#3088518 - 12/20/12 12:26 PM
Exit Tax?
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MUP
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Registered: 08/01/07
Posts: 36109
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
_________________________
MUP
Amateurs: Built the Ark
Professionals: Built the Titanic
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#3088549 - 12/20/12 12:44 PM
Re: Exit Tax?
[Re: MUP]
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de novo
10 Point
Registered: 07/21/08
Posts: 2851
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]
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MUP
Non-Typical
Registered: 08/01/07
Posts: 36109
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
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#3089620 - 12/21/12 06:33 AM
Re: Exit Tax?
[Re: MUP]
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waynesworld
8 Point
Registered: 05/13/12
Posts: 1441
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]
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fishboy1
14 Point
Registered: 01/13/03
Posts: 9701
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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