That’s what I always like about visiting Costa Rica. It seems every town is layed out with sequentially numbered avenidas going one way and callas going perpendicular to the avenidas. The church is always smack dab in the middle for easy reference. Why can’t everyone do that?
1 Like
No need to tighten belt, just keep squeezing the other party/(golden egg laying goose till it leaves)! 
1 Like
During good times, no need to save, during bad times bring in more “temporary”/(permanent) taxes. 
This one in particular is the 1st step. 2nd step will be non commercial.
1 Like
Prop 10 is the last stand.
Californians love to only vote for one party and vote for the most radical members of it.
3 Likes
We can’t help ourselves.
If the property tax does end up increasing, the demand for real estate will decrease and therefore the real value or price of the real estate will decline. Bearish for property valuation. And if the population does not grow, who will buy expensive CA realestate?
Another signal to sell rental in California. How many more signals do some bloggers need to realize BARE is not the right investment now?
We’ll sink with it
Said the guy with not one but two houses in SV.
It’s unsustainable as it is. The population of California would already be in decline were it not for births from illegals. How long can that stream sustain these prices?
1 Like
It would add a 1% surcharge to gross income of more than $1 million, 3% on income over $2 million and 3.5% on income above $5 million.
W2 wage is the least tax efficient form of income.
1 Like
This is an invitation to WFH for super-wealthy earners in the CA. Valuation of homes in Millionaires Row could be affected.
it will impact every one as the higher rates apply to stock sales. CA taxed capital gains at highest rate regardless of W-2 income. and they want to do retroactively.
2 Likes
With many tech companies now allowing executives to work remotely for the next year, top earners could more easily leave the state and work in places with no income tax, like Nevada and Texas.
Austin obviously 
Time for you to uproot to Texas.
The new tax rate would also apply to capital gains, which accounts for a large share of tech income, since California taxes capital gains at the same rates as ordinary income.
Sorry, you’re affected too. Your multi-million dollar capital gain would be taxed at 16.6% 
Now you understand why Elon Musk is pondering leaving CA to Texas.
Look at it from the pols’ angle. They feel like they have all these millionaires in the bag. People talk a big game of uprooting from CA and moving to Hell, er, I mean Texas. But how many actually do? Apparently not in large enough number to scare them yet.
I am staying put. You people who are making 5M a year needs to move to scare the pols straight, so I can have a lower tax bill. Take one for the team people! All you people who are bitching about CA, please leave to make it better for us who want to stay.
1 Like
Actually a tax cut for CA may come next year if Biden takes the presidency and Dems retake the Senate. Deductibility of state tax from federal may come back! Trump intentionally screwed the blue states and some of his damages may unwind.
CA taxes has always been high but no evidence rich people have left in droves, including the crybabies who complain everyday every year. Even they chose to stay and bitch instead of moving to Hell, er, I mean Texas.
CA should make policy regardless of who becomes President in Nov. This is federal setup . President has to do what is good for the all 50 states, and each state has to do what is good for itself.
Income Tax was created in 1913 and if Trump or some other president decides to do away with it, will CA tax its people even more?
What CA should do is to see where it can cut the expenditures so that spending is in line with what state can earn through reasonable taxation.