California is probably the least business friendly states in the union. Now, they want to jack up taxes on small businesses to “offset” the gains made by the Trump tax cuts. This is yet another perfect examples of why people are fleeing California in droves. Only problem is they are polluting other, otherwise good states with their filthy California liberalism. The tax hike that the California Marxistcrats want would affect about half of all businesses in the sanctuary state.
| California state Democrats want tax hike on small business to offset Trump tax cuts |
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A pair of Democratic California assemblymen want to raise the state’s business taxes in response to Republican President Donald Trump’s federal tax cut, the Los Angeles Times reported.
Who’s behind the proposal?
Assemblymen Phil Ting of San Francisco and Kevin McCarty of Sacramento introduced a measure Thursday that would raise corporate taxes on companies with revenues over $1 million — and would amount to half of what the companies get through the federal tax cut, the paper said.