A new survey published by Fox Business this week shows the negative impact of California’s progressive tax scheme on average residents, with nearly 50% of its citizens saying they feel “stretched economically.”
“California Gov. Gavin Newsom is pushing new taxes despite the state’s $21 billion surplus — and Californians want to know why, according to the CEO of the Public Policy Institute of California, Mark Baldassare,” reports Fox Business.
“In our latest poll we found that almost half of Californians said that they felt they’re paying too much in taxes now and that’s consistent with what we know from looking across the states in terms of California being one of the… states that has the highest taxes,” he told FOX Business’ Stuart VarneyOpens a New Window. on Monday.
The massive tax burden is forcing the state’s Middle Class to flee the region by the thousands.
“Californians are really very stretched economically — many who are in the middle class,” said an industry expert. “Of course there are many who are doing very well in California but many who aren’t doing well– we have the highest poverty rate in the nation as well as tremendous wealth that’s accumulated here in this state.”
To make matters even worse, millions of Californians may soon face a series of new taxes on everyday items in the coming months, with lawmakers weighing a series of proposals that could prompt higher prices on water, car batteries, lawyers, prescription painkillers, tires, and more.
“But in California under Democrats, it’s tax, tax, tax — a drip and a drop, nickel and a dime — all the time. That’s not a political statement. It’s a fact. Not all taxes are evil. Some are justified. But many are unwarranted. And others are eye-rollers,” reports the Los Angeles Times.
“There are a whole bunch of taxing ideas in the Capitol: on new tires, firearms, water, prescription painkillers, lawyers, car batteries, corporations based on their CEO pay, estates worth more than $3.5 million, oil and gas extraction. The list goes on,” adds the author.
The potential taxes come months after the state government voted to tax drinking water as the region continues to struggle with widespread droughts and forest fires.
Read the full report at Fox Business.