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How is this materially different from the treatment of non-state-resident income taxes? (Not a rhetorical question - I'm sincerely asking.)
Well, "you did work in this state, a transaction occurred, and we'll tax that transaction" is much easier to parse than "you visited our state to do work or something much like it, we taxed you on that, AND we'd like to tax you on every asset you own elsewhere in the world."
100% agreed However, if that's your reasoning, then I think your issue may be w the concept of wealth taxes generally, vs. CA specifically What's your opinion of USA's unique citizenship-based taxation? Many are surprised to learn that there are people who 1/2
...have never set foot in the U.S. and never worked for a U.S. entity, but have woken up one day to find they have a huge U.S. tax liability, simply because they had an American parent (thereby inheriting American citizenship and with it, an ongoing, global tax obligation.) 2/2
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