California wants to retroactively tax investors that were given a tax break | TigerDroppings.com

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CptBengal
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Member since Dec 2007
39771 posts

California wants to retroactively tax investors that were given a tax break



for investing in businesses there...

quote:

“They relied on California law as it was written, that they would get a tax break if they invested in certain kinds of businesses,” Lieu said.

But a court ruled in December that practice by the state was unconstitutional. Now, the Franchise Tax Board wants its money.
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BugAC
LSU Fan
Baton Rouge
Member since Oct 2007
18796 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

California wants to retroactively tax investors that were given a tax break




Great. I hope they keep doing this, and more and more businesses flee from that shithole of a state. We'll gladly take their businesses from them.






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CajunAngele
LSU Fan
Member since Oct 2012
11168 posts

re: California wants to retroactively tax investors that were given a tax break



Seriously, do they have any common sense or do they just like failing further and becoming Detroit?






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udtiger
LSU Fan
Louisiana
Member since Nov 2006
25593 posts

re: California wants to retroactively tax investors that were given a tax break


Jindal/Mouret should be saturating CA with ads to businesses that are looking to move.





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Ace Midnight
LSU Fan
Currently asymptomatic
Member since Dec 2006
31317 posts

re: California wants to retroactively tax investors that were given a tax break


Truly justice if those stupid enough to invest in California.

However, a dangerous precedent. What happens when they want the taxes on tax deferred retirement investments? Or just the tax deferred retirement investments?

Who will stop them?






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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
2673 posts

re: California wants to retroactively tax investors that were given a tax break


Not good, but when I read the title I thought it was the legislative retroactively taking credits back- which is a no-no.

However if their supreme court ruled that the tax breaks were unconstitutionally given (and the linked article, par per the journalism course, give no details on the issues) then the legislature didn't have the authority to give the breaks and thus the state must collect them.

Not a good situation, but judges are gonna judge.






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CptBengal
USA Fan
BR Baby
Member since Dec 2007
39771 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

Who will stop them?



Just wait on the tax deferred retirement accounts...it's the next honey hole the fedgov is going to go after. The rumblings on it have already begun.






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Meauxjeaux
Memphis Fan
I have 89,367 posts with my alters
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17201 posts
 Online 

re: California wants to retroactively tax investors that were given a tax break


$100 says if the Dems get control of the House and Senate for Obama's last 2 years that they retroactively tax all businesses and individuals at a rate of 75% because that's what it should have been all along but those nasty Republicans were screwing it up.


This post was edited on 8/20 at 2:32 pm


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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
9059 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

Jindal/Mouret should be saturating CA with ads to businesses that are looking to move.


They would be way behind Perry at this point. But any attempt is better than none.






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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
21829 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

However if their supreme court ruled that the tax breaks were unconstitutionally given


I wonder if the supreme court will do the same with obamacare and his selective enforcement.






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braindeadboxer
LSU Fan
Utopia
Member since Nov 2011
5015 posts

re: California wants to retroactively tax investors that were given a tax break


I'm becoming convinced that the left has now learned that no matter what, they will never be able to end poverty and make everyone well off / rich. So they have changed their end goal to making everyone equally poor.

Except for the ruling class of course. Sounds awful USSRish to me.






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Ace Midnight
LSU Fan
Currently asymptomatic
Member since Dec 2006
31317 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

So they have changed their end goal to making everyone equally poor.


They had to know this was the only achievable objective. That's the goal of socialism, anyway, even though they won't admit it out loud. If the poor get rich, who will clean the toilets, pick the lettuce and do the dirty work?






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udtiger
LSU Fan
Louisiana
Member since Nov 2006
25593 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

I wonder if the supreme court will do the same with obamacare and his selective enforcement.


John Roberts finds this amusing.

frick You John Roberts!!!!!






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DonChowder
LSU Fan
Caulifornea
Member since Dec 2012
5031 posts

re: California wants to retroactively tax investors that were given a tax break


This has been talked about for a few months on radio shows around here. I'm really not surprised that it's happening.

Just last week I bought some lumber from Home Depot. When I looked at the receipt...BAM!...CA Lumber Tax. Had to look it up but it's right there....1%. Kinda ironic, that 1%.






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ljhog
Arkansas Fan
Lake Jackson, Tx.
Member since Apr 2009
10039 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

a court ruled in December

what court? AG appeal the ruling?






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dante
LSU Fan
Kingwood, TX
Member since Mar 2006
8157 posts

re: California wants to retroactively tax investors that were given a tax break


Bill Clinton called to say hello.





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oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
22154 posts

re: California wants to retroactively tax investors that were given a tax break


This should be found to not be enforceable like this. I don't like the precedent this would set at all.





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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
9059 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

Bill Clinton called to say hello.


But at least Clinton changed the rules in mid-stream via the legislative process. California is doing it through judicial fiat.






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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
9059 posts

re: California wants to retroactively tax investors that were given a tax break


quote:

CA Lumber Tax


You need to leave. Now. For your own good and that of any family you may have.






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lsutothetop
Columbia Fan
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Member since Jul 2008
11036 posts

re: California wants to retroactively tax investors that were given a tax break


This could be interesting depending on how far it goes up the appeals ladder when lawsuits inevitably fly. This is pretty clearly an ex post facto law and if it were hypothetically upheld by the Supreme Court...





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