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California Democrats consider wealth tax — including for people who moved out of state
Link: https://www.foxnews.com/politics/california-democrats-consider-wealth-tax-people-moved-out-state
Several Democrat-led states introduced similar measures in effort to tax rich even more | California lawmakers are pushing legislation that would impose a new tax on the state's wealthiest residents — even if they've already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a "worldwide net worth" above $1 billion, starting as early as January 2024. Worldwide wealth extends beyond annual income to include diverse holdings such as farm assets, arts and other collectibles, and stocks and hedge fund interest.
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