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Another 'rich' leaving CA?

by TONI H / January 21, 2013 10:06 PM PST
http://www.foxnews.com/sports/2013/01/21/golfer-phil-mickelson-plans-drastic-changes-over-new-tax-rate/

Even though he has apologized for 'offending' some people for his remarks, he still plans to make some 'drastic changes' because he can't see the point of having to work and train his a## off for all those years and pay governments 62-63 cents out of every dollar for the 'privilege' of living in California anymore. He took the tax information into consideration before investing in the San Diego Padres franchise recently and walked away from that, too, even though he is a native of San Diego.

Wonder what state he'll end up in?

This was an astonishing editorial from Forbes yesterday...... http://www.forbes.com/sites/leonardburman/2013/01/21/phil-mickelson-stop-whining-and-give-thanks-for-your-good-fortune/

Another article from Forbes makes everyone realize that that State has passed enough laws that even if you LEAVE you still are wrapped up in its tentacles.

http://www.forbes.com/sites/robertwood/2013/01/21/phil-mickelson-is-not-alone-in-fleeing-taxes/
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there are a few states
by James Denison / January 21, 2013 11:14 PM PST

with no state income tax he might like, especially Texas and Florida.

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Taxes here or there, anywhere
by Willy / January 22, 2013 1:46 AM PST
In reply to: there are a few states

Yeah, what they lack in one tax is countered by another. Florida and Colorado for instance you have an "impact tax" added when you 1st register your vehicle. That simply wasn't done in any other state I lived in, but heck i enjoyed other less taxes??? I lived in Oklahoma and there when times got so bad, they passed legislation that allowed when renewing license plates that odd/even yrs. you were paying for 18mos. vs the 12mos., so they could have more revenue. the cycle license was increased too during that time, way above what was before. While, that's a fee, generally speaking usually follows some tax scheme changes, etc.. In some states there certainly is a tax difference on gasoline prices due to state tax. Here in Oh and Mi, you can see 5-10cent difference any day in the week.

Geezz, now I'm glad i don't live in Ca. I always thought that a weird state, IMHO. But, heck that's me, I just didn't see the rosy side of it all. -----Willy Happy

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Alaska is supposely the cheapest tax and fee wise
by Roger NC / January 22, 2013 10:26 AM PST
In reply to: there are a few states

because of all the money the state collects on oil shipped out of state.

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Alaska: "America's Socialist State"
by Josh K / January 22, 2013 9:38 PM PST

Really, it's one of the state mottoes. I doubt former (and briefly) governor Palin even knew that when she was railing on about alleged socialism in Washington, DC. Someone might want to give Phil Mickelson a heads-up, though I doubt Alaska is on his short list, being that the golf season there is pretty short.

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The point being
by TONI H / January 22, 2013 11:23 PM PST

this administration and liberal states are going out of their way to overtax citizens and businesses in order to satisfy their own agenda of giving goodies away and increase revenue for those agendas and refuse to recognize that the incentive those people and companies have to continue to succeed has rapidly begun to deteriorate to the point of closing down, cutting back, or retiring from the workforce completely.

Democrats/liberals are nothing more than a dog chasing a tail that's been docked.........

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The real point is....
by Josh K / January 22, 2013 11:28 PM PST
In reply to: The point being

....that Mickelson's math is way off, and/or he needs to get a better accountant if he thinks his tax rate is going up to 63%. Maybe Mitt "9%" Romney can hook him up.

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Prove your statement that his math is off, Josh
by TONI H / January 23, 2013 5:14 AM PST
In reply to: The real point is....

39.6% income tax for Feds, 13.3% income tax for California, FICA, City/County/Local income tax, personal property tax, real estate tax, CA State Sales Tax, not to mention all extra taxes on utility bills, gasoline, cell phone tax, etc. Jerry Brown just signed into law this month somewhere around 13-15 NEW tax laws that will increase those I mentioned or are new taxes. Add in another set of increases in fees that the State automatically collects from various businesses and corporations that he may or may not be involved with that I'm not aware of.

Show the world, if you will, how the TOTALS for everything added together doesn't come out to the 62-63% he states he will have to pay just in the first sentence of my post, and don't try to include the second or third sentences since those are somewhat unknown right now because I don't have the time right this minute to look for them on the net.

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Taxes on services....
by Josh K / January 23, 2013 5:27 AM PST

....are not income taxes, Toni. He's claiming his tax rate will go up to 62-63%. Again, if he is actually paying that much in taxes then he needs to speak to an accountant. There's just no way unless he is unable to deduct anything at all, and even then I doubt it.

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He NEVER said it was because of
by TONI H / January 24, 2013 12:12 AM PST
In reply to: Taxes on services....

INCOME taxes, Josh........he pooled ALL of the taxes he paid into a total amount and it comes to the 62-63% of every dollar. I gave you the main items being taxed.....add them up yourself and it comes to that easily........A tax is a tax is a tax........or don't you see it that way?

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He said his "tax rate"
by Josh K / January 24, 2013 1:06 AM PST

That suggests income taxes to me. Even if you add everything up, if it really comes to 62-63% then he needs a better accountant.

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(NT) So, you believe he's paying low taxes?
by James Denison / January 24, 2013 2:48 AM PST
In reply to: He said his "tax rate"
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Go north young man
by The ancient one / January 24, 2013 7:00 AM PST
In reply to: there are a few states

Washington State has no income tax and if you live in Vancouver, WA, just across the river from Portland which has no sales tax you only need to worry about property tax. And if you don't want to go north, go East. Nevada does not have an income tax.

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(NT) so where does the state get money?
by Roger NC / January 24, 2013 7:36 AM PST
In reply to: Go north young man
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(NT) Me. Just today I bought paint and a new charge showed up.
by R. Proffitt Forum moderator / January 24, 2013 7:45 AM PST
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Now they just have to
by JP Bill / January 23, 2013 5:43 AM PST

figure out how to legally relocate without actually leaving the Golden State nine months a year.

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I'm sure Romney can help him there too
by Josh K / January 23, 2013 5:47 AM PST
In reply to: Now they just have to

Heck, he can probably show the guy how to vote in two states in the same year too. Wink

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I'm still trying to figure out how some milliionaire
by JP Bill / January 23, 2013 5:55 AM PST

that owns a vineyard in Cali (moving to avoid taxes) is going to find a buyer for a vineyard.

Can they move a vineyard?

They'd have to be a sucker millionaire or sell at a REALLY good price, OR this tax thing is posturing.

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"The taxes are killing me"......
by Josh K / January 23, 2013 10:05 PM PST

.....isn't exactly a selling point, is it. My guess is he's blowing smoke.

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Maybe it's a corporation
by James Denison / January 24, 2013 12:18 AM PST

and he's just a major shareholder, which would change it's tax structure entirely and also allow him to allay the receipt of dividends, exercise of options, and so on. If not yet, he might incorporate it.

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(NT) ALL is not lost then...SEE, much Ado about nothing.
by JP Bill / January 24, 2013 12:24 AM PST
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IF that's the only thing he owns
by James Denison / January 24, 2013 2:49 AM PST

Is it?

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He caught a break. They won't let
by drpruner / January 24, 2013 3:48 AM PST

Dave Bing leave Detroit until he buys it. Happy

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