tax was popular in the Soviet Union and in Nazi Germany so this would be a natural progression for us.
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#3088572 - 12/20/12 01:02 PM Re: Exit Tax? [Re: de novo]
MUP
Non-Typical


Registered: 08/01/07
Posts: 45514
Loc: Just North of Chatt-town

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That's where the guy I talked to had heard something about it too. Guys, this is really snowballing it seems...
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MUP

Amateurs: Built the Ark

Professionals: Built the Titanic

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#3089620 - 12/21/12 06:33 AM Re: Exit Tax? [Re: MUP]
waynesworld
8 Point


Registered: 05/13/12
Posts: 1482
Loc: Mboro, Tennessee

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They better beef up the exit tax when all the real rich people start leaving the country. I sure hope the dense people are still around that support this tax the rich when this happens.
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#3089733 - 12/21/12 07:51 AM Re: Exit Tax? [Re: waynesworld]
fishboy1
16 Point


Registered: 01/13/03
Posts: 10554
Loc: Warren Co

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Its my understanding that there is currently a 15% exit tax for expatriots. That means you can stay here as a citizen and pay upwards of 50% per year of your income, or immigrate to a foreign country with low taxes and welcoming business environment and they take 15% of your wealth when you leave.

Hmmmm. Sounds like a pretty good bargain to me.

What kind of screwed up National policy is that?!!!
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