Voted 3,  but even that I doubt is realistic. I get the idea, use taxes on the super rich to fund necessary programs for those who aren’t, in theory society benefits, but in practical terms I can’t see it, flight of capital will take place and direct investment will take a big hit.

I voted No, no one should be charged a wealth tax!

It's just a money grab scheme that will end in all kinds of lawsuits.

Once you've left the state, the state no longer has control over you!

Now if you own unpaid back-taxes, yes, then they could pursue. But otherwise, no... they shouldn't have any control.

FWIW

Yes, not only would they flee, but if taxes can’t be collected on those who leave, then they will also destroy their state’s underlying tax base. Often the extremely wealthy employ many people. If the employees leave the state, jobs will follow and more people will leave. It’s self fulfilling.

If I voted, I would choose #4 as the wealthy should not have to pay taxes more than once on the same income.  I’m essence a wealth tax takes money when they earn it and again when they save or invest it. That is absurd.

Showtalk said:

Often the extremely wealthy employ many people. If the employees leave the state, jobs will follow and more people will leave. It’s self fulfilling.

That's probably true, but I think the concern is more broad than simply employment, it's a situation of capital investment, you remove that and growth stagnates, economy falters.

Showtalk said:

a wealth tax takes money when they earn it and again when they save or invest it. That is absurd.

You'd hate living here, capital gains are the bane of my investment portfolio.

I may have told this story of a family friend whose business takes in several million $ a year but it’s all reinvested in inventory that depreciates every year it is not sold. The state went after them for $1 million of taxes on legally declared depreciation. They said it was not correct, even though two accountants said it was legal. The state used a very narrow interpretation to take money.  The family’s own income was a very small fraction of their business income. So they sold off Inventory at a loss and decimated their business all to pay a tax. They laid off somewhere under 20 employees, and moved the entire business out of state. So California lost twenty more years of potential taxes for one big grab.

I could never live there.  California looks at immediate gratification, not the long haul.  Several years ago they had an enormous surplus. Newsom basically gave it away, rather than invest in important things or saving it. He is allergic to cash reserves.

No wonder so many people are leaving California.

Not to mention the high taxes, housing cost and gasoline prices.

FWIW

Same thing with New York. So many moved out after one of their politicians told them to, that they had to back off.

Kathy Hochul’s call for 5.4M Republicans to leave New York is dangerous and disgusting

https://nypost.com/2022/08/25/kathy-hochuls-call-for-5-4m-republicans-to-leave-new-york-is-dangerous/