Posted on 01/20/2018 3:44:46 AM PST by lowbridge
Lawmakers from California have proposed a bill that would compel companies making more than $1 million to turn over half their tax-cut savings to the state in order to fund programs that support low-income and middle-class families.
Assembly members Kevin McCarthy, D-Sacramento, and Phil Ting, D-San Francisco, have proposed an Assembly Constitutional Amendment that would enact a tax surcharge on California companies, in order to help people who have been negatively affected by the GOP’s tax overhaul, the San Francisco Chronicle reported.
-snip
“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.”
(Excerpt) Read more at foxnews.com ...
My husband’s company left California 9 years ago. I miss my friends and the things we were able to do, but I certainly do not miss the politics of that state!
While Trump is busy draining DC of the swamp, California is busy draining itself of business.
New California secessionist movement to form a seperate state of the conservative areas to be called New California.
https://www.youtube.com/watch?v=iNu6EGj8wiQ
And change the name of the remainder to “Libturd Land”
Please do.
Tax Tu Hi
So the thread is interesting.
Because of the tax bill I ended up in a higher bracket, now costing me $12K/Yr in extra withholding. We’ll see how I end up when we do the real numbers, undoubtedly better but...not a tax cut for me. An increase without a doubt.
Trump is holding the line on immigration in a fantastic way. Part of me is willing to take some lumps to give him a win. But unfortunately the foreign Mr. Ting is right: it wasn’t a tax cut, it was a tax shift...to the upper middle class.
Guess they figure we got nowhere to go.
“Moonbeam Kalifoornia Czar Komrade Jerry Brown wants you to willingly remit your federal tax refund, as a good citizen, to the State.”
Talk about a DICTATORSHIP! Governments like that in Crazifornia will never have enough money and even if all the people of Crazifornia turned over all the money they make to the state government, it would not be enough. If I lived in that state I would have to do whatever would be necessary to move and as quickly as possible.
“Moonbeam Kalifoornia Czar Komrade Jerry Brown wants you to willingly remit your federal tax refund, as a good citizen, to the State.”
Talk about a DICTATORSHIP! Governments like that in Crazifornia will never have enough money and even if all the people of Crazifornia turned over all the money they make to the state government, it would not be enough. If I lived in that state I would have to do whatever would be necessary to move and as quickly as possible.
As luck would have it there is, presently, a handy dandy seperation movement going on in CALIF just now...
Another reason for common sense businesses to leave California.....
A once glorious and beautiful state has become nothing more than a glorified sh**hole thanks to liberalism/progressivism; congrats!
Moonbeam Kalifoornia Czar Komrade Jerry Brown wants you to willingly remit your federal tax refund, as a good citizen, to the State.
The land of fruits and nuts.
Obviously, these people have too much money; this must be corrected.
I got my W-2 yesterday and did the taxes. The Feds are giving me back thousands and the state of California is giving me $47
Similar to the last 2 years. I get a notice from the state later on that I owe like $100.
They never want to give money back.
At what point do businesses say enough is enough and leave California
“The trouble with Socialism is that eventually you run out of other people’s money.”
Margaret Thatcher
In CA one million dollars in earnings for a business is nothing - this will cover almost all businesses in the state. The ONLY people who will be hurt by the new tax bill are high earners who also own expensive real estate. And what about the new state “charity”
to help the top 18% who cannot deduct ALL their state taxes? And they are going to do this by constitutional amendment?
You almost want the Dems to do this it is so stupid.
Even Apple is looking elsewhere.
I just heard CA state democrats on the radio complaining that the new tax law was a tax on a tax, as far as Californians were concerned, now they are taxing a tax break and that is ok?
Another great Bob Hope line was when he was talking about the legalization of sodomy in California; he said he was leaving before they made it mandatory.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.