November 18, 2018

California To Business Owners: Half Of Your Savings From Trump’s Tax Bill Belongs To Us.

Are you kidding me, California? Actually, no—the politics in this left wing cesspool are so insufferable that this really shouldn’t shock us.

After President Donald J. Trump passed a historic tax reform package before Christmas, over 150 companies have doled out bonuses of $1,000 or more to workers, increased employee investment, and plan to boost philanthropic giving. Over two million workers have received bonuses. This is the middle class tax cut that Democrats voted against in December. This is the job creating and investing environment that they hate. They voted against our country’s economic growth, our workers, and the middle class to screw over the president. Now, they’re eating crow.

The Democratic Party thinks your money is their money (typical) and the state legislature in California is making that explicitly clear. They’re pushing for business to fork over half of their tax savings to the state because this is what you get when Democrats are in charge (via SFGate):

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.”

As a constitutional amendment, the bill would require approval from two-thirds of the Legislature to pass, a difficult hurdle now that Democrats have lost their supermajority. If passed and signed by Gov. Jerry Brown, it would then go to voters for final approval.

Yeah, this would be a sure thing, but a few state Democratic representatives in Sacramento have been accused of gross sexual misconduct, which has led to chaos within the state party. This fiasco has cost the party their supermajority—at least for the beginning of 2018. How dare businesses get tax relief: the motto of a California Democrat.

Source: Townhall

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