Search Results for: wealth tax
Business & Economics
Learn how PRI is fighting for taxpayers
PRI Files Amicus Brief Challenging Congress’ Power to Levy Wealth Taxes
Click here to read PRI’s amicus brief The case involves the legality of a provision of the 2017 Tax Cuts and Jobs Act that included a so-called mandatory repatriation tax that imposed taxes on U.S. citizens who accumulated foreign earnings from foreign corporations, even if the earnings were not distributed. ...
Blog
They’re Baaack! Sacramento Liberals Once Again Propose a ‘Wealth Tax’
Last week, San Jose Democratic Assemblymember Alex Lee once again proposed a “tax on extreme wealth in California.” Under Assembly Bill 293, “extreme wealth” is defined as “households with net worths of more than $50 million.” If enacted, a 1 percent tax would be applied to wealth over $50 million, ...
Business & Economics
Wealth Taxes are Economic Failures
By Wayne Winegarden and Kerry Jackson California Assemblymember Alex Lee should have studied Europe’s experiences before introducing his wealth tax proposal. Had he done so, he never would have introduced Assembly Bill 2289 that, if adopted, would impose 1% annual tax rate on couples with net worths exceeding $50 million and ...
Blog
The Warren Wealth Tax
California progressives’ plan to impose a wealth tax on state residents died in committee last year. Right by the Bay’s Kerry Jackson and Tim Anaya wrote about why it would hurt everyday Californians far more than its rich and famous. Unfortunately, the idea didn’t end at the California state line. ...
Blog
Studies Show Wealth Tax Would Hurt California’s Economy
There are no state taxes on wealth in the U.S., but California is a good bet to be the first. The idea carries some political popularity, and its promises sound sweet, but what would be the reality if the legislation, Assembly Bill 2088, becomes law? A couple of Rice University ...
Blog
Estate Tax Bill Will Do Nothing to Reduce California’s Wealth Gap
You would think that California’s current $21.4 billion budget surplus would be plenty of money to fund the spending wish list of those thwarted over the past 8 years by former Gov. Jerry Brown’s adherence to the principle of subsidiarity. Think again. In fact, much of the talk in Sacramento ...
Blog
Read about new local tax & bond measures
Local voters face 77 tax increases on California’s March ballot
According to its calculation, if all pass the combined hit would be $350 million in direct tax increases and $3.6 billion in bonded indebtedness. The group notes the new debt includes “36 school bonds, 16 transactions and use taxes, 19 parcel taxes, two general obligation bonds, one business license tax, ...
Business & Economics
Read about latest tax hike push at State Capitol
California’s Already High Taxes Could Increase if Democratic Legislators Prevail
California has been losing businesses and residents to states with lower tax burdens for years, and the response in Sacramento has been puzzling. Rather than trying to compete with those states, the counter has been to instead raise taxes even higher. Following this formula, legislators recently passed Assembly Constitutional Amendment ...
Blog
Elon Musk is Right – California is Now the Land of Taxes, Overregulation and Litigation
A trio of troubles, says Elon Musk, is ruining California. He didn’t reveal anything new. He didn’t have to. Much of the world understands. Only those blinded by their blue-tinted glasses don’t know what’s wrong in this state. Speaking virtually earlier this month for a conference in Miami, Musk, an ...
Blog
China Cuts Taxes, U.S. and California Want to Raise Them
Tax cuts are the “fertilizer applied to the roots of the economy.” That’s not Arthur Laffer talking, but China Premier Li Keqiang. Last month, China’s Finance Ministry announced that it would cut income taxes for small companies from 25 percent to 20 percent to boost the communist country’s slowing economy. ...
Learn how PRI is fighting for taxpayers
PRI Files Amicus Brief Challenging Congress’ Power to Levy Wealth Taxes
Click here to read PRI’s amicus brief The case involves the legality of a provision of the 2017 Tax Cuts and Jobs Act that included a so-called mandatory repatriation tax that imposed taxes on U.S. citizens who accumulated foreign earnings from foreign corporations, even if the earnings were not distributed. ...
They’re Baaack! Sacramento Liberals Once Again Propose a ‘Wealth Tax’
Last week, San Jose Democratic Assemblymember Alex Lee once again proposed a “tax on extreme wealth in California.” Under Assembly Bill 293, “extreme wealth” is defined as “households with net worths of more than $50 million.” If enacted, a 1 percent tax would be applied to wealth over $50 million, ...
Wealth Taxes are Economic Failures
By Wayne Winegarden and Kerry Jackson California Assemblymember Alex Lee should have studied Europe’s experiences before introducing his wealth tax proposal. Had he done so, he never would have introduced Assembly Bill 2289 that, if adopted, would impose 1% annual tax rate on couples with net worths exceeding $50 million and ...
The Warren Wealth Tax
California progressives’ plan to impose a wealth tax on state residents died in committee last year. Right by the Bay’s Kerry Jackson and Tim Anaya wrote about why it would hurt everyday Californians far more than its rich and famous. Unfortunately, the idea didn’t end at the California state line. ...
Studies Show Wealth Tax Would Hurt California’s Economy
There are no state taxes on wealth in the U.S., but California is a good bet to be the first. The idea carries some political popularity, and its promises sound sweet, but what would be the reality if the legislation, Assembly Bill 2088, becomes law? A couple of Rice University ...
Estate Tax Bill Will Do Nothing to Reduce California’s Wealth Gap
You would think that California’s current $21.4 billion budget surplus would be plenty of money to fund the spending wish list of those thwarted over the past 8 years by former Gov. Jerry Brown’s adherence to the principle of subsidiarity. Think again. In fact, much of the talk in Sacramento ...
Read about new local tax & bond measures
Local voters face 77 tax increases on California’s March ballot
According to its calculation, if all pass the combined hit would be $350 million in direct tax increases and $3.6 billion in bonded indebtedness. The group notes the new debt includes “36 school bonds, 16 transactions and use taxes, 19 parcel taxes, two general obligation bonds, one business license tax, ...
Read about latest tax hike push at State Capitol
California’s Already High Taxes Could Increase if Democratic Legislators Prevail
California has been losing businesses and residents to states with lower tax burdens for years, and the response in Sacramento has been puzzling. Rather than trying to compete with those states, the counter has been to instead raise taxes even higher. Following this formula, legislators recently passed Assembly Constitutional Amendment ...
Elon Musk is Right – California is Now the Land of Taxes, Overregulation and Litigation
A trio of troubles, says Elon Musk, is ruining California. He didn’t reveal anything new. He didn’t have to. Much of the world understands. Only those blinded by their blue-tinted glasses don’t know what’s wrong in this state. Speaking virtually earlier this month for a conference in Miami, Musk, an ...
China Cuts Taxes, U.S. and California Want to Raise Them
Tax cuts are the “fertilizer applied to the roots of the economy.” That’s not Arthur Laffer talking, but China Premier Li Keqiang. Last month, China’s Finance Ministry announced that it would cut income taxes for small companies from 25 percent to 20 percent to boost the communist country’s slowing economy. ...
