Just when you thought California’s Democrat governor, State Senate and the State Assembly couldn’t squeeze the people of California out of another cent, the Democrats have somehow managed to ratchet down the thumbscrews just a little bit tighter.
As reported by Edmund DeMarche of Fox News, two elected Democrat lawmakers have introduced a bill that would take away half of the Trump Tax Break from certain California-based companies;
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.
But wait! Hasn’t the state government already given a new and hefty tax on the job-creators? Yep, sure did.
As reported by CNN back in 2012;
The measure (Prop 30) creates three new personal income tax brackets for rich residents and adds a quarter-cent to the sales tax. The higher tax rates, which hit single filers making $250,000 and up and married taxpayers earning at least $500,000, last for seven years, and push the top tax rate to 12.3% for filers earning $500,000 and above, or $1 million per couple. It is effective starting with the 2012 tax year.
If you thought that sky-high personal income, home, and auto taxes weren’t high enough, guess again.
The tax-happy Democrats in Sacramento have a bevy “special” taxes and fees placed on all of the hard working, legal citizens of California.
According the state’s Board of Equalization, many of the various special taxes and fees levied on Golden State residents would give any reasonable person pause;
Special Taxes and Fees Programs:
The Motor Carrier Office administers the following programs: