Posted on 01/19/2018 7:16:32 PM PST by Beave Meister
California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state.
A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.
“Trump’s tax reform plan was nothing more than a middle-class tax increase,” Ting said in a statement. “It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals. This bill will help blunt the impact of the federal tax plan on everyday Californians by protecting funding for education, affordable health care, and other core priorities.”
As a constitutional amendment, the bill would require approval from two-thirds of the Legislature to pass, a difficult hurdle now that Democrats have lost their supermajority. If passed and signed by Gov. Jerry Brown, it would then go to voters for final approval.
(Excerpt) Read more at m.sfgate.com ...
Ask? Umm, no thanks.
Democrats: there is nothing left of the old extreme Left that’s extreme to them anymore.
Really sickening.
Go for it, Dem-Idiots, and drive more businesses, jobs and high income taxpayers out of California and into Arizona. And thank you!
But then, why am I not surprised?
Dims would take their grandmama’s last nickle.
Do these cali - lunatic legislators need an increase in their anti-psychotic meds? What commie losers .
The businesses are coming here to Vegas too. Our taxes are even lower than Arizona’s. Our sheriff is a corrupt dumbass though...
The GOP ought to be all over this one. This is the epitome of the way democrats try to destroy free enterprise and continue to keep citizens in control by disallowing them a chance at improvement. This will trap the businesses and citizens into not being able to use a tool handed to them by the GOP to protect themselves from debt and offer them the opportunity to afford things like medicine and better education.
If the GOP doesn’t hammer them in the press for this, they are idiots!
rwood
Remember, oh dense Democrats, the cost to move from Mexifornia will soon be found to be cheaper than paying you to pay illegals for votes and also paying for a silly train to nowhere.
Well, it costs a lot of money to build a trillion dollar bullet train from nowhere to nowhere!
One would hope that some big businesses there would do a Fast Shut Down and announce they are moving to another state.
Worse than that...they dig up the dead and then take the gold from their teeth and whatever else, that is worth anything, from the corpses.
Nope they know the illegals will line up to bring it in
My state is so freakin screwed up..I saw someone on tucker carlson’s show I swear that was a man but the name was Rebecca I think he/she the mayor of Oakland..and now you have this..Democrats want tax cut savings in their pockets because hey after all they are the only ones that know what to do with our money/sarc
Is there NOTHING these people don’t think they can ask for? Wow!
It seems to be a scam to have the County Sheriff also be the LV CoP.
Wow! These jerks sure know how to dream up ways to further drive industry out of the state. What they fail to realize is that TAX REVENUES GO DOWN when tax paying entities leave.
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