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California Dems propose surcharge on businesses to fund social programs
Fox news ^ | January 20, 2018 | Bradford Betz

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 ...


TOPICS: Business/Economy; News/Current Events; US: California
KEYWORDS: bluestates; california; taxandspend; taxes
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To: lowbridge

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!


41 posted on 01/20/2018 5:36:38 AM PST by originalbuckeye ('In a time of universal deceit, telling the truth is a revolutionary act'- George Orwell)
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To: lowbridge

While Trump is busy draining DC of the swamp, California is busy draining itself of business.


42 posted on 01/20/2018 5:57:44 AM PST by redfreedom
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To: lowbridge

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”


43 posted on 01/20/2018 5:58:51 AM PST by Uncle Lonny
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To: Dan in Wichita

Please do.


44 posted on 01/20/2018 6:01:50 AM PST by Hardastarboard (Three most annoying words on the internet - "Watch the Video")
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To: Phil DiBasquette

Tax Tu Hi


45 posted on 01/20/2018 6:03:16 AM PST by A_Former_Democrat (Another Islamic terrorist event, and no “outrage” from the “Muslim community”. Again)
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To: Mariner

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.


46 posted on 01/20/2018 6:11:58 AM PST by Regulator
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To: Terry L Smith

“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.


47 posted on 01/20/2018 6:14:00 AM PST by kagnew (WWW)
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To: Terry L Smith

“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.


48 posted on 01/20/2018 6:14:00 AM PST by kagnew (WWW)
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To: lowbridge

As luck would have it there is, presently, a handy dandy seperation movement going on in CALIF just now...


49 posted on 01/20/2018 6:19:00 AM PST by TalBlack (It's hard to shoot people when they are shooting back at you...)
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To: lowbridge

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!


50 posted on 01/20/2018 6:22:26 AM PST by cranked
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To: Terry L Smith

Moonbeam Kalifoornia Czar Komrade Jerry Brown wants you to willingly remit your federal tax refund, as a good citizen, to the State.


Which he has every right to ask you to do and you have every right to decline. But these clowns want to take businesses’ tax refund by force of law. It’s fascinating how few of these people gift their tax break back to the government even while saying they don’t deserve it.


51 posted on 01/20/2018 6:27:27 AM PST by hanamizu
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To: lowbridge

The land of fruits and nuts.


52 posted on 01/20/2018 7:12:18 AM PST by bgill (CDC site, "We don't know how people are infected with Ebola.")
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To: WayneS

Obviously, these people have too much money; this must be corrected.


53 posted on 01/20/2018 7:42:13 AM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day")
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To: lowbridge

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.


54 posted on 01/20/2018 7:42:37 AM PST by minnesota_bound
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To: lowbridge

At what point do businesses say enough is enough and leave California


55 posted on 01/20/2018 7:57:54 AM PST by Robert357 ( Dan Rather was discharged as "medically unfit" on May 11, 1954.)
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To: lowbridge

“The trouble with Socialism is that eventually you run out of other people’s money.”

Margaret Thatcher


56 posted on 01/20/2018 8:02:02 AM PST by savedbygrace
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To: lowbridge

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.


57 posted on 01/20/2018 8:40:14 AM PST by theoilpainter
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To: lowbridge

Even Apple is looking elsewhere.


58 posted on 01/20/2018 8:43:34 AM PST by Vinnie
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To: lowbridge

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?


59 posted on 01/20/2018 9:11:27 AM PST by rey
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To: FreedomPoster

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.


60 posted on 01/20/2018 9:20:00 AM PST by rey
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