California considering insane plan to double its (already high) taxes

California already has some of the highest taxes in the United States and is losing residents as a result. Yet Golden State liberals aren’t deterred. They’re now pursuing a state constitutional amendment that could double California’s taxes.

The proposed amendment, ACA 11, would hike several key taxes to fund a state-level government healthcare scheme. According to the right-leaning Tax Foundation , it would increase the average household’s taxes by an astonishing $12,250.

It’s estimated that the amendment would increase state revenue by $163 billion a year, which is more revenue than California had ever seen in an entire year before 2020. (That means it’s effectively doubling the state’s taxes.)

As the Tax Foundation’s Jared Walczak explains , the tax hikes take three forms. There’s an income surcharge (on top of the already-high state income taxes) that applies starting at $149,509 in earnings. There’s also a payroll tax add-on, with the top rate applying to employees earning $49,990 or more. Then, there’s a 2.3% business tax hike on gross receipts above the first $2 million a business takes in.

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter.

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