California demorats want businesses to give half their tax-cut savings to the state

phil ting

Phil Ting fighting for baby killers Planned Parenthood and to get more taxpayers’ money.

Of course they do. Greedy bunch they are.

From SF Gate: 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.

Democrats lost their supermajority following resignations of two Assembly Democrats, Matt Dababneh of Encino (Los Angeles County), and Raul Bocanegra of San Fernando Valley (Los Angeles County) amid sexual misconduct allegations. Another Assembly Democrat, Sebastian Ridley-Thomas of Los Angeles, resigned citing health issues. In the Senate, Democrat Tony Mendoza of Artesia (Los Angeles County) is taking a leave of absence pending an investigation into sexual misconduct allegations.

California Democrats have been exploring ways to help those in the state who could end up paying higher federal taxes next year under the Republican tax overhaul.

The GOP overhaul caps state income taxes and local property tax write-offs on the federal income tax return at $10,000, a move expected to hurt high-local-tax states such as California, where the average state and local tax write-off in 2016 was $22,000.

State Senate President Pro Tem Kevin de León introduced legislation this month that would allow Californians to get around the state and local tax cap with a voluntary donation to a charitable fund created by the state of any amount of owed taxes above $10,000. That donation — in lieu of taxes — would allow donors to write off the gifts on their federal tax returns.

DCG

25 responses to “California demorats want businesses to give half their tax-cut savings to the state

  1. If California businesses do this, then they should be in the dictionary for the definition of “useful idiots”.

    Liked by 5 people

  2. Hadenoughalready

    This will work out great – till those companies leave. Then what?
    I never thought “stupid” would ever become the new “common sense” of today.
    NUTS!

    Liked by 5 people

  3. Reblogged this on kommonsentsjane and commented:

    Reblogged on kommonsentsjane/blogkommonsents.

    California democrats want businesses to give half of their tax -cut savings to the state.

    As we now know the CA government in Sacramento is full of Mexicans from Mexico and have brought their Mexico mindset of corruption with them. They are just like the Mafia where the businesses have to PAY FOR PROTECTION.

    A protection racket is a scheme whereby a group provides protection to businesses or other groups through violence outside the sanction of the law. Through the credible threat of violence, the racketeers deter people from swindling, robbing, injuring, sabotaging or otherwise harming their clients. Protection rackets tend to appear in markets where the police and judiciary cannot be counted on to provide legal protection, either because of incompetence (as in weak or failed states) or illegality (black markets).

    Protection rackets are often indistinguishable in practice from extortion rackets since, for the latter, there will be an implied threat that the racketeers themselves may attack the business if it fails to pay for their protection. In an extortion racket, the racketeers agree simply to not attack a business. In a protection racket the criminals agree to defend a business from any attack. Conversely, extortion racketeers will have to defend their clients if threatened by a rival gang to avoid the client transferring their allegiance.

    That is the new CA, New York, and New Jersey – nothing but corruption.

    kommonsentsjane

    Liked by 4 people

    • There’s really a certain irony in this. As they strive to make California a Maoist Mecca, it looks more and more like Mexico. Soon, (if they survive that long), it will be indistinguishable with they exception of the pajamas and communes.

      Once that happens the Mexicans will return South since there will be more opportunity there.

      Liked by 3 people

  4. Kevin J Lankford

    For the life of me….Just can’t follow their logic. The only way to increase the tax on any class is to….well,…increase tax, which is actually automatically done when people have more of their own money to spend……Oh,…No,..now I am just confusing my self even more.

    Liked by 3 people

  5. Kevin de Leon is an idiot and the fact that he is trying to introduce legislation to side step the state tax deduction limit and classify it as a charitable contribution just shows how much he doesn’t know.
    1) Taxes are extracted from the taxpayers, you don’t have a choice on whether you want to pay them or not.
    2) Charitable contributions are voluntary, you can decide to make a charitable donation or not.
    So, is CA now saying that paying your state taxes is voluntary?
    In addition, the federal government (IRS) has a little thing called “substance over form” when they look at a lot of transactions and this will never pass that test.
    Kevin de Leon should spend more of his time trying to figure out how to reduce the CA tax rate than trying to find a pathetic work around.

    Liked by 4 people

  6. Really??? Whose pocket is it going to fill? Is it for the illegals? If I were a business owner and it comes to that, I close shop and move my business elsewhere, I could help other states reduce unemployment and poverty.

    Liked by 5 people

    • Alma . . . . I think you are right on target. For any and all business who can possibly move out of the state of California . . . they need to immediately make plans to do. The greed on the part of CA state government will never go away, they will always thirst for more and more and more!

      Under this lame plan, business will not have the capital to put into their business, the monies to increase wages, or for that matter to bring on new employees.

      I will say absolutely, this kind of absurd craziness is giving me a monstrous headache . . . just thinking about it!

      Liked by 4 people

      • Well then they could realize their dream of “collectivism”. Mao would be proud. They can shoot all the educators, scientists, artists and producers and just start collective farms. They can trade tomatoes for soy beans.

        They next thing you know the Mexicans would be flooding back South. All that would be left would be sexual deviants and girly men. It’s hard to be a drag queen when all that’s available to wear are puffy grey quilted coats.

        Liked by 4 people

  7. How often does one get to elect a thief? They not only are trying to finance their little communist scheme from the few with jobs, now they want to chase the employers out of the state. Who will pay then? This is “genius level process” here.

    They think its so popular to bash Trump that their comrades will find this amusing. That probably isn’t the first time he’s worn something pink. Funding infanticide by selectively taxing the productive has to be a new low.

    Liked by 4 people

    • lophatt . . . . Bravo! You called that correctly. No doubt they are all slapping each other on the back, congratulating one another on how brilliant this new scheme is. When other people sit back and wonder how on Earth there are so many loonies out on the loose–running the State of California.

      Liked by 5 people

  8. why doesn’t califaiure just cut their spending in half? duh. it’s califailure.

    Liked by 4 people

    • YouKnowWho . . . . They are far to greedy to ever come up with that kind of scheme. The only thing they know is whatever plan must include getting their grubby hands on more and more money–regardless of who it hurts.

      Liked by 5 people

  9. Not just businesses but many of the productive individuals leaving the state each year- something like 2500 people. As I have said, pretty soon these brainless will have no one to pay for all their giveaways to every immigrant, legal or illegal who comes here. The stupidity is mind numbing.

    Liked by 3 people

  10. If there ever was a plan to encourage businesses to relocate out of state this is it.

    Liked by 3 people

  11. Pingback: California Government Payroll Increased By $1 billion In 2017, Twice As Fast As Prior Year | ― ஜ ۩ Whiskey Tango Texas ۩ ஜ ―

  12. it just keeps getting “better” in commiefornia:
    “California Gov. Jerry Brown signs bill allowing illegal immigrants to vote”
    http://lasvegastribune.net/calif-gov-jerry-brown-signs-bill-allowing-illegal-immigrants-vote/

    Liked by 2 people

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