Big Companies Benefiting from Trump Tax Cut Under Siege by California Socialists
Although California’s deluge of complex taxes have already provoked many sensible business owners into relocating elsewhere, the additional taxes proposed by the state’s leftist legislators in response to President Donald Trump’s tax reform bill is apt to only worsen the ongoing exodus.
Two California legislators in particular seek to impose a tax surcharge on every California business that earns more than $1 million per year, according to the San Francisco Chronicle, so that any money businesses save from Trump’s tax bill can effectively be redistributed to the poor.
“Trump’s tax reform plan was nothing more than a middle-class tax increase. It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals,” said state lawmaker Phil Ting in a statement.
“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,” he added.
Ting and fellow lawmaker Kevin McCarty’s bill, Assembly Constitutional Amendment 22, would specifically add a 10 percent surcharge of earnings above $1 million and produce an estimated $17 billion in added revenue per year, as reported by The Fresno Bee.
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That money would then be funneled “to low-income workers in the form of an expanded earned income tax credit, tax rebates or other tax relief to be determined.”
It would also be used to fund “state-funded child care, early childhood education, affordable health care and college financial aid.”
The money would basically be used to prop up California’s already immensely bloated welfare system. Great.
There’s just one glaring problem: who would be around to pay the tax?
Would this worsen California’s business exodus?
Businesses have been fleeing California in droves for years now because of the state’s outrageous taxes, including Toyota, Occidental Petroleum and even Nestlé USA, which announced plans to relocate its U.S. headquarters from California to Virginia last year.
Investors Business Daily contributor Terry Jones pointed out at the time that “(a)s many companies have found, California is an awful place to do business.”
“The $26-billion-a-year food conglomerate is discreet, of course, about its reasons, citing a desire to be closer to its core customers and other bland corporate pabulum,” he wrote. “But the fact is, Nestle and its corporate brethren in California that actually make things are overtaxed and overregulated.”
And apparently, Ting and McCarty want to overtax and overregulate California’s businesses even more. Wonderful.
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The only saving grace for California business owners is that Ting and McCarty’s bill “has no chance of winning the necessary two-thirds vote in the Legislature needed to place it on the ballot,” according to the Bee.
Good. As it stands, California already hosts a stunningly high 8.84 percent corporate tax rate, making it among the highest in the nation. Its sales tax, property tax and income tax rates are just as bad.
If anything, California desperately needs to reduce its tax rates, but God forbid its harebrained leftist legislators ever figure this out. https://conservativetribune.com/companies-under-siege-california/
California is going to officially allow illegal aliens to vote. That means the end of the two party system in California with democrats having absolute power. As you have pointed out, it will be interesting to see how the state manages once businesses join the middle class in their flight from the state.
The state of Californico is going to be shocked when someone sues and the Supreme Court rules that votes from illegals won't be valid. In addition to this travesty, there was a story a few days ago on MSN that the boondoggle known as the Central Valley "Railroad To Nowhere" is billions over budget and years behind schedule. Eventually this misguided state is going to run out of the other people's money.
There should be organizations filing lawsuits everytime someone in government comes up with one of these lamebrianed plans to suck yet more money out of the people in their state. And every other form of imposed 'rules'.
Does California actually have that right? What does their state constitution say? Waht are the laws on the books there? Can they be reversed or is it more entailed?
Of course they don't, the claim is ridiculous on the face of it. Just more Republican lies. All studies done have found less than .2% of actual voter fraud. Illegals do not vote in California elections, they stay as far from voting booths as possible as they don't want to risk deportation. If you want to make a fanciful claim you might try backing it up with even a shred of credible evidence if you want to be believed.
Sorry dude. When I was stationed in San Fran, I lived in Bay Point/Antioch area. The apartment complex was pure ILLEGAL ALIENS and every time there was an election, BUSES came to pick up the ILLEGAL ALIENS to take them to the voting polls - where they voted - and then they came back to the complex and bragged about who they voted for.
So your response ain't correct.
Did you check their immigration status? Get some proof before you make such ridiculous claims. The fact is Republicans are really upset about the 50 million legal Latino Americans who DO get out and vote each election cycle who the Republicans can't tell apart from the 5 million here illegally.
Since you have no idea what work I do - your supposition is actually quite preposterous - yes, I knew their immigration status. "Most" were here on work visa's (can you say farm belt?) My "part-time" job was as the complex superintendent and I got to know, personally, each family and their status.
Latino's only make up 27.3M of the registered voters, not 50M as you so erroneously posted.
CA Latino Voter Registration @madrid_mike
According to a 2015 PPIC study: “Whites make up only 43 percent of California’s adult population, but 60 percent of the state’s likely voters.”
But “Latinos comprise 34 percent of the adult (eligible voter) population, but just 18 percent of likely voters.” - A LATINO BETWEEN THE AGES OF 18 – 24 IS MORE LIKELY TO BE ARRESTED THAN TO VOTE
.pdf
Next whine.
I didn't say Republicans are upset by the Latinos registered to vote, I said they were upset and confused by the number of legal Latino Americans there are and just assume every brown skinned person with a spanish accent must be an illegal.
" There were 56.5 million Hispanics in the United States in 2015, accounting for 17.6% of the total U.S. population."
I'm sure you're a stellar superintendent, but I have a problem believing that you actually know the legal status of every person who lived in the complex so that I can use your anecdotal evidence as actual evidence for illegal voting. Did you see the illegal immigrants cast votes? If so, why not alert authorities?
Please do enlighten me then and prove extensive voter fraud being perpetrated by illegal immigrants. Otherwise, my facts stand, the whole BS argument of illegals voting from the poorly educated right wing bigots angry at the browning of America is bunk.
How about this:
Now, retired ICE special agent Claude Arnold has the answer to the question of whether illegal aliens vote in elections.
He told Fox News's Bill O'Reilly that he's worked in six states, arrested at least 1,000 illegal immigrants during his career and found that most of them had voter registration cards. He claimed that about 10% of them actually voted.
Arnold told O'Reilly:
Wrong again. The country is not "browning" - most of the Hispanic immigrants (legal or illegal) are white (and Christian). Of course, progressives, like yourself, have to try and convince them that theyre brown and that they are victims and that democrats are their protectors. Thus, the reason why there is no DACA deal - specifically that democrats oppose any kind of border security. California is the model for progressives. Replace the citizens of the US, whom you don't like with third world non-citizens who will blindly give democrats the vote.
Wow! It's amazing that NONE of the reports the Claude Arnold made of these alleged felony voter fraud EVER hit the media. One would presume that the multiple state and federal investigations would have cited at least ONE of the complaints he filed against these illegal immigrants that he alleges voted.
Additionally, it's unfortunate that ICE special agent Claude Arnold obviously has NO CLUE what 'anecdotal' actually means. In fact his allegations are purely 'anecdotal'.
Pfffft.
In New York, Emperor Cuomo is trying to find ways to extract more money form the citizens as we don't really, ih his mind, deserve tax savings.
Toyota:
Occidental spun off, one to TX, one stayed in CA.
Nestle went from on D state to another. VA kicked in 16 million for the move. VA will never recoup their investment.
So 1 and 1/2 now equates to 'droves' for years. HA!
Seriously, CA alone is 14+% of the national GDP, almost twice that of TX. CA's GDP outperforms their % of the population and they have some of the best educated workers in the country. CA receives the highest percentage of venture capital by factor of 4.
Ya, CA is a real 'shit hole' for business...Sheesh.
If I lived in California, I would support the idea proposed by the Senate Pro Tem: Create a charity, allow people to donate to that charity, and write-off the resultant donation on both their Federal and State taxes.
This is what LA used to look like and Trump would love it to look like that again.
Was just in the news up here in flyover Wyoming that Weatherby firearms is relocating from cali to Sheridan wyo.