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State Chapters => California => Topic started by: Right_in_Virginia on January 22, 2018, 09:15:59 pm

Title: California Democrats want some businesses to fork over half tax-cut savings to state
Post by: Right_in_Virginia on January 22, 2018, 09:15:59 pm
California Democrats want some businesses to fork over half tax-cut savings to state
Fox News, Jan 22, 2018, Edmund DeMarche

Calling the Trump administration’s tax reform plan a “middle-class tax increase,” two California lawmakers introduced a bill that would force large companies to fork over half of their expected savings to the state.

Assemblymen Kevin McCarty and Phil Ting, both Democrats, introduced Assembly Constitutional Amendment 22, which calls for a 10 percent surcharge on companies with a net earnings over $1 million. The plan could potentially raise billions for the state's social services programs.

“It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals,” Ting said in a statement, according to The San Francisco Chronicle. “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.”


More: http://www.foxnews.com/politics/2018/01/22/california-democrats-want-some-businesses-to-fork-over-half-tax-cut-savings-to-state.html (http://www.foxnews.com/politics/2018/01/22/california-democrats-want-some-businesses-to-fork-over-half-tax-cut-savings-to-state.html)
Title: Re: California Democrats want some businesses to fork over half tax-cut savings to state
Post by: truth_seeker on January 22, 2018, 09:26:39 pm
This will drive more businesses out, thereby reducing revenues to the state, not increasing them.

I am watching the gas tax initiative. A similar citizen protest, preceded the recall of Gov. Davis

It is a lot to hope for such a rediscovery of common sense and sanity.

Quite a few of my HS classmates have gone to Arizona. Prescott, Sedona, Tucson.
Title: Re: California Democrats want some businesses to fork over half tax-cut savings to state
Post by: Frank Cannon on January 22, 2018, 09:37:17 pm
Quote from: truth_seeker on January 22, 2018, 09:26:39 pm
This will drive more businesses out, thereby reducing revenues to the state, not increasing them.

I am watching the gas tax initiative. A similar citizen protest, preceded the recall of Gov. Davis

It is a lot to hope for such a rediscovery of common sense and sanity.

Quite a few of my HS classmates have gone to Arizona. Prescott, Sedona, Tucson.

What? I thought you would give a glowing report about how awesome SoCal is, despite this tax messiness, that no one would even think of leaving such a Shangri-La.
Title: Re: California Democrats want some businesses to fork over half tax-cut savings to state
Post by: truth_seeker on January 22, 2018, 10:15:06 pm
Quote from: Frank Cannon on January 22, 2018, 09:37:17 pm
What? I thought you would give a glowing report about how awesome SoCal is, despite this tax messiness, that no one would even think of leaving such a Shangri-La.

Dude I can actually hold two ideas in mind at once.  SoCal is awesome, and SoCal has problems.