California service tax proposal would be a tax increase

Service Tax Proposal is a Veiled Tax Increase May 29, 2019 By Loren Kaye 1 Comment California’s elected leaders are enjoying the fruits of a go-go economy, with record surpluses and record spending on education.

California: Sacramento’s Tax Increase Proposal August 6, 2018 MJA Uncategorized 10 CPR: The Sacramento City Council vote to place a tax increase on the November ballot is representative of what we’ll see around the state in many localities: a call for more taxes to maintain basic services when in reality the money is needed to meet pension.

SACRAMENTO – Sen. Bob Hertzberg, D-Van Nuys, announced legislation today to reduce middle class income taxes by expanding California’s modest service taxes to target other high-end services. Taken together, the tax modernization in Hertzberg’s bill will help to counteract the damage done by the Trump tax in Washington.

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10+% taxes now start at $250K. CA now has by far the nation’s highest state income tax rate. We are 34% higher than 2nd place Oregon, and a heck of a lot higher than all the rest – including 7 states with zero state income tax – and two states (NH and TN) that tax only dividends and interest income (not capital gains).

President Trump’s tax proposal for individuals would give California taxpayers some tax breaks but take away others. Without more details, it’s impossible to say what the net effect would be.

The top rate would be the same as it is now, except the income level at which it would apply would increase. tax after six years, in the meantime doubling the amount of inherited wealth that is.

The proposed California law would impose the SAME tax rates if the federal estate tax is repealed. But even the dumbest state legislator (a spirited contest for that appellation, to be sure) will eventually figure out that many – likely MOST – of the wealthy will then establish their state tax residence elsewhere prior to death.

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Citing a public health crisis, California lawmakers on Wednesday proposed discouraging drinking sugary beverages through measures including a soda tax and warning labels. restaurants and places.

California service tax proposal would be a tax increase, worsen the state’s affordability crisis and would not stabilize budget volatility. The new limit resulted in an effective tax increase for. House Republicans proposed to scrap the deduction entirely. That caused an outcry from several Republican lawmakers who represent high-tax.