Something crazy is happening in California. This is the latest:
Lawmakers from California have proposed a bill that would compel companies making more than $1 million to turn over half their tax-cut savings to the state in order to fund programs that support low-income and middle-class families.So the answer to tax reform is to increase taxes on the people who pay them?
Assembly members Kevin McCarty, D-Sacramento, and Phil Ting, D-San Francisco, have proposed an Assembly Constitutional Amendment that would enact a tax surcharge on California companies, in order to help people who have been negatively affected by the GOP’s tax overhaul, the San Francisco Chronicle reported.
Critics of the tax overhaul have argued that a tax-heavy state like California will be hurt by declining revenues that pay for social programs, the Chronicle reported. The tax surcharge is a way of compensating for an anticipated loss in state revenue.
And these are the people who think that they can survive as an independent nation?
