In other news, California has decided that ANYONE who works for a living should leave the state, and is annoyed that they’re not already leaving fast enough.
Well; that ought to go over like a salted fart in a peanut shell!
Then they wonder why people who can actually afford it are leaving the state!
Newsome just announced last week that ALL illegals would be given free healthcare in the state THIS I’d how the bastard is going to afford it!! I can see a mass exodus from CA.
Great news! Let the tsunami of moves begin! Let’s get the conservatives OUT!
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SECTION 1. (a) The following state taxes are imposed as follows, subject to being operative as provided in Section 4, for the purpose of funding comprehensive universal single-payer health care coverage and a health care cost control system for the benefit of every resident of the state, and reserves deemed necessary to ensure payment:(1) An annual excise tax is hereby imposed upon a qualified business, as defined by the Legislature, for the privilege of doing business in this state at a rate of 2.3 percent of the gross receipts of that qualified business minus the first two million dollars ($2,000,000) in annual gross receipts of that business.
(2) (A) A payroll tax is hereby imposed on every employer who pays wages or other compensation to 50 or more resident employees for services performed either within or without this state at a rate of 1.25 percent of the aggregate amount of wages or other compensation paid by the employer to the resident employees.
(B) In addition to the payroll tax described in subparagraph (A), a payroll tax is hereby imposed on every employer who pays wages or other compensation to resident employees for services performed within or without this state at a rate of 1 percent of the aggregate amount of wages or other compensation paid by the employer to the resident employees in excess of forty-nine thousand nine hundred dollars ($49,900) per resident employee.
(C) The employer shall for each payroll period deduct and withhold from compensation paid to resident employees the amounts of tax imposed under subparagraph (B).
(3) (A) In addition to any other tax imposed under the Personal Income Tax Law (Part 10 (commencing with Section 17001) of Division 2 of the Revenue and Taxation Code), there is hereby imposed for each taxable year upon the entire taxable income of every resident of this state whose income is subject to tax under Section 17041 of the Revenue and Taxation Code, a State Personal Income CalCare Tax in the following amounts and at the following marginal rates upon the amount of taxable income computed for the taxable year as if the resident were a resident of this state for the entire taxable year and for all prior taxable years for any carryover items, deferred income, suspended losses, or suspended deductions:
For taxable income:......................The marginal tax is:
$149,509 but not over $299,508.......0.5% of the taxable income
$299,509 but not over $599,012.......1% of the taxable income
$599,013 but not over $1,299,499.....1.5% of the taxable income
$1,299,500 but not over $2,484,120..1.75% of the taxable income
$2,484,121 and above...................2.5% of the taxable income
Employers are already fleeing CA and this will just accelerate their exodus. This is a huge job killer.
And leaving California to avoid its high rate is a crime punishable by 10 years in prison, right?
Will this end private health insurance in California?
.......arguably this is a good thing. If passed and put in to practice it’s effects will be devastating to California. America will have it’s own little Venezuela on the West Coast that will HELP educate the rest of America on Socialism better than all the books and speeches and videos in the world.
Will the last person leaving CA please remember to turn the lights off.
They really want California to have two classes - those on welfare or who work in the underground economy on one hand and the super rich on the other.
This may be because Medicare is broke and will run out of money on 2028, along with Social Security. And Congress wants to spend trillions on renewable energy but allow Social Security to die of no funding.
OMG! CA is driving out anyone who can get a job anywhere else.
Socialism is a bitch. Expensive too! My tagline is still in effect.
Translation: California is going broke to pay for socialism induce a new fair share program.
It NEVER gets better here
In the US as a whole roughly 53% of adults pay no federal income taxes.
Wonder what the CA figure is.
So the job creators and average working people will have an even bigger burden. And think of the magnet effect for the world’s would-be immigrants.
But....
Newsom would probably get more than the 67% victory vote against a recall or an opponent next time. They love those taxes./S
Now I’m really, really wondering if Prince Harry is here on a type of visa that allows the Harkles to avoid paying US income taxes...