Bad news for California businesses

[LearnMe]

Originally Posted by Biker53

Every State takes more than they give. We wouldn't have trillion dollar deficits otherwise.

Not true that all states take more than they give...

https://www.theatlantic.com/business...takers/361668/

We have trillion dollar deficits because we spend more than we take in and cannot agree on what we should spend or take in, so we compromise our way toward borrowing while also allowing the most wealthy in the country to pay too little in taxes while we don't spend enough on education, health care, infrastructure and such that might actually give more people a chance at getting past subsistence levels of living AKA as better education, better jobs, better opportunity.

[LearnMe]

Originally Posted by Pilot1

Nobody, especially not Trump is advocating for removing regulations that actually do something positive for the environment. We are removing needless regulation that are unreasonably restrictive, and hurt the economy, and job creation.

But the left always argues in the extreme say Republicans want dirty air, and dirty water. That is a pure lie. Nice try though.

Mr. Bumper Sticker comment...

Apparently you have bought in "hook, line and sinker" what Trump supporters want to believe about Trump's axe to the EPA, but can you be specific as to what you are referring to before you have anyone assume all is well?

What regulations - specifically - are being removed that are/were "needless" or "unreasonably restrictive" or "hurt the economy" or "job creation." If you can't be specific and justify what you want everyone else to believe, then what are we to conclude?

Also, who are these people that claim "Republicans want dirty air, and dirty water." "Pure lie" or pure straw man argument??? Nonsense either way.

Some people DO NOT WANT OFFSHORE DRILLING off the Pacific Coast because the pros don't outweigh the cons (generally Democrats). Others want the opposite because they believe the pros do outweigh the cons (generally Republicans).

There's your difference if you want to have an adult conversation or at least start one...

[frankrj]

Already a high tax state and now a 10% additional tax if your company makes over one million. Pathetic. Ting using buzzwords to garner support from lower and middle income earners. I'm not in that rich group of earners but why not also surcharge these $5 million dollar and up home buyers. Charge them 10 percent more. They are driving up rents and home prices because these celebrities and retired pro athletes move to California.

[LearnMe]

Originally Posted by frankrj

Already a high tax state and now a 10% additional tax if your company makes over one million. Pathetic. Ting using buzzwords to garner support from lower and middle income earners. I'm not in that rich group of earners but why not also surcharge these $5 million dollar and up home buyers. Charge them 10 percent more. They are driving up rents and home prices because these celebrities and retired pro athletes move to California.

Not sure where you are from, but I've been in California pretty well all my life, and real estate appreciation has been going on as long as I can remember for all variety of reasons. Also for as long as I can remember, there's always been the concern to get a part of that appreciation before it becomes all the much harder the next year and the year after that, no different than today except that now the divide between the "haves and have nots" (of real estate) is all the wider.

Higher rates at higher values? As a home-owner I've got mixed emotions about all that and for most home-owners in California, messing with Proposition 13 that capped the rate at 1 percent is political suicide.

Sure seems to me, however -- all considered -- higher rates at higher levels of value makes sense, just like a progressive tax code not only makes sense but is also necessary if any attempt at balancing the budget is important.

For example: 1 percent on property values up to $1 million.

The median cost of a home in California is about half that, $500,000.

1.5 percent on property values over $1 million to $3 million.

2 percent on property values over $3 million up to $10 million.

3 percent on property values over $10 million.

Not exactly scientific and perhaps somewhat arbitrary just to offer an example, but what's wrong with this approach generally speaking? Depends on who you ask and their perspective about such things, but all I can say is that I would far rather pay 3 percent on a property over $10 million in value if I have that sort of income or wealth over paying only 1 percent because I can afford a home worth no more than $500,000. If you ask me, once people begin to bring in order of magnitude income far exceeding the average, they can and should pay higher rates than those struggling just to make ends meet.

Exactly how much more? Not exactly sure, but first step is to agree on a progressive tax approach which of course we've already long accepted as appropriate and necessary both here in California and as a country. I have certainly paid a good deal more than bottom tax rates due to a progressive tax code, and I've never been happier from a financial standpoint than when I was paying the most in taxes at the highest rates! Why? Because I was also making more money than most and able to invest more and more of it nevertheless! While most others were not able to do other than pay their bills, making only enough money to allow for no savings and/or investing in anything. IOWs getting nowhere while the rich get richer...

[Mtnluver8956]

Originally Posted by nononsenseguy

California Democrats want businesses to pay half of their tax savings to the State, and are proposing a tax surcharge on California business that make over $1 M to do just that.



This should incentivize California businesses to leave the state, or at the very least, rob their employees of bonuses and pay raises that other companies in other states have been giving after the passage of the tax reform bill.

Way to go, California!

California Democrats want businesses to give half their tax-cut savings to state - SFGate

Let them come to RDU