Communist California is proposing a constitutional amendment to their state constitution, adding Single Payer for health-eye-hearing-dental-long-term care. There will be no private practices, the government will run everything 100%, and no one will be allowed to have private insurance.
A new analysis from the Tax Foundation, a non-partisan group that generally advocates for lower taxes, found that the proposed constitutional amendment would increase taxes by roughly $12,250 per household – to start. As people realize it’s all “free,” there are those who will take advantage.
In all, the tax increases are designed to raise an additional $163 billion per year, which is more than California raised in total tax revenue any year before the pandemic.
It’s clearly theft.
The taxes will include – Higher income taxes on wealthy Americans, a payroll tax on certain employees’ wages for large companies, and a new gross receipts tax.
Under the bill, the top marginal rate on wage income would soar to 18.05% – well above the median top marginal rate of 5.3% and the state’s existing rate of 12.3%. There would be an 18-bracket system, with higher taxes kicking in for individuals earning more than only $149,509.The highest rate would apply to those who earn more than $2,484,121.
California would also expand the payroll tax paid by employees who earn more than $49,990 in annual income if they work for a company that has more than 50 workers. That will likely keep companies at 49 employees.
The state would also adopt a new 2.3% gross receipts tax (GRT) on qualified businesses minus the first $2 million in annual gross receipts, at a rate more than three times that of the country’s current highest GRT.
Well, they had their chance to get rid of him and didn’t do it, so the majority apparently want this.
This is only the beginning.