@omzidar That $125 billion disagreement turns chiefly on very different assumptions about the operation of California law re: tax residency (as explored here: https://t.co/C3ZPpZfkPO).
Recently on the Tax Research Network, we recently featured an excellent article by @kirkstark on what it might take for California billionaires to not be residents in California. Punchline? Its more complicated than detractors and proponents of the wealth tax suggest.
@joshrauh Another way of phrasing this: someone with total income of ~ $28 million, ~ $2 million of which is derived from the performance of services in California, could face ~ $250,000 in California income taxes on that California-source income.
@implantdr11@Timothy_Bellman@BillAckman The 5th Amendment refers to “persons” - not just citizens. “No person shall be … deprived of life, liberty, or property, without due process of law.” (eg, Scalia: “It is well established that the 5th Amendment entitles aliens to due process of law in deportation proceedings.”)
@PrawfBainbridge Fair point. I would just add that the trump definition of “viewpoint diversity” is probably less about conservative v. progressive and more about promoting a pro-trump, anti-fact, anti-science agenda.
It’s astonishing that trump’s preschool understanding of the VAT is cratering the global economy, but it’s also an opportunity: dump the tariffs and adopt a VAT like the rest of the world. https://t.co/KxW0AV9UUR
For the journalists out there, those numbers are not tariffs. The European Union, e.g., has weighted average tariff rates of ~ 3% and arguably lower on US goods. So they are clearly including VATs and who knows what else?? This false reciprocity is nonsense. For more, see:
Former IRS Commissioners serving under every President going back to Reagan, incl. Trump: The mass, indiscriminate firings at the IRS will increase deficits, risk filing season disruptions, and shift tax burdens from tax cheats on to honest taxpayers. 1/4 https://t.co/HQ1juXDTpq
Check out the full article here:
https://t.co/kPFSQiJGx3
And related work with @kirkstark :
https://t.co/BY87Qo4A0a
State, local and international policymakers with questions can always reach out to help challenges facing income taxes with WFH!
LOL
These guys have:
1. No idea that the Biden Administration created a free tax system
and
2. No understanding that Republicans and particularly Intuit won't let this happen
https://t.co/oFpJy5tzWS
Blaming foreigners and immigrants just distracts from a regressive fiscal switch that lowers tax burdens for those at the top while increasing tax burdens for 80%+ of population, driving higher deficits. For more, see https://t.co/xi3F3dmYR6 and https://t.co/kUAu6Rbp0G
Literally the only one who
Is dividing us is the person running for president who never conceded the election. He didn’t even go to the inauguration.
First and only time that ever happened in our country.