Subject: Re: In view of what's happening in Cali
Obviously if you don't care about New York, Cali, etc, going bankrupt down the road the tax change can be at the federal level only. The superrich will move from high tax states and pay the max federal rate of 15 % on LT cap gains in states with no state tax.

I say the Fed will realize more rev at a lower rate from the superrich. We already know with 1000 percent certainty how the rich will respond to the treat of a net worth tax at the state level.

The US will have well over 45 trillion of debt by the 28 elections, who in which party has a realistic plan to service the debt and stop increasing it? Forget about paying it down, neither party cares about that issue.