Breaking News For Dems: High Taxes Chase Away Rich People Too

Hot Air | 7/9/2018 | Staff
aka1aka1 (Posted by) Level 4
Click For Photo: https://hotair.com/wp/wp-content/uploads/2018/07/TrafficJamLAAerial715.png

Let’s start from the premise that California has way too many people anyway — 39.8 million at last count.

SEE ALSO: Simple question for Trump: Are you willing to risk losing a Supreme Court confirmation battle?

New - York - State - Residents - Percent

That’s twice New York state’s residents or 12 percent of the entire country’s population in two percent of the states.

There are good reasons for that — climate, geography, lifestyle, earthquakes. Plus the continent ends there.

TRENDING:

Simple question for Trump: Are you willing to risk losing a Supreme Court confirmation battle?

Government - Taxes - California - Attributes

But government and taxes are not among California’s attributes.

Because Californians vote by rote, Democrats rule the state politically. And because Democrats rule the state politically, the answer to immense budget deficits is not to cut spending. It’s to raise taxes.

Suggestion - Gov - Jerry - Brown - Kinds

And so back in 2012 at the urgent suggestion of Gov. Jerry Brown, who painted all kinds of dire consequences if his favorite measure failed, California’s rote voters approved Proposition 30.

It was the best kind of huge tax increase because it was on somebody else, those somebody elses who make a lot of money. California’s top three percent of earners were to shell out a major part of the $9 billion in private money that Brown gleefully estimated would sink into his state coffers.

Things - Prop - California - Income - Tax

Here’s some things Prop. 30 pulled off: It raised California’s top income tax rate by almost 30 percent, up three percentage points to 13.3%. It also boosted taxes on income from $300,000 to $500,000 by two percentage points, and jacked the rate on income between $500,000 and $1,000,000 by three percentage points. That was a 32% jump.

What could go wrong, right? Hey, voters approved it. They were told the taxes would go up only...
(Excerpt) Read more at: Hot Air
Wake Up To Breaking News!
Communist, Socialist, Democrat, Republican, at this point, what difference does it make.
Tagged:
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!