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Friday, May 13, 2011

California Giving Cities, Counties, and School Boards The Ability To Raise Your Taxes.

It is time to pack up and leave this state. It is finished. Not only do they want to take state income tax, they want to let the county add an additional 1% and school boards add an additional 1%. They can increase sales tax as much as they want - and any of this only requires a simple majority to pass. If you live in a tax taker county, your property value will drop like a rock the second this monstrosity passes. Why? Who will voluntarily subject themselves to legalized theft?

  • Your California income taxes could be as high as 12%.
  • If you are in the highest Federal tax bracket, your tax rate is 35% which would mean you pay 47% in income taxes alone.
  • Add roughly 3% for property taxes (my rule of thumb) and you are at 50%.
  • Whatever obscene amounts they take for Social Security and Medicare - 5% maybe? That makes it 55 - 60% of your income.
The government wants more than half of everything you make, right off the bat. That doesn't include sales tax of 8 - 10%, and the myriad of fees, fines and assessments. 

What do we get for it? The streets are a mess, the schools are a joke and every dealing with a government employee I can think of is more than unpleasant. Forget leaving the state, I want to leave the country. Let the baby boomer's kids pay for the mess the Baby Boomers have created.

RH

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