Dschrute3
Gold Member
- Dec 10, 2016
- 15,572
- 1,871
- 290
Communist Globalists. Folks should be very wary of em. "You didn't make that" is a destructive Un-American philosophy. Money doesn't solely belong to Government.
Good piece by Chuck DeVore
California is already seeing residents and businesses flee the state because of its sky-high taxes. Yet unbelievably, two Democratic state assemblymen have proposed to more than double the state business tax – hiking it from 8.84 percent to 18.84 percent on businesses with annual net incomes of more than $1 million. This would be the highest state corporate tax rate in America.
The rationale for the giant tax hike? Denying the companies tax savings from the federal income tax cuts recently signed into law by President Trump. Soak the rich! Billions in new tax revenue for the state! What could possibly be wrong with that?
In fact, a great deal is wrong with proposed massive tax increase. There’s no question it would only worsen the corporate exodus from California and make it even less likely that new businesses would be created in the state, which already has the second-highest state corporate income tax, after Alaska.
And guess who the tax increase would hurt? Everyone in California who needs a job. Fewer employers in the state mean there will fewer jobs for employees.
There’s an old saying: “The definition of insanity is doing the same thing over and over and expecting different results.” By that saying, it would be crazy for California to keep raising taxes in hopes of improving its economic position...
California and the definition of insanity: Why do Democrats love tax hikes so much?
Good piece by Chuck DeVore
California is already seeing residents and businesses flee the state because of its sky-high taxes. Yet unbelievably, two Democratic state assemblymen have proposed to more than double the state business tax – hiking it from 8.84 percent to 18.84 percent on businesses with annual net incomes of more than $1 million. This would be the highest state corporate tax rate in America.
The rationale for the giant tax hike? Denying the companies tax savings from the federal income tax cuts recently signed into law by President Trump. Soak the rich! Billions in new tax revenue for the state! What could possibly be wrong with that?
In fact, a great deal is wrong with proposed massive tax increase. There’s no question it would only worsen the corporate exodus from California and make it even less likely that new businesses would be created in the state, which already has the second-highest state corporate income tax, after Alaska.
And guess who the tax increase would hurt? Everyone in California who needs a job. Fewer employers in the state mean there will fewer jobs for employees.
There’s an old saying: “The definition of insanity is doing the same thing over and over and expecting different results.” By that saying, it would be crazy for California to keep raising taxes in hopes of improving its economic position...
California and the definition of insanity: Why do Democrats love tax hikes so much?
