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January 27, 2023 | California Wealth Tax to be Applied to Anyone Whoever Worked in the State

Martin Armstrong

Martin Arthur Armstrong is current chairman and founder of Armstrong Economics. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Some people have written in and said I am just a Republican and I hate California. Sorry, I consider myself in the middle. I disagree with a lot on the Republican side as well. Simply put, the government should NOT be in the business of trying to manipulate society any more than the Investment Banks have tried to manipulate the markets and when they blow up, they run to the government for bailouts. The fines they get from CFTC ad SEC and just their 10% take of the amount of money they make on such schemes.

California is the absolutely WORSE state to live in. They are so MARXIST you cannot even imagine. They are proposing to create a WEALTH TAX and apply it to anyone who has ever worked in California. You better know that California has been going after people who worked in that state, but then moved to Florida. They then hunt them down and demand state income taxes arguing that they earned that pension while they were in California.

Plain and simple, California is the state from HELL. It views people as its economic slaves. Yes, you are a slave – the property of the state. It does not matter where you have moved to, they view it that you remain their property.  California is out of control. It will NEVER reduce its size, it looks down upon the people as their endless possession. Slavery ended with the Civil War but that was only private slavery. The state has replaced that and it outright claims you are its property. They never heard of no taxation without representation. If you move out of state, you forfeit your right to vote in California. So we have exactly the very same situation that led to the American Revolution – you are taxed under tyranny and have no right to even be heard.

What California has been doing to those who retire out of state, they will do to absolutely everyone who has ever worked in that God-forsaken land of inequity.

Just for the record, you must report every asset you own everywhere in the world, and then you are taxed on that as if it were a property tax. Every year you will be taxed and if your assets declined, that’s your problem. You will be taxed on what the state says it is worth.

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January 27th, 2023

Posted In: Armstrong Economics

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