Friday, November 18, 2016

California politicians threaten the tax weapon

Bloomberg: State Democrats say there’s plenty they can do short of leaving the U.S. California has long been a net contributor to Washington’s coffers, receiving an estimated 78¢ in federal spending in return for every dollar it sends, according to a study by the Washington-based Tax Foundation, a nonprofit think tank that provides analysis of federal and state tax policies. That gives state leaders potential leverage when it comes to complying with policies it doesn’t like, starting with the deportation of undocumented immigrants.
We will have a replay of the 2011 tax battle between Obama and the Cal Dems in which they split the tax brackets. 

Remember, California will need to pay for its own Obamacare if Texas has its way.  California killed the Obamacare deal when they offered worldwide free medical car,e paid for by Texas.  a non starter.

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