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California Democrats want businesses to give half their tax-cut savings to state
SF Gate ^ | 01/21/18

Posted on 01/21/2018 7:46:18 PM PST by Liberty7732

California lawmakers are targeting the expected windfall that companies in the state would see under the federal tax overhaul with a bill that would require businesses to turn over half to the state.

A proposed Assembly Constitutional Amendment by Assemblymen Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, would create a tax surcharge on California companies making more than $1 million so that half of their federal tax cut would instead go to programs that benefit low-income and middle-class families.

(Excerpt) Read more at sfgate.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: California
KEYWORDS: california; democrats; kevinmccarty; lofan; philting; socialism; taxcuts; taxes; taxsurcharge
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To: Liberty7732

This will get business moving.

Right out of California.


21 posted on 01/21/2018 8:07:04 PM PST by SaxxonWoods (CNN IS ISIS.)
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To: Liberty7732
I don't think they expect businesses to give half of their savings to the state, I think the state intends to take half of their savings.
22 posted on 01/21/2018 8:07:42 PM PST by libertylover (Kurt Schlicter: "They wonder why they got Trump. They are why they got Trump")
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To: Liberty7732

Those aholes tax everything that moves and then they tax everything that doesn’t!


23 posted on 01/21/2018 8:08:46 PM PST by Califreak (Take Me Back To Constantinople)
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To: AustinBill

Oh yes! I can hardly wait to see what the big leftists who run those companies have to say about it. If they are as committed to big government as they claim, then they should be thrilled to send in more money to the California Commies.


24 posted on 01/21/2018 8:12:47 PM PST by Pining_4_TX (For they sow the wind, and they shall reap the whirlwind. ~ Hosea 8:7)
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To: Liberty7732

Kalifukya


25 posted on 01/21/2018 8:13:20 PM PST by Bobalu (12 diet Cokes and a fried chicken...)
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To: Liberty7732

This sounds un-Constitutional.


26 posted on 01/21/2018 8:15:39 PM PST by Signalman
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To: Liberty7732

Confiscation. All the $$$$ would go down the black hole of Moonbeam’s train to nowhere.


27 posted on 01/21/2018 8:21:56 PM PST by beethovenfan (I always try to maximize my carbon footprint.)
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To: Liberty7732

I want all Democrat California politicians to donate half their brain to science. They can then call themselves “The Half-Wit” Caucus.

Oops, sorry. They are already half-wits. Then they can call themselves either “The Witless Caucus” or “The No Brains Caucus”. Either way is the truth.

Come on San Andreas Fault - do your thingy!


28 posted on 01/21/2018 8:23:57 PM PST by MadMax, the Grinning Reaper
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To: Jumpmaster

Absolutely !

California is a state that is in the last third of her book. Sadly, John Galt appears to have checked out early.


29 posted on 01/21/2018 8:31:13 PM PST by section9
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To: Migraine

Here’s one to try. I am a builder in California and generate more than a million dollars in profits. Easy with cost of housing here. I incorporate a new company in Nevada, “The Stick it to the Dumb California Legislators” (TSITTDCAL Corporation) I bid jobs and they supply the materials for the job(s). Say I can buy windows at Home Depot for $100. TSITTDCAL Corporation charges me $200 for the same window. Matter of fact gets them from the same HOME Depot. I might be a great builder but a lousy businessman. In effect I move the profit to a Nevada corporation out of the greedy sweaty palms of California and their beloved illegals.


30 posted on 01/21/2018 8:36:49 PM PST by Kozy (new age haruspex; "Everyone has a plan 'till they get punched in the mouth.")
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To: Liberty7732

If merely the POSSIBILITY of this becoming law doesn’t cause any business that can’t exist elsewhere out of that place, it just might take an earthquake.


31 posted on 01/21/2018 8:42:00 PM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day")
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To: Liberty7732

“Give us all of your money, the reconquista is not a cheap endeavor.”

-California state government.


32 posted on 01/21/2018 8:52:14 PM PST by factoryrat (We are the producers, the creators. Grow it, mine it, build it. MAGA!)
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To: Liberty7732

Some businesses will be told - “Leave California or face a shareholder’s revolt.”


33 posted on 01/21/2018 9:02:35 PM PST by reg45 (Barack 0bama: Gone but not forgiven.)
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To: SandyInSeattle

Velcome to Kalifornia! All You have is ours.


34 posted on 01/21/2018 9:11:45 PM PST by dvan (Send Them Home!Napolatono)
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To: SandyInSeattle

Now I really hope New California secedes from this mess. Although the Libs will probably end up running (ruining) it too!


35 posted on 01/21/2018 9:13:38 PM PST by dvan (Send Them Home!Napolatono)
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To: Sasparilla
"I’m sure that Kalifornia would tax sex if they could figure out a way to do it. Time for a tax rebellion there".

Well weren't they just trying a lawsuit to legalize prostitution? Then they could tax it! They've legalized pot haven't they. they expect to make big bucks on that!

36 posted on 01/21/2018 9:18:25 PM PST by dvan (Send Them Home!Napolatono)
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To: dvan
"I’m sure that Kalifornia would tax sex if they could figure out a way to do it.

Maybe they could tax sex the same way they want to tax driving - by the mile. Shorter, quicker trips would cost less...

37 posted on 01/21/2018 9:21:21 PM PST by eldoradude (Keep calm...we'll get to the carrion part later.)
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To: AustinBill

“Great idea. Let’s see Google, Apple, Facebook, etc. all rush to sign up for that.”

Not likely....Google, Apple, Facebook don’t care because they are structured as tax avoidance/evasion machines.

Google is actually a subsidiary of Alphabet inc. which is headquartered in the Cayman Island. Almost 90% of Google profits are hidden in this tax haven.

Apple is a subsidiary of Apple Holding which is based in The Islnd of Jersey, another tax haven.

Facebook is also HQ’d in the Cayman Island and “hid” almost $1 BILLION from the tax man.


38 posted on 01/21/2018 9:30:20 PM PST by PanzerKardinal (Some things are so idiotic only an intellectual would believe it.)
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To: SaxxonWoods

The minute I read the emphasis of this....I sent off an email to the mayor of my hometown...urging him to pack up a crew this week and go to California to recruit businesses to move to his city (in Alabama).

I have zero doubt that if this passes through and is made official...you would see at least 20,000 jobs up and move by the end of 2018, and probably over 100,000 in 2019.

The problem here is that their revenue collection as it is right now....is marginal for the future survival of the state, and these gimmicks being cooked up to strengthen the pot? They will only succeed in taking jobs out of the state....collapsing the structure in a matter of two or three years. If they’d allow tax-savings to come back, then job growth would occur, and more folks would be employed, and paying taxes.


39 posted on 01/21/2018 9:39:05 PM PST by pepsionice
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To: Liberty7732

California following the Venezuela Economic Model.


40 posted on 01/21/2018 9:40:50 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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