The California exit & wealth tax of 2020 is a 0.4% tax on CA resident's net worth over $30,000,000, but there are exceptions. Find out more here!
www.sambrotman.com
"The amount of the California exit tax is
0.4% of an individuals’ net worth over $30,000,000 in a tax year, no matter where it’s located—within CA, other states within the US, or overseas. This amount is halved to $15,000,000 if a married taxpayer files a separate return to their spouse.
The one caveat is that there is no California exit tax on real estate (but if the real estate is within state lines, it would still be taxed under
California Revenue and Tax Code § 17591). "
The frog isn't being boiled. Yet.
I may like to think of myself as lower rich class, but I'm no where near that figure yet.
By the time I do get disgusted and leave, it will have lowered to the point of entrapping me.
Yes, various prices are absurd here (including, when you buy a Big Mac, the cost includes $20/hour for the burger flipper.)
But income, for those of us with the good jobs, would seem excessive from your perspective. It does let us pay the costs here and live comfortably. With nice weather. If we decided to join you, we'd be competing for jobs at the pay you're accustomed to. Can you afford living and what you reasonably want?
Bigger deal is deterioration of society here, at least in some cities or neighborhoods. Others are still nice.