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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (39337)	8/28/2008 8:41:40 AM
From: TobagoJack	Read Replies (2) \| Respond to of 218059

just in in-tray You can't make stuff like this up..... taxprof.typepad.com California Ballot Initiative to Impose 45% Income Tax, 55% Wealth Tax & 36%-54% Exit Tax A California activist is trying to gather the 694,354 signatures needed to place a tax initiative on the ballot that would: Impose a new 35% income surtax (in addition to federal taxes and the existing 10.3% top state rate) -- 17.5% (on all of the taxpayer's income) when income exceeds $150,000 (single)/$250,000 (joint), and an additional 17.5% (again, on all of the taxpayer's income) when income exceeds $350,000 (single)/$500,000 (joint). Impose a one-time 55% wealth tax on assets exceeding $20 million held by a California resident or held in California by nonresident. Impose an exit tax of between 36.5% to 54.3% on both income and unrealized appreciation in asset values over $5 million when a resident dies or leaves California.