Expatriate Saverin saved FAR more on CA income tax than he did on his net federal tax

Richard Rider, Chairman, San Diego Tax Fighters Richard Rider, Chairman, San Diego Tax Fighters 14 Comments

What is usually overlooked in the discussion of Facebook co-founder Eduardo Saverin leaving the U.S. for Singapore (presumably to sell his Facebook stock) is the CALIFORNIA capital gains tax.  Saverin avoided $67 million in net federal income taxes by leaving the country, but he saved several times that amount by leaving CA — which by law has no “exit tax.” …

Gov. Jerry Brown: State budget deficit now $16 billion — up slightly from his $9.2B deficit revision in January

Richard Rider, Chairman, San Diego Tax Fighters Undesignated 15 Comments

Gov. Jerry Brown: State budget deficit now $16 billion Gov. Jerry Brown said in a video release today that California’s budget deficit has mushroomed to $16 billion, nearly twice as high as the $9.2 billion he estimated in January. Gosh, what a stunning revelation! Who’d a thunk it? http://blogs.sacbee.com/capitolalertlatest/2012/05/gov-jerry-brown-state-budget-deficit-now-16-billion.html#disqus_thread#storylink=cpy But the good news is that it’s not Assemblyman’s Nathan Fletcher’s …

Peer review report condemns CA HSR, yet the train lurches on

Richard Rider, Chairman, San Diego Tax Fighters Richard Rider, Chairman, San Diego Tax Fighters Leave a Comment

This week the peer review group studying the California High Speed Rail plan (as amended and/or exposed) came out with their report. Even though they as individuals probably were mildly supportive of the core HSR option, their report has nothing but scathing criticism for this “plan.” http://www.cahsrprg.com/files/CommentsonCHSRA2010FundingPlan.pdf I made a quick search of CA newspapers referencing this report. I could …

Rider on Fox Business News network

Richard Rider, Chairman, San Diego Tax Fighters Undesignated 1 Comment

Today I did segment on the national Fox Business News network. We dealt with the new California budget, and the planned tax increases. I think it went well. Governor Brown likely would not concur with this assertion — he took a bit of a beating in the interview.  Well deserved, of course. It airs TONIGHT after 6 PM Pacific time. …

Top 10 IMPLICIT fallacies justifying opulent government pensions

Richard Rider, Chairman, San Diego Tax Fighters Richard Rider, Chairman, San Diego Tax Fighters Leave a Comment

There are many, many fallacies in the sometimes explicit but often IMPLICIT reasons given for paying out great government pensions. Here’s my selection for the top ten excuses: 1. “Public employees deserve high pensions because they work for low wages.” FALSE. Perhaps true at one time, but not any more. In many instances, today’s government employee is earning 10%-30% more …

Economic Lessons for California from North AND South Dakota

Richard Rider, Chairman, San Diego Tax Fighters Undesignated Leave a Comment

North Dakota has the lowest unemployment rate in the nation at 3.5%. Ten counties in ND have less than 2% unemployment. They have an oil and gas extraction boom going on, though their low unemployment rate predates that growth in oil and gas jobs. Critics like to claim that ND is having a temporary boom that will shortly be followed …