Groundhog Days of California Taxes

The “Hundred Years War” was a series of conflicts for control over Western Europe and England during the middle ages, circa 1337 to 1453. The relentless hostilities against California taxpayers by progressive politicians may not have a 100-year history, but it sure feels like it.

Just last week, far-left legislators and their ideological allies proposed another increase in the income tax on high earners. Assembly Bill 1253 would impose tiered tax increases on residents with annual incomes over $1 million. If approved, the income tax rate for Californians making over $1 million would increase from 13.3% to 14.3%. Those who earn more would be hit with even higher increases. (Never mind that California already has the highest income tax rate in America and Californians are leaving the state in droves.)

There are two reasons why all this may sound familiar. First, it is identical to a proposal from the same progressive legislator — Miguel Santiago, D-Los Angeles — that was introduced last year. Fortunately, that bill died due to lack of support, not only from Republicans, but from both moderate Democrats and Gov. Gavin Newsom. Nonetheless, Santiago and his far-left organizations such as Courage California are trying again with, coincidentally he claims, the same bill with the same number: AB 1253.

The second reason this may seem like déjà vu is that just last week this column reported on a novel $22 billion “wealth tax” proposal that would tax as much as 1.5% of a person’s “household wealth” above a certain threshold. ACA 8 would be the first tax of its kind in America. The “justification” for the tax is less for the generation of needed revenue (California is already swimming in tax revenue) but to “equalize” wealth in a way that would do Lenin proud.

To read the entire column, please click here.

Comments

  1. Really??? says

    If you have any memory of the peanut farmer President he went after the rich.

    The eventual outcome was these people who had wealth taken eventually stopped buying the high end items that kept people of specialized occupations employed. All too often they were trades and skills that once lost never returned.

    The Dem. idiots are dangerous because they are killing niche jobs and skills. But then again that makes them very dependent on government Welfare. (get it – buying votes)

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