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View Full Version : California Democrats want businesses to give half their tax-cut savings to state




Swordsmyth
01-19-2018, 02:53 AM
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.

More at: http://www.sfgate.com/bayarea/article/California-democrats-want-businesses-to-give-half-12508742.php

AuH20
01-19-2018, 07:34 AM
https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcTdq4HSqbTO9Nw6PXoQGfRfXVwUIhYL8 UqWCWxXxHojkq7K20lH

oyarde
01-19-2018, 07:41 AM
So , half to the Politburo fund . Very generous of these california lawmakers .

euphemia
01-19-2018, 07:43 AM
Maybe this will embolden businesses to fight back. Some companies moved out of California because it's too expensive.

oyarde
01-19-2018, 07:43 AM
California looks to be added to the shithole country list .

juleswin
01-19-2018, 07:53 AM
This is just a start, if I remember correctly, didn't the new tax law reduce the amount in taxes corporations can deduct from federal taxes they pay in state taxes or something like that? Someone help me out here :)