Some would go so far as to say that it’s an addiction that Democrat office holders have. Raise taxes. Now the Presidents tax cuts benefited both individuals and corporations. That doesn’t sit well with Democrat office holders in California. This from 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”?
“We promote the tax advantages that Nevada offers,” says Chase. What’s wrong is that not only are businesses leaving California, so are it’s citizens. One developement in Nevada has shown that 40% of the new lots being sold there are folks from California. This from Georgia Chase, Director of Sales for Clear Creek Tahoe. “It is bittersweet for them. A lot of them they don’t want to leave and it is hard for them but they’re just at the breaking point of disgust and that is really how most of them feel — so frustrated with the regulations and the policies, that they work so hard and they have to give so much money up,” says Chase.
In closing, this is the good news from Chuck DeVore. “Fortunately for Californians, the constitutional amendment proposed by Assemblymen Kevin McCarty of Sacramento and Phil Ting of San Francisco stands little chance going into effect, because it would require approval by a two-thirds vote in the state Assembly and Senate, followed by approval by state voters in November”.
369 total views, 18 views today
I have been writing on and off the past 46 years. First piece I ever wrote was my high school underground newspaper. A father of two twenty somethings. Happily married and presently living in Ohio.