Friday, June 02, 2017

Yeah, about that Golden State Single Payer Plan



"In addition to a 15% payroll tax, Sacramento is looking at a 2.3% business tax on gross sales receipts."

Look at that last bit carefully: the new tax is on revenue, not profit.

I'm sure this will pose no problem for California-based businesses.

Totally unrelated: is that Greg Abbott I hear?

But wait, it gets even better (for certain values of "better"):

"The state will also impose a new 2.3% sales tax on top of a statewide average sales tax of 8.44%"

By the way, this is a regressive type of tax, meaning that it will disproportionally affect (ie hurt) the poor.

[Hat Tip: Insty]
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