FAFO

[superrific]

Many states actively recruit rich people with favorable tax policies (e.g., Florida, Nevada, Tennessee, Texas, etc.). And given the advances in technology, it is easier than ever to move and conduct business over state lines.

It's both funny and depressing that there are so many states proud of themselves for winning the race to the bottom.

 

[Calheel]

It's both funny and depressing that there are so many states proud of themselves for winning the race to the bottom.

I know you have trouble watching videos, but Ezra Klein’s tax day guest is a tax prof who wrote an interesting tax book. Maybe you could just read her book. But here is the interview. The mobility and wealth tax discussion starts at about 44 minutes.

 

[mynameisbond]

Just out of curiosity, I wonder how much increase in the national debt will come out of Trump's two terms?
I'd venture to speculate that he will be responsible for the greatest increase in both national debt and personal wealth of any President in American history.
MAGA your way through that.

 

[superrific]

I know you have trouble watching videos, but Ezra Klein’s tax day guest is a tax prof who wrote an interesting tax book. Maybe you could just read her book. But here is the interview. The mobility and wealth tax discussion starts at about 44 minutes.

I read the transcript this morning. Interestingly enough, she agrees with me that we should be taxing capital gains on any property used as collateral. Or I agree with her, perhaps -- though I did have the idea long ago. But anyway, that's what we need to be doing. California could do that and it would be a lot better than a wealth tax.

What in particular are you pointing to? I mean, what she said was basically a synopsis of our discussions about this issue either on the old board or at the beginning of this one.

 

[Calheel]

I read the transcript this morning. Interestingly enough, she agrees with me that we should be taxing capital gains on any property used as collateral. Or I agree with her, perhaps -- though I did have the idea long ago. But anyway, that's what we need to be doing. California could do that and it would be a lot better than a wealth tax.

What in particular are you pointing to? I mean, what she said was basically a synopsis of our discussions about this issue either on the old board or at the beginning of this one.

The whole conversation was interesting although I agree it wasn’t ground breaking.

The specific reference was the discussion of individual states trying to tax wealth giving the mobility problem. It was roughly half way through.

 

[superrific]

The whole conversation was interesting although I agree it wasn’t ground breaking.

The specific reference was the discussion of individual states trying to tax wealth giving the mobility problem. It was roughly half way through.

Is there any dispute that individual states will have trouble with that? I didn't comment on your posts to that effect because I think they are obviously true.

 

[Calheel]

Is there any dispute that individual states will have trouble with that? I didn't comment on your posts to that effect because I think they are obviously true.

Apparently some people in California think it will be easy.

 

[superrific]

Apparently some people in California think it will be easy.

Either that or they are just sick of all the bullshit. Once upon a time, Silicon Valley's wealth did trickle down at least a little. Increasingly it does not, even as Silicon Valley became obscenely rich.

You live out there and I don't so you have a better finger on the pulse, but I'm not sure how representative that attitude really is.

That said, there will always be progressives who think everything is easy and the only problem is that we're not strong or brave enough to do the right thing.

 

[Calheel]

Either that or they are just sick of all the bullshit. Once upon a time, Silicon Valley's wealth did trickle down at least a little. Increasingly it does not, even as Silicon Valley became obscenely rich.

You live out there and I don't so you have a better finger on the pulse, but I'm not sure how representative that attitude really is.

That said, there will always be progressives who think everything is easy and the only problem is that we're not strong or brave enough to do the right thing.

There are lots of people who feel that way but a wealth tax is a terrible way to address that concern.

One of my big culture shocks moving to California was how so many things are handled by proposition. I pay my legislators to legislate; it’s not my job. I’m not asking them to draft discovery for me.

And legislation by initiative produces bad laws and corrupts the process with money even more than the lobbying system.

 

[ChileG]

Just out of curiosity, I wonder how much increase in the national debt will come out of Trump's two terms?
I'd venture to speculate that he will be responsible for the greatest increase in both national debt and personal wealth of any President in American history.
MAGA your way through that.

It’s a safe bet.

 

[Kingpin]

There are lots of people who feel that way but a wealth tax is a terrible way to address that concern.

One of my big culture shocks moving to California was how so many things are handled by proposition. I pay my legislators to legislate; it’s not my job. I’m not asking them to draft discovery for me.

And legislation by initiative produces bad laws and corrupts the process with money even more than the lobbying system.

Exhibit A: Prop 13 and the disastrous consequences to the ability of local governments to pay for anything (school, roads etc).

 

[Calheel]

Exhibit A: Prop 13 and the disastrous consequences to the ability of local governments to pay for anything (school, roads etc).

Prop 13 has also resulted in a frozen housing market and regressive taxation favoring rich Gen X over young Gen Z.

 

[Kingpin]

Prop 13 has also resulted in a frozen housing market and regressive taxation favoring rich Gen X over young Gen Z.

Is there any appetite today to repeal and replace Prop 13. California 2026 is a very different place and demographic profile than 1970s California when it passed.

 

[Calheel]

Is there any appetite today to repeal and replace Prop 13. California 2026 is a very different place and demographic profile than 1970s California when it passed.

Nope. Here is this week's CityNerd on the subject:

 

[heelinhell]

They voted for this in very high percentages.

I do not want to see anyone suffer, but we all had choices in voting. I hope that we can recover. I also hope that we realize how important our farm industry is and help to make it better in the future.

unless it's the small farmers...then it's ok to kill programs that support them

'Heartbreaking': Backlash in red state as Trump kills farming program over DEI concerns

HARLINGEN — For more than a decade, Diana Padilla has been teaching Texans in the Rio Grande Valley how to farm.For four hours on Sundays, she and her husband, Saul Padilla, would help their student farmers at a community garden the couple had set up on their farm by preparing the soil for them...

www.rawstory.com

 

[UNCatTech]

unless it's the small farmers...then it's ok to kill programs that support them

'Heartbreaking': Backlash in red state as Trump kills farming program over DEI concerns

HARLINGEN — For more than a decade, Diana Padilla has been teaching Texans in the Rio Grande Valley how to farm.For four hours on Sundays, she and her husband, Saul Padilla, would help their student farmers at a community garden the couple had set up on their farm by preparing the soil for them...

www.rawstory.com

It is so sad that the republican party has convinced so many people that Diversity, Equity, and Inclusion are bad things.