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.
IS HE SERIOUS? Newsom Slams Trump’s Misuse of ‘Taxpayer Dollars’ While Owing $3.5B to US Taxpayers
California Governor Gavin Newsom blasted the Trump administration Tuesday for misusing “taxpayer dollars” in bypassing Congress for border wall funding; conveniently forgetting he currently owes US taxpayers $3.5 billion for his failed high-speed rail project.
“The President didn’t get his way, so he’s trying to bypass Congress and use your taxpayer dollars for his pointless border wall. It’s reckless. It’s unprecedented. And California will not stand for it,” said Newsom on social media.
The President didn’t get his way, so he’s trying to bypass Congress and use your taxpayer dollars for his pointless border wall. It’s reckless. It’s unprecedented. And California will not stand for it. https://t.co/G3lyjSw0hA
— Gavin Newsom (@GavinNewsom) February 19, 2019
President Trump demanded Newsom return the $3.5 billion in federal funds after the progressive leader abandoned his state’s high-speed rail project; saying the proposal had become too expensive.
NEWSOM’S NIGHTMARE: White House to ‘TAKE BACK’ $2.5 BILLION from California After Failed Rail Project
The Trump administration announced this week their plans to cancel a $1 billion grant to California and “take back” $2.5 billion after Governor Gavin Newsom officially abandoned a state-wide high-speed rail project.
“The Trump administration’s decision to cancel a $929-million grant to California’s troubled high-speed rail project and claw back $2.5 billion in funds already spent has thrust the federal government into uncharted legal territory and poses an existential threat to the state’s largest investment ever,” writes the Los Angeles Times.
“I have never seen anything this large,” said one San Francisco consultant. “I have never seen anything where they said we are going to cancel a grant because of issues in the administrative or bureaucratic process.”
The project -which used $3.5 billion of federal money- was abandoned by Newsom just day ago; sparking fierce criticism from the Trump administration and taxpayers nationwide.
Read the full report here.