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The original response was...

<<<In addition to the Federal 10% penalty, California has a 2.5% penalty on premature distributions. If you are in the top federal bracket (only $283,150 MFJ) and live in taxifornia you will net less than 40% of a premature IRA distribution after taxes and penalties.>>

And BRG responded:

<<And the earthquakes are a just an added bonus I guess?>>

LOL!!!

No, actually, the earthquakes are a given. It's the annual summer/fall brushfires and annual winter flooding that the REAL bonus!!

<<Do California taxpayers consider it a fair system? You must be getting the best services in the country since you are paying the highest taxes? Or do your politicians have a stench every bit as rotten as the ones we have here in NJ?>>

I can't speak for ALL CA taxpayers, of course. But I can tell you that I was a native Californian...live there for over 40 years. Some of the most beautiful country and seacoast in the world (don't believe me...check out Morro Bay...or take a walk down 17 mile drive in Pebble Beach...or watch the sunset over the Laguna Beach cliffs).

I relocated to Arizona about 8 years ago. The taxes, tax system (income, property, the whole kit and kiboodle), the regulations, and the politics all had a hand in driving me out. But the taxes were the major issue.

TMF Taxes
Roy


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