CA to Nearly Double Taxes to Pay for ‘Free’ Single Payer

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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.


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GuvGeek
GuvGeek
4 months ago

This will likely be the last nail in California’s Coffin. California is already bankrupt due to long term entitlement obligations. The few Conservatives who make places like California and New York work are leaving in record numbers. Even Wall Street has toyed with the idea of moving to Texas, but I don’t think Texas wants them.

Anonymous
Anonymous
4 months ago

Democrats have this brain dead theory that you can tax yourself to prosperity. Time and time again it has failed, and the mass exodus of working class people from that state is the cannon ball shot across their Bow that will sink them by taxing them more,

elphupphy
elphupphy
4 months ago

All I can say is Enjoy, Cali8fornia!!!!

Steven
Steven
4 months ago

California leads the rest of the country, probably by one election cycle, so after California, this will spread to the rest of the country like wildfire, first Vermont, Maine, then Washington and Oregon, then NewYork, although Massachusetts has had Romney Care since Romney was Governor of Massachusetts.
I do expect it soon in New York and Illinois, although Chicago might do it as a citywide plan. Did I forget New Mexico and Colorado, along with New Jersey and Philadelphia/Maryland/DC and Northern Virginia.
Money is no object, although California currently has an enormous budget surplus.
I think California has a plan that you can’t escape, that you have to pay their tax even if you move out of state.

The 950 Dollar Off Sale
The 950 Dollar Off Sale
4 months ago

Union Pacific will end up not servicing Los Angeles and the 100% off sale at CVS and Walgreens is now over!
Last one out please turn off the lights and heads up for the horde of locusts advancing east to make the rest of the former USA California.
Taking care of Mexico and the free horn of plenty for all isn’t cheap.