The liberal hell hole known as California continues to achieve new lows, and today we're seeing this confirmed yet again with shocking reports that the state of California intends to strip businesses of their GOP tax breaks in order to finance welfare programs.
This is absolutely infuriating, and I'm not even sure how this is legal, to begin with.
This is what California is proposing, however, to take one-half of your tax-cut.
The <a href="http://www.latimes.com/politics/essential/la-pol-ca-essential-politics-updates-california-democrats-pitch-business-tax-1516315691-htmlstory.html">LA Times</a> reported:
<blockquote>"Assemblymen Kevin McCarty of Sacramento and Phil Ting of San Francisco introduced Assembly Constitutional Amendment 22 Thursday that would raise corporate taxes on California companies with revenues higher than $1 million. The state tax hike would be for an amount equivalent to half what they received from the federal tax cut."</blockquote>
<blockquote>"McCarty and Ting's proposal faces long odds. It requires supermajority support in both houses of the Legislature and, if passed, would also need voter approval on the November 2018 ballot."</blockquote>
California is dead set on harming small business to bolster welfare recipients. That's not surprising since they're already attempting to prosecute small business owners who cooperate with Immigration and Customs Enforcement Agents.
It's really important to underscore that it's Southern California which is a problem and not the northern counties which are heavily red.
"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."
First and foremost, Ting is nuts. <i>Small business owners are middle-class</i>, although his proposal tends to push many of them towards the poverty level.
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Literally, southern California is the poverty capital of America already, despite elites being ultra-wealthy. That's Communism in a nutshell.
"I've seen enough billionaire justice in the first 11 months of this presidency to last my lifetime," McCarty said in a statement. "At a time when reckless federal tax policy favors billionaires over middle-class workers, ACA 22 will help ensure that California can continue to grow and support middle-class families throughout the state."
McCarty is nearly as insane as Ting. The fact that Californians in the north haven't sent an angry mob after him yet is difficult to process.
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Sadly, if this hits the ballot, it will pass because California is flooded with illegal aliens, homeless Veterans, drifters and transients, drug addicts, and welfare queens.
Want an idea just how completely crazy SoCal is? Listen to the Anti-Trump podcast below:
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Liberals just don't understand, small business owners cannot afford these disturbing losses.
California claims it has such a massive economy, but it is also the <a href="https://www.usgovernmentspending.com/compare_state_spending_2017b40a">welfare capital</a>. $44 Billion spent on welfare alone in 2017. It's estimated that California spends more on Child Care in "social programs" (welfare) than most states spend on their entire welfare system.
More than one-third of the entire country's total welfare recipients reside in California. <i>It's the economy, stupid</i>, and California's massive economy means nothing when the rest of the nation is footing their extremely reckless policies on welfare.
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39.5 million citizens are in California, and the amount of welfare (33% of all US welfare) that goes to California for what's less than 13% of the US population is extremely disturbing considering all of us are paying for their desire to remain a welfare hell hole.
Let's first and foremost discuss mathematics, in a hypothetical sense:
If your small business builds and resells birdhouses - and you have $5 million per year in sales - employing fifty people that each earns a salary wage - and pay for supplies and the overhead costs of the factory - including the utilities - as well as paying taxes - As the owner? You probably aren't left with much cash as profit, despite the opinions of the Communist left-wing of American politics.
Let's break those expenses down:
If each of your 50 employees earns a yearly salary of $40,000.00 a year: 50 times $40,0000 equals $2 million. Let's say that supplies, product, shipping, and materials cost you an additional $750,000. Then, let's say taxes are around $1.5 million per year. Let's say bills and utilities as overhead run you another $500,000.00 per year. $2 million in labor plus $750,000.00 in materials plus $1.5 million in taxes plus $500,000.00 in bills equals $4.75 million. That leaves you, the business owner, with $250,000.00 total.
In the real world, however, that's actually going to be far less when you take into account random repairs you may have to make, or the product loss that occurs in every business, or potential damages you may incur, or any multitude of other things that will cost your business.
So it's likely to be anywhere from $150,000.00 to $200,000.00 that you're left with personally.
Now I don't know about you, but that's not a lot of money to live off of and raise a family with. You're comfortable most likely, but far from being wealthy.
Even with the <a href="https://mobile.nytimes.com/2017/11/17/your-money/tax-cuts-small-business.html">huge tax reform passed by the GOP</a> which decreases the tax rate from small businesses to 25%, this is a far cry from making you "rich".
I just showed you the profits of companies making around $5 million, and it's not very much.
So California's desire to take half of the GOP tax cut from businesses making more than $1 million is going to be destructive to countless business owners.
After the new GOP tax overhaul, it caps state income taxes and local property tax write-offs on the federal income tax return at $10,000.
Because of states like California with Communist policies, this is expected to hurt high-local-tax states, such as California, where the average state and local tax write-off in 2016 was $22,000.
For this bill to pass in California, it's going to require approval from two-thirds of the California legislature.
It's likely to occur, although the Democrats did indeed lose their supermajority recently. It's because of these types of oppressive Communist policies that so many of California's northern residents want to secede from the state and become the 51st state.
The New California movement continues to grow roots. It would be devastating to California Democrats and the Democratic National Committee in general if this occurred.
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All the reason that sensible Nationalists should support it. As Trump supporters, it's wise to get behind the secession of California. Free our people from the chains of Communism.
It's hilarious, because after Trump's victory many in southern California threatened a secession entirely.
Many Americans have already left California due to the stripping of their pensions and the betrayal of the Governor Jerry Brown.
The fact of the matter is, California cannot survive without America.
Businesses are leaving California en masse due to the already extremely high taxation rates. Now California wants to raise them again? <i>Ya'll have fun with that, California.</i>
In 2018, 435 Congressional seats are up for grabs. The GOP and Trump supporters have to get it together and unite to take as many of these seats as possible.
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