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California is likened to EAST BERLIN over democratic socialist lawmaker s attempt to impose wealth tax on its richest residents even if they try to leave the state to escape it

The lawmaker proposed a one percent yearly tax rate on individuals with a net worth of more than $50million.

Alameda countyUnited statesOrange countyGavin newsomEvan lowHenry sternAlex leeJon coupalTaxation committee onAssembly districtAssembly revenueOrange county registerBay areaEast berlinOrange county register stateColumnist jon coupal

California s lawmakers consider wealth tax of 1 5% on anyone with a global worth above $1billion

Assemblyman Alex Lee last week introduced the bill in the California State Legislature, which would come into effect in January 2024.

United statesNew yorkAlameda countyChapman universitySan francisco bayLos angelesAustin russellJheanellek wilkinsOrlando bravoJared walczakEvan lowSergey brinGavin newsomHenry sternPatrick gleasonEvan spiegel

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