California's wealth tax proposal. Thoughts?

[gdave]

My thought is there was already a thread on this a couple of months ago…

California Bill Would Apply Wealth Tax to Residents Who Left the State in the Last 10 Years

California Legislators Propose Wealth Tax The bill would impose a tax of 0.4% of a state resident’s worldwide net worth in excess of $30 million, or in excess of $15 million for married taxpayers filing separately. A not surprising tax considering California’s current financial situation. The eyebrow raising part however. Section 50310 also provides special apportionment rules for the wealth tax. Basically, the “the portion of a taxpayer’s wealth subject to the tax imposed by this part sh…