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2022-01-12 Home Front: Politix
Gov HairGel to Propose Doubling California State Taxes
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Posted by Lord Garth 2022-01-12 00:00|| || Front Page|| [11133 views ]  Top

#1 Top marginal tax rate on individual income is now north of 12%. Total state and federal now at parity with Sweden.

No wonder that UHauls leaving the state are several times more expensive than UHauls for coming to Cali
Posted by Merrick Ferret 2022-01-12 01:20||   2022-01-12 01:20|| Front Page Top

#2 Its the pyramid tax scheme, only in the upside down direction.
Posted by Blackbeard Barnsmell6454 2022-01-12 02:22||   2022-01-12 02:22|| Front Page Top

#3 pay about 3% of their revenue to the State.

That's gross receipts. Have these commissars even looked at the profit margins of many businesses? Grocery store ~= tech firm w/ 70% gross margin.
Posted by Huparong Cloluper8853 2022-01-12 02:28||   2022-01-12 02:28|| Front Page Top

#4 The rest of the businesses in California will then flee.

Good luck with that broken state.
Posted by DarthVader 2022-01-12 08:25||   2022-01-12 08:25|| Front Page Top

#5 If you can deduct your state taxes from your federal tax bill, it is not really "doubling".
Posted by SteveS 2022-01-12 09:12||   2022-01-12 09:12|| Front Page Top

#6 My guess is this is a backdoor way to pay off the state pension system before the state economy collapses.

Unfortunately the taxes will cause the state economy to collapse as the makers leave and the takers are drawn in.

Glad I'll be in Texas before this becomes reality.
Posted by ruprecht 2022-01-12 10:22||   2022-01-12 10:22|| Front Page Top

#7 CA, NY, IL pensions are so far underwater that a "five-year plan" of total confiscation could not make them solvent.
Posted by M. Murcek 2022-01-12 10:27||   2022-01-12 10:27|| Front Page Top

#8 Maybe that border wall needs to take a right turn at Albuquerque.
Posted by swksvolFF 2022-01-12 13:39||   2022-01-12 13:39|| Front Page Top

#9 Re #5: The SALT limitation on Federal income tax deductions means you can only deduct a certain amount - somewhere around $10,000 I believe.
Raj could provide a better answer.
Posted by Rambler in Virginia 2022-01-12 13:45||   2022-01-12 13:45|| Front Page Top

#10 yep. The BBB bill was going to raise that (Rich Dems in blue states benefit)
Posted by Frank G 2022-01-12 14:51||   2022-01-12 14:51|| Front Page Top

#11 SALT limit was $5k for single, $10k married filing jointly

Posted by Lord Garth 2022-01-12 15:30||   2022-01-12 15:30|| Front Page Top

#12 The fine people of California and New York continue to get what they voted for. I'm cool with that.
Posted by Crusader 2022-01-12 15:49||   2022-01-12 15:49|| Front Page Top

#13 Funny they announce this and within 12 hours Zuckerberg announces his move to Texas.
Posted by ruprecht 2022-01-12 18:59||   2022-01-12 18:59|| Front Page Top

#14 Texas should ban him
Posted by Frank G 2022-01-12 19:07||   2022-01-12 19:07|| Front Page Top

#15 Piker. Inside knowledge Pelosi bought a place in Florida weeks ago.
Posted by swksvolFF 2022-01-12 19:57||   2022-01-12 19:57|| Front Page Top

23:58 Phavimble Phauci2922
23:36 Chris
23:33 Chris
23:28 swksvolFF
23:22 swksvolFF
23:16 swksvolFF
22:29 Merrick Ferret
22:22 Merrick Ferret
20:57 CrazyFool
20:53 Shogum Cholumble9818
20:37 Rex Mundi
20:33 Rex Mundi
19:57 swksvolFF
19:45 Zhang Fei
19:31 magpie
19:14 Deacon Blues
19:07 Frank G
19:05 Mercutio
18:59 ruprecht
18:48 swksvolFF
18:30 Rob Crawford
18:23 JohnQC
18:11 M. Murcek
17:51 swksvolFF









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