Billy_Kinetta
Paladin of the Lost Hour
- Mar 4, 2013
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I always wonder just how loopy the Democrats really are, and then they set the bar lower.
"If you move in Year One, 90% of the tax bill applies..." he said, adding that the following year it drops to 80% and so on until it is phased out to zero.
Cavuto questioned whether such a move was legally feasible.
"For ten years, the wealth was accumulated during their time in California ... and that is what we're proposing in our bill. We believe we can do that, certainly we're open to dialogue and discussion as we move the bill forward, but we think it’s a sound approach and has a strong legal foundation," said Bonta.
Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State
"If you move in Year One, 90% of the tax bill applies..." he said, adding that the following year it drops to 80% and so on until it is phased out to zero.
Cavuto questioned whether such a move was legally feasible.
"For ten years, the wealth was accumulated during their time in California ... and that is what we're proposing in our bill. We believe we can do that, certainly we're open to dialogue and discussion as we move the bill forward, but we think it’s a sound approach and has a strong legal foundation," said Bonta.
Cavuto presses California assemblyman over wealth tax plan amid millionaire 'jailbreak' from Golden State