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California Democrats want businesses to give half their tax-cut savings to state

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  • California Democrats want businesses to give half their tax-cut savings to state

    SACRAMENTO — 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.
    “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.”


    More here...http://www.sfgate.com/bayarea/articl...f-12508742.php


    Now I'm wondering how many more companies are going to leave 'The Golden State'?
    Credo quia absurdum.


    Quantum mechanics describes nature as absurd from the point of view of common sense. And yet it fully agrees with experiment. So I hope you can accept nature as She is - absurd! - Richard Feynman

  • #2
    Originally posted by Bwaha View Post
    ...
    Now I'm wondering how many more companies are going to leave 'The Golden State'?
    Only the ones that can.

    Any bets on where the new Silicon Valley will be located?
    Apple's big new facility won't be anywhere on the west coast, that much is certain.
    "Why is the Rum gone?"

    -Captain Jack

    Comment


    • #3
      Can you say, "One more reason to leave?"

      As for Silicon Valley, the "Silicon" part is in Chandler Arizona...





      All the actual chip manufacturing is in Arizona and Texas now due to California's onerous environmental laws.

      Comment


      • #4
        Originally posted by The Exorcist View Post
        Only the ones that can.

        Any bets on where the new Silicon Valley will be located?
        Apple's big new facility won't be anywhere on the west coast, that much is certain.
        Colorado?
        Quis Custodiet Ipsos Custodes? Who is watching the watchers?

        Comment


        • #5
          Originally posted by Bwaha View Post
          SACRAMENTO — 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.
          “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.”


          More here...http://www.sfgate.com/bayarea/articl...f-12508742.php


          Now I'm wondering how many more companies are going to leave 'The Golden State'?
          Every one of them that can afford to. The rest of them will simply close and then perhaps start up later elsewhere.

          California's government has gone insane.
          Quis Custodiet Ipsos Custodes? Who is watching the watchers?

          Comment


          • #6
            Hollywood and the motion picture industry is only still in California because of the huge investment they have in fixed facilities like stages, large props, and such. They're moving more and more of their operations elsewhere gradually and I'd expect at some point the industry will leave California entirely.

            The tech industry only has the software and support operations in California. These are essentially office jobs that produce no environmental issues and are there mainly because top management likes the available lifestyle and amenities that coastal California offers to the well-heeled and rich. They don't particularly care if their workforce lives in hovels and has trouble paying for food. Most never have, and never will.

            Comment


            • #7
              Good. More jobs coming to Texas.
              Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

              Comment


              • #8
                And North Carolina.

                I guess the Research Triangle area can expect some more companies to be moving in.
                Tacitos, Satrap of Kyrene

                Comment


                • #9
                  Originally posted by TacCovert4 View Post
                  And North Carolina.

                  I guess the Research Triangle area can expect some more companies to be moving in.
                  The Caliban keeps bragging about the size of their economy, but they are energy-dependent and the state government is hovering on broke. They had to de-criminalize property crime to keep their prison system from collapsing. Strange.
                  Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

                  Comment


                  • #10
                    Originally posted by Arnold J Rimmer View Post
                    Good. More jobs coming to Texas.
                    And more Texans forced into Colorado...
                    Quis Custodiet Ipsos Custodes? Who is watching the watchers?

                    Comment


                    • #11
                      Originally posted by Arnold J Rimmer View Post
                      The Caliban keeps bragging about the size of their economy, but they are energy-dependent and the state government is hovering on broke. They had to de-criminalize property crime to keep their prison system from collapsing. Strange.
                      Worse, their economy is becoming more and more service based. That is, it produces little or nothing tangible and is beginning to cater to a monied clientele. This will produce eventually a Third World social structure of a small middle class of business owners, a small rich class of elites, and a huge population of poor and working poor that mostly service the rich.

                      Comment


                      • #12
                        Originally posted by T. A. Gardner View Post
                        Worse, their economy is becoming more and more service based. That is, it produces little or nothing tangible and is beginning to cater to a monied clientele. This will produce eventually a Third World social structure of a small middle class of business owners, a small rich class of elites, and a huge population of poor and working poor that mostly service the rich.

                        I thought that was a progressive utopian ideal?
                        Tacitos, Satrap of Kyrene

                        Comment


                        • #13
                          Originally posted by Bwaha View Post
                          SACRAMENTO — 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.
                          “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.


                          More here...http://www.sfgate.com/bayarea/articl...f-12508742.php


                          Now I'm wondering how many more companies are going to leave 'The Golden State'?
                          And here I m wondering how much of this (see above in black) is to pay for illegals?
                          Quis Custodiet Ipsos Custodes? Who is watching the watchers?

                          Comment


                          • #14
                            Originally posted by Mountain Man View Post
                            And here I m wondering how much of this (see above in black) is to pay for illegals?
                            The Caliban government doesn't see a difference between legal and illegal residents in their state.

                            Comment


                            • #15
                              Originally posted by TacCovert4 View Post
                              I thought that was a progressive utopian ideal?
                              Only to Democrats...and Obamaniacs
                              Quis Custodiet Ipsos Custodes? Who is watching the watchers?

                              Comment

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