Kudos to the Sacramento Bee editorial board for its royal beat-down on the illegitimate brainchild of Assemblymen Kevin McCarty and Phil Ting (“Assembly Democrats offer a dumb tax bill. Republicans love it”).
The lawmakers are proposing Assembly Constitutional Amendment 22, in an effort to ask voters to impose on corporations doing business in California a “surcharge” of 10 percent on net earnings of more than $1 million.
These are probably the same jokers who actually think Amazon has any serious interest in locating its HQ2 in California. Furthermore, ACA 22 completely contradicts other measures being considered to find ways to offset the disproportional tax hit on such blue states as California.
ACA 22 is a great example of why the Capitol needs a strong bloc of moderate Democrats who don’t possess an audacious entitlement mentality when it comes to stealing money from the private sector.
Again, nice job to the Bee for blowing this horrifically irresponsible measure out of the water before it has even had a chance to float.