Posted on 01/16/2020 5:59:14 AM PST by knighthawk
SACRAMENTO, Calif. (AP) — California is considering raising taxes on some of the country's largest companies, but the size of the tax increase would depend on how much its highest-paid executive makes compared to its employees.
The bigger the gap, the bigger the tax increase.
The bill by Democratic state Sen. Nancy Skinner passed out of its first committee hearing on Wednesday, keeping it alive a head of a Jan. 31 deadline to pass the Senate.
(Excerpt) Read more at foxbusiness.com ...
Bolsheviks gotta bolshevik
Atlas Shrugged
Another “Hold muh beer’ moment for the political clowns in California. When you think the can’t do anything crazier than they did last week, another one steps forward and says “Hold muh beer, and watch this!” and proceeds to prove you wrong.
This one will chase even more businesses out of CRaziformia.
Considering how few ‘highly compensated’ executives openly support Trump, I say let them fend for themselves - they’re getting EXACTLY what they demand for the country.
So, in sum, the highly-talented people will go elsewhere where they can demand larger sums of money and CA companies will either leave (most likely) or make do with scrub-level people.
Excellent news. Hope it passes. Other, better states, with better people will benefit. Good for the entire country.5
These people honestly believe the weather and beaches will keep people in CA.
So, in sum, the highly-talented people will go elsewhere where they can demand larger sums of money and CA companies will either leave (most likely) or make do with scrub-level people.
...
There will be loopholes.
Elon Musk takes no salary, but borrows against his stock holdings.
looks like forcing the Middle Class out of the State wasn’t enough, now they want the Wealthy to move too.
There is no such thing as a business or corporate tax. The end-user pays all.
Isn’t anyone curious how elected officials earning a couple hundred K a year are all millionaires? But no, let’s go after someone who is productive.
And in other news, Texas GOP officials admitted funneling several hundred thousand dollars to California Democrat campaign accounts. Asked to comment, Texas officials replied that they are very pleased with the work the California Democrats have accomplished.
The top execs own multiple houses both in and out of CA.
Herding them is like herding cats—they just scatter in all directions, and then sneak back at feeding time. ;-)
There are two tragedies involved. First, the immolation of the (formerly) greatest state in the nation.
Second, all those degenerate kalifornians fleeing to civilized states to turn civilization into the sewer (like they created) back home.
How....”fair” of them. Maybe it can help the cities homeless crisis, energy crisis, garbage and disease crises, illegals crisis, etc. But we all know it won’t.
There will be loopholes.
= = = =
Yes. And with loopholes come bribes.
I think you’ve identified the motivation for democrats to pass this legislation.
Welcome to Venezuela del Norte. It works so well down there, why not try it up here?
So, instead of helping the employees get some of this money, the state is going to take it away so the employees don't get any? Ha. Classic.
By the way, Walmart has 2.2 million employees (maybe more). Their CEO made around $24 million.
Dear Commies, what is 24 divided by 2.2? Good, you remember 3rd grade math. That amount is for an annual gross pay increase (that's your pay before taxes and other deductions from your check, you know, the bigger number).
Now, divide that by 26, the number of two-week pay periods in a year. Congratulations! You have enough to buy a Sam's Choice soda from the vending machines near the store entrance. I think they're still $0.25/each. You'll need to bum a dime if you want two, though.
These idiots just don’t learn. You can’t punish the big guy for their state’s financial failures.
In a study displayed by the Dallas Business Journal for the year 2016, with over 1800 companies bailing out of California for a better business atmosphere.a majority went to Texas.
As California has transformed into a relentlessly anti-business state, those redeeming characteristics haven’t been enough to keep firms from leaving. Relocation experts say that the number of companies exiting the state for greener pastures has exploded.
In surveys, executives regularly call California one of the country’s most toxic business environments and one of the least likely places to open or expand a new company. Many firms still headquartered in California have forsaken expansion there. Reeling from the burst housing bubble and currently suffering an unemployment rate of 12 percent—nearly 3 points above the national level.
The only thing that is keeping the population close as the people move out, employees in particular that can’t pay California’s high taxes, is the explosion of immigrants, legal and otherwise. But that creates a problem within the businesses as the uneducated and untrained force leaves gaps in employment for companies that are staying trying to ride out the state’s current attacks.
So unless they figure it out that if they try to hit the big guy he will move out on you creating unemployment, a need for social services, and a third world country, they are imploding rapidly.
rwood
A business has a good or service that costs $1.00.
The government taxes the business $.10
The good or service now costs $1.10.
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