California Dems propose surcharge on businesses to fund social programs

Fox news ^ | January 20, 2018 | Bradford Betz

[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.

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“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.”

[kearnyirish2]

Aren’t social programs already funded through taxes? This is worse than NJ, where years ago they discussed requiring licenses for ocean fishing; unlike freshwater license proceeds, the state doesn’t stock the ocean...

[wetgundog]

It is a wonder that there are any businesses still Calafornica.

[Terry L Smith]

Dear meatloaf,

re: “While they’ve been navel gazing or whatever they’re obviously unaware of the mass outflow of their businesses to other states.”

I believe that instead of ‘navel gazing’, the more correct term would be:
“an entrenched self-inspection of their alimentary canal!”