By Bob Walsh
The proposed budget for the formerly great state of
California has been previewed by the governor. It is legally required
to be balanced, so it is, at least in theory.
According
to the theoretically non-partisan Legislative Analysts Office the
budget proposal makes a LOT of assumptions that are maybe not valid.
In
the formerly great state of California about 1% of the tax payers pay
about 50% of the income tax in the state. Those people are leaving the
state and preparing to leave the state in great numbers.
CA
really likes money and they grab it whenever they can. If you are a
jock and you play in the Super Bowl the state of CA considers that the
portion of your income you earn from playing in the Super Bowl to be
taxable in CA because you earned it here, even though you are not a
resident.
Also apparently
their definition of resident is at times creative. I heard a financial
program on the radio this morning as I was driving about with an
interesting tidbit in it. Apparently if you donate money to a CA only
charity, say for instance the Crocker Art Gallery in Sacramento, the
state will declare you to be a resident of CA for tax purposes, or at
least try to, and will try very hard to get their cut. I confess I
don't understand how that would work, but the talking head on the radio
seemed to know what he was talking about.
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