Democrats want all your stuff. They aren’t only interested in your money to redistribute. They want to tax your unrealized wealth in paintings, cars, boats, homes, and so on. Under such a plan, they tax valuables each year. They tax the gains as if they were sold. Gov. Spanberger of Virginia plans to have such a tax on some items. Democrats like to say it’s only on the rich, but when the rich flee, they go to the next level of wealth—every time. Their latest scheme is to pass wealth or exit taxes. It seems unconstitutional to me, but I am no lawyer. Democrats take money from those taxes and give it to donors or voting blocs. The recipients often kick some back or pledge their votes. Democrats ignore massive fraud in states like Minnesota, California, and others. We probably don’t have a revenue problem. It seems more like a corruption and spending problem with little or no oversight. The Democrats always have some morality narrative to justify their taxes, such as it’s patriotic or you’re too rich and you’re taking it from someone more deserving. Across the country, about ten [actually 12] states are looking into or have already passed an exit or wealth tax to combat revenue losses from residents fleeing their high taxes, writes Townhall. They are going to red states, which have lower taxes. A wealth tax tallies up the value of your home, your cars, your furniture, your assets, your stocks, your bonds, your art, and there is a tax on that value,” Sandra Swirski, Founder & CEO of Integer, told The National News Desk. Swirski said among the most prominent is California’s proposed “Billionaire Tax Act,” which would impose a one-time 5% tax on the total net worth of anyone worth over $1 billion living in the state. Which would impact at least 200 people. The value of these assets, your net worth, in some cases, is very easy to calculate, such as stocks, bonds, and the like. In other cases, it’s really difficult to calculate,” said Swirski. Another state, Washington, who just passed a 9.9% tax on incomes over $1 million. The bill’s passage came around the same time Starbucks CEO Howard Schultz, who has an estimated net worth of over $3 billion, announced his move to Florida. Across the country, at least ten states, including Washington, are now exploring or have already passed an exit or wealth tax to combat revenue losses from residents fleeing to lower tax areashttps://t.co/rSrea03PNm — KOMO News (@komonews) April 8, 2026 States with Notable “Exit Tax”-Like Rules California—0.4% net worth tax Applies to individuals with a net worth of over $30 million in a tax year, regardless of where the assets are located. Covers both U.S. and overseas assets. Can apply for up to 10 years after leaving 2. New Jersey—8.97% or 2% on home sale gains Requires former residents to withhold either 8.97% of the profit from selling a NJ home or 2% of the sale price, whichever is higher. This is tied to the sale of real estate in NJ, not just any move. Pennsylvania—Deemed sale provision No official exit tax, but if you sell property in PA after moving out, it may be treated as a sale for tax purposes, triggering capital gains tax New York – Aggressive enforcement of existing laws While no direct exit tax, NY aggressively audits moves to ensure you’ve truly severed ties, especially if you still have significant income or assets tied to the state. Every time I sold a house, I had to pay a large state tax. Other states with similar enforcement—Massachusetts, Connecticut, New Hampshire, Rhode Island, Vermont, New York, New Jersey, California are often cited for strict residency rules and tax collection on departing residents. How These “Exit Taxes” Work Capital gains on assets held in the state after leaving can be taxed. Deferred income (e.g., stock options, deferred compensation) paid after leaving may be taxed in the former state. Property sales in the state after moving out can trigger tax liability. Estate/inheritance taxes can also be considered an exit tax when property is transferred after death. [New York City hopes to tax inheritance 50% after taxing it all throughout the person’s lifetime.] California and New York City are considering taxing businesses and even individuals after they move. If you’re moving from a high-tax state to a low-tax one, you may still owe taxes in the former state. If you sold appreciated assets, earned deferred income, or sold property after leaving, you could be liable. California, New Jersey, and Pennsylvania have the most direct “exit tax”-like rules. Others like New York and Massachusetts enforce existing laws aggressively on departing residents.     The post Democrats Want All Your Stuff appeared first on www.independentsentinel.com.