Higher taxes on the rich makes for a poor state

We can't continue to drive the wealthy out of California. These are the folks that ultimately fuel our economy, through purchases and job creation. But even more disturbing (as taxes on the wealthy will remain a public and political debate) is the fact that the Prop. 30 taxes were retroactive, as Mr. Goldberg says below, is a form of asset seizure consistent with what we see in non-Democratic countries.

"I have no problem paying taxes. You often get better services as a result of taxes," Goldberg says. But "I consider retroactive taxes to be a form of asset seizure. Prop. 30 was a particularly egregious example because it was targeted at a specific group of entrepreneurs."

Read the entire article from the LA Times "State Leaders closely watching migrating millionaires"


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