Posted on 06/03/2016 8:21:07 PM PDT by EagleUSA
The L.A. County Board of Supervisors is planning to put a proposal on the November ballot that would impose a .5% tax for those with personal incomes exceeding $1 million annually. The revenue generated from the tax—estimated to be $250 to $300 million annually—would go toward funding the county’s 47-point program to wipe out homeless in L.A. county.
(Excerpt) Read more at msn.com ...
More liberal insanity. California will be a great example of how socialism will work in the US.
Here’s the thing that you typically notice when it’s a “fraud-tax”....it’s a nice round number. Half of one percent? Nice and extra round, if you ask me. So, it has no real validity...no one knows what that equals...they simply invented it and wait and see how much flows in. Three years later....they double it.
What’ll happen here is that the properties or residences in question....will be turned over to a ‘foundation’ or tax-dodge operation. Most of these really upper-class Hollywood types own a second and third place....outside of L.A. so they will pretend to live there mostly, and just visit the foundation property. It’ll all be legal of course.
The amusing thing on this whole help-the-homeless thing is that if you added up all the different groups, different services, and different assets at work....it’s a significant amount but each has a cost factor and people in the middle who carve off their share of the ‘loot’.
Politicians say, “More taxes will solve everything”.......and the band played on...
I am waiting to hear what happened with Michael Moore’s offer of his home in Michigan to some Somali refugees. I couldn’t find out if he followed through with that, and if the insurance company would cover the damage if he did.
+1.
L
“It will start out at a half percent. Which of course will not be enough. No amount is ever enough.”
It is not meant to be enough. Just another scam to steal more tax money from those residents that support Taxifornia and its liberal voting base. Taxifornia is already the nation’s number one welfare haven...deliberately...to add to the DemocRat voting rolls. SOS.
Then it’ll not be on a million, it’ll be on $750K, and so on.
This never works. SF, Oakland and other cities have tried this, and all the money went for staffing of the department and no homeless people were helped.
Ginning up $250-300M per year means they can find $50-60 billion that folks will admit to on their taxes. The rich have high priced accountants for that stuff. This is simply the brain dead council wishing again.
Is Los Angeles trying to end homelessness by essentially putting the homeless on local welfare?
How much of that do you think will actually be used to help the homeless???
Three years later....they double it.
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And try to tell you that it’s only a 0.5% tax increase, when actually it’s a 100% tax increase.
The democrat legislature here in Illinois tried to use that kind of math the last time they raised the income tax.
I predict a flood of millionaires moving just outside the county line if this is passed.
Prediction: Three years from now LA will still have a homeless problem.
It will be interesting to watch the rats spin why this tax didn’t work.
Not all homeless folks are poor. Some have jobs that pay well. They’ve just chosen the homeless lifestyle and don’t want a change.
GET AFTER IT YOU IDIOTS.
There will always be homelessness, and any money from taxes will just be wasted by government and liberals.
The estimates.....
The estimated are always a lot lower than projected.
We here all know why.
The libtards who put these sham estimates together also know why,
But they always fake surprise when they come in a lot lower than expected.
And we let them get away with the fake surprise.
There is no problem libtards cannot tax themselves out of.
I mean look at Illinois. Look at Detroit. Atlanta?
It just solves every problem it is enacted to fight, so well, everywhere it’s done.
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