California Democrats Want Companies to Give State Half Their Tax Cut Savings

California’s appetite for tax dollars is insatiable, leaving companies and individuals alike in the state to bear the burden of the highest state taxes in the country. Now, lawmakers in California want even more.

Following the passage of tax reform, two California lawmakers have crafted a bill that will require companies in California making over $1 million a year to turn over half of the money they save from the new tax cuts. Keep in mind that the new tax code does not at all affect how much money California takes in state taxes – the California state taxes are just as high as they’ve always been. Nevertheless, Californian lawmakers have seen the opportunity to squeeze even more out of companies in the Golden State, and they are pouncing on it.

Perhaps they see this as the chance to fight back against Trump and effectively nullify half of the savings he is delivering to California companies. Or perhaps it’s simply another chance to push the state ever closer to a socialist dystopia. Either way, if driving companies and individuals alike out of the state is the goal of California lawmakers then they are succeeding at the highest level.

To learn more about this ridiculous bill and what it might mean for companies in California, be sure to check out the video below.


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