On Aug 10, 8:49*pm, Peter wrote:
On 2010-08-10 18:45:28 -0700, John Higdon said:

It doesn't matter how much you may have, no one wants to see the state
draining one's life savings. California is throwing money down the
toilet. How many taxpayers does it take now to support one former
state-employed retiree (since the crash)? It would appear that anyone
with any money left at all is going to be taxed up to his eyes.

OR ...

Such folks, like myself, are going to move to an adjacent no-tax state
(Nevada and Washington come immediately to mind).

Many already have been doing that for years.
* Taxes by State -source- Retirement Living
http://retirementliving.com/RLtaxes.html

Knew a Couple who Retired (1960s} in California;
Sold their home and Car and everything in California.
Bought an very nice RV along with a small Car in
Nevada. Build an RV Parking Pad and Hook-ups
at Son's House {Marin} and a Sister's House
{Auburn}; both in California. He was a Federal
Retiree and she eventually received Social Security.
They were On-the-Road for 6~8 Months a Year
and 'unofficial guests' in California for the remainder.

Maybe around 25% of the people in the SF Bay
Area that I retired with in the late 1990s are now
'former' Californians.

- It has already been decided by the SCOTUS that California, and other
- states with high income taxes, CANNOT go after its former residents,
to
- tax them on on tax-sheltered income which was earned while a
resident
- of California.

-IF- You are a CAL-PERS Retiree and have what
is called a California 'Source' Income : The State
of California will Tax that 'Source' Income as -if-
You were still Living in California.

First find a Job {any job} in another State; so that
the 'Move' is Tax Deductible.
Second - Sell your California Home and Buy a Home
in the new State.
Third - Move Everything Investment to your new State.
Fourth - Sell all California Real Property and reinvest
in Real-Estate in the new State.
Note - Do It all in the same Tax Year so you only
have one year to do the Double Tax Keeping from
California to the new State.

California Here I Come !
http://www.youtube.com/watch?v=YK0gLBqRIG0
-is-becoming-
California Her I Go . . . ~ RHF