Idiot CA Legislators Demand Corporations Give Fed Tax Savings Back To State [VIDEO]

Idiot CA Legislators Demand Corporations Give Fed Tax Savings Back To State [VIDEO]

Idiot CA Legislators Demand Corporations Give Fed Tax Savings Back To State [VIDEO]

California has a money and reality problem. Remember Oroville Dam? Still not fixed, yet sky high funding for the misguided bullet train continues and state taxes were increased all across the board. So, when the federal government’s tax cuts mean CA businesses will get their money back, what does California propose to do? Seize MOAR money!!

A pair of California lawmakers want to claw back some of steep tax cuts that corporations will receive under the federal tax overhaul signed last month by President Donald Trump.

Democratic Assemblymen Kevin McCarty of Sacramento and Phil Ting of San Francisco announced Thursday that they will pursue a constitutional amendment to add a surcharge on large companies that do business in California, potentially raising billions of dollars to expand social services for Californians.

“We’ve seen enough billionaire justice from the presidency,” McCarty said in an interview. “It’s time for middle class tax justice.”

It’s time for middle class justice?? Are they on crack??!! Quite frankly those two have their heads so far up their ass it’s beyond parody. They completely fail to realize than when a large company doesn’t have to pay as much in taxes, that frees up money to do any or all of the following:

Invest in R&D to further company goals

Reduce corporate debt

Increase salaries

Provide extra bonuses

Hire more employees

McCarty and Ting evidently do NOT realize that doing so puts MORE money into the economy and it boosts the income level of the middle class they are condescendingly attempting to ‘help.’

Another scheme to take MOAR taxpayer $$? SOLD!

Apple, a CALIFORNIA company just gave it’s employees some significant bonuses AND also announced that they are bringing $38 billion back to the U.S. from overseas, and plan to invest another $30 billion in capital expenditures. However, If this insane CA corporate tax crap passes, guess what will happen? Apple may decide to halt all future investments into the CA and U.S. economy. McCarty and Ting should pull their heads out.

Meanwhile Governor Jerry ‘Moonbeam’ Brown insists on funding the $20 billion bullet train disaster.

Given that, do you think that Gov. Moonbeam would recognize that he shouldn’t have said this?

There was a problem with the 35% [federal corporate tax rate]. But to cut it all the way down to 21%, you’re putting a lot of cash in the hands of corporate entities that already have a lot of cash. I mean, I think that some have trillions of dollars, all the American corporations, in aggregate. So you’re giving them money, and we’ll see how much goes to the shareholders and the bonuses.

Well, as we’ve already seen, multiple and I mean multiple companies have been able to realign their books and offer bonuses this year. But NOOO… Moonbeam doesn’t care about that. Instead he blurts out this piece of crap:

But 12 of California’s 14 congressional Republicans voted for the tax plan…

They’re loyal to their party, not necessarily to the people of California. And they all believe that Californians should be punished because we have a very progressive income tax… So now it’s even more burdensome, which I don’t think makes any sense at all.

Burdensome?? Don’t make me laugh. Reducing regulations is a relief for ALL. Furthermore, that kind of tax burden imposed on a major worldwide company? How long do you think before it takes for them to finally decide to move to a more tax friendly state? Not long.

As for the ‘billionaire justice’ slam. WOWZERS. That throws a good third of California under the bus. Which includes politicians such as Arnie, Nancy Pelosi, and Feinstein. It also includes major Silicon Valley companies, wineries, Hollywood moguls, and more.

And the government in CA is also ignoring the fact that their state has the highest poverty rate in the country. People and businesses are leaving California in droves. They want better lives and lower taxes. Which is great because there are many states that offer that.

Memo to Kevin McCarty and Phil Ting: If you want to drive CA off the fiscal cliff and into the pit, just keep digging. This is one time you both should’ve let the Good Idea Fairy pass on by.

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21 Comments
  • Scott says:

    Great post Nina.. just a couple thoughts…
    -Aren’t shareholders American citizens, kinda like all the people with 401k’s, etc?
    -California has such a high poverty rate, in large part because of all the illegals they welcome.
    -Unfortunately, the “droves” that are leaving that shithole of a state are moving to better states, but then demanding the same stupid policies that screwed up california… THOSE asses need to stay put! we don’t want em!

    • Freddie Sykes says:

      I agree that increases in stock prices help underfunded pension plans and fatter 401-k accounts would allow us to start addressing our unsustainable Social Security System.

    • Nina says:

      Thanks Scott!

      Agree

      Very true!

      Or …hello former Californians! You left because of high tax rates. QUIT VOTING YES for tax raises!

    • Micha Elyi says:

      You only call California a “shithole” because you’re (a) envious and (b) your vocabulary does not stretch past being a pottymouth.

      When all the legislators of your own state are pure, let us know. We’ll be happy for you.

      Finally, the Golden State was once a staunchly Republican state. Then your relatives moved here and turned it majority Democrat. Now some are moving back out. Welcome your kith and kin with hugs and kisses!

      • Pragmatic says:

        No one outside of CA is envious, dear. We all think you are batshit crazy. I’m out of patience to use prettier language.

        Also? You have non-citizens voting. You didn’t win the argument; you gerrymandered the international borders. That’s the ONLY reason you give a shit about DACA. Please – do us all a favor – f*cking secede. We hate your guts and really, REALLY want you gone.

        • Blackgriffin says:

          I am SO hoping they secede. Good riddance to them and NO assistance from the U. S. once they’ve pulled that trigger. Let them survive on their own, since they’re so convinced that they’re superior.

          • Penrod says:

            Imagine how the DNC would react to serious move toward California secession. Maybe not the way you’d expect….

            I expect the DNC would send out organic polysexual ninja hit squads to liquidate every CA Democrat politician who tries. Without CA electors and US Reps as part of the US, Republicans would be in power for a hundred years.

            Existential carnage ensues as the DNC struggles with its very identity, aghast at having to preserve the Union. Uphold the rule of President The Donald or forever lose the chance of ruling Amerikkka again. Can the Dems forge a more perfect union of George Soros and the Kochtapus? Will the NRA be successful with its Lend-Lease program to smuggle assault rifles and tanks to the beleaguered California Republikkkans in trainloads of organic soy-based fuel? Will PETA loose the dogs of war, after socially responsible neutering, of course? Will the legislature abandon the Grizzly Bear flag, and hoist high the banner of the Groovy Unicorn? Or will there be a terrible battle waged by those who demand the state flag carry the image of the Sacred Compost Heap? Will the Cannabis Bliss Party rise from the ashes and rule from their tipis? Only the future, dark though it may be, will tell.

      • SDN says:

        Micha_Elyi is unable to deny the accuracy of the article so he shows up to virtue signal.

      • SDN says:

        “Relatives”? My relative founded the Chemistry Department at Stanford. And not one of them was an illegal immigrant. Or a hippie.

      • GWB says:

        No, not envious at all.

        As to state legislators, let us know when more than 30% of the CA legislators are not bat-guano crazy or socialist. But I repeat myself.

        Yes, CA was once Republican. But then the socialists and crazy people took over. But, again, I repeat myself. And then they began importing aliens.

        CA has no one to blame but Californians.

    • Mark L says:

      Typical lefty warped thought process. They all become banana republic dictators given the opportunity. Since they can’t sell their bankrupt economic theory to reasonable people, they resort to force and threats. And given the opportunity, they would relieve many of their hard earned property and money for their own nefarious purposes. Left CA 10 years ago never to return. Good luck to you friend’s left behind.

  • The Original Budman says:

    California legislators are well-prepared for a lucrative career in racketeering once they leave office.

    • SDN says:

      They don’t wait that long.

      “Yee was arrested by the Federal Bureau of Investigation (FBI) on March 26, 2014 on charges related to public corruption and gun trafficking — specifically buying automatic firearms and shoulder-launched missiles from the Moro Islamic Liberation Front (MILF), an Islamist extremist group located in the southern Philippines and attempting to re-sell those weapons to an undercover FBI agent, as well as accepting a $10,000 bribe from an undercover agent in exchange for placing a call to the California Department of Public Health regarding a contract at the organization.[2]

      In response to the gun running and other criminal charges against him, the California State Senate suspended Yee as a Senator on March 28, 2014.[3] On July 1, 2015, Yee pleaded guilty to a felony racketeering count in relation to money laundering, public corruption and bribery in a San Francisco Chinatown organized crime case.[4] On February 24, 2016, Yee was sentenced to five years in federal prison.[5] As of March 25, 2016, Yee is incarcerated at FCI Ft Worth.[6]”

    • GWB says:

      Heck, that’s how most of them get into office.

  • GWB says:

    bringing $38 billion back to the U.S. from overseas
    Oops, Nina. The $38 billion is just the TAXES on the $250 billion they’re bringing back. And they up the total they’re “reinvesting” to $300+ through accounting.

    we’ll see how much goes to the shareholders and the bonuses
    So businesses just hoard their money like Scrooge McDuck? Well, some do – specifically those paragons of progressive virtue… the universities.

    Democrats believe all the money you earn belongs to the government
    Yes. And there is only a finite amount of it to be spread amongst the people. Economic ignorance is bliss Venezuela.

  • Appalled By The World says:

    Destroying the Bolshevik party is essential if this nation at large is to survive this kind of criminal stupidity.

  • J. S. Bridges says:

    Hmmm-m-m…

    All sorta sounds like a real good way to go about filling-up a lotta that “empty-infrastructure space” over in Nevada and up into Oregon to me…

  • Rockdalian says:

    The money quote is “that do business in California”. This means any large company selling a product would be taxed, no just in state businesses. I believe the companies would just raise their prices in state accordingly.

    • GWB says:

      All they have to do to avoid this is to sell to a retailer who then distributes their product as they see fit – to include California.
      “What? Us? Do business in California? Nooooo. The fact you see our products in that state has nothing to do with where we do business. You’ll have to go fish in another pond.”

  • JeffH says:

    “…potentially raising billions of dollars to expand social services for Californians.”

    If, by “raising billions of dollars”, they mean “chase billions of dollars out of the state”, then, yes. Yes, they can potentially “raise billions of dollars”.

  • […] California has a money and reality problem. Remember Oroville Dam? Still not fixed, yet sky high funding for the misguided bullet train continues and state taxes were increased all across the board. So, when the federal government’s tax cuts mean CA businesses will get their money back, what does California propose to do? Seize MOAR money!! […]

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