How 144,000 Individuals Can Bankrupt California (в которой живет 40 млн. человек)

kosta · 9 янв 2010

How 144,000 Individuals Can Bankrupt the State of California

A bewildered Gov. Schwarzenegger complained that tax revenue were down because the 144,000 taxpayers who pay 50 percent” of all personal income taxes” had a bad year. That is right; a mere 144,000 individuals pay half of California’s income tax revenue. When they decide not to work, invest in tax-free bonds or worst move out of the State, California will be bankrupt.

The Federal Government is in the same boat where 2% of the population pays 40% of the taxes.

A progressive tax system seems fair to some. If you make more, you should pay more for identical government services. Kind of like, if two people go to the same restaurant, the rich person should pay more for his meal so that the poor person can pay less. Since it is a tax law, if the rich person disagrees, we will have to put him in jail.

Oh, it gets worse.

Oh, it gets worse. With 12% unemployment, only Governor Schwarzenegger would sign a new tax law designating all tax havens under California tax authority (here is the Franchise Tax Board report). California is the only state this stupid (even Congress is not this stupid). Who will this effect? Well, my worst case thought is insurance companies. During the Great Depression, the US lost foreign insurance companies. Now, California will lose not only foreign but out of state domestic. Next, is banking? Most banks use a tax haven to clear worldwide currency conversions (for example, Wells Fargo uses the Cayman Islands).

Back to my dinning out example. Mr. Rich has two other choices. First, he can eat at a restaurant where every one pays the same for food; or second Mr. Rich can decide not to dine out. In 2009, the 144,000 people have either found a new state or have decided not to take the investment risks that made them rich (this is a great time to park assets in safe (and state income tax free) U.S. government bonds.
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alexgeorg · 10 янв 2010

популизм
Пересчитать этих индивидуалов на семью (household) процент уже будет другим. И потом это Калифорния с Голливудом, Силиконовкой и т.п. там где миллионные заработки. А что нам тогда поют, что в Штатах средний класс это мотор экономики? В России с перекосом з/п в Москве и, отчасти, Питере, та же история.

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