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CA Sen DeSaulnier intent on driving businesses out of California

Original post made by jimf01, another community, on Apr 24, 2014

A new level of stupid has been reached in the CA legislature. And that is tough to do. CA Sen Mark DeSaulnier is campaigning to represent the local area in the US Congress.
But he wants to leave his mark on California with a new proposal to tie the income tax rate of a corporation in this state to the ratio of pay of a company’s CEO compared to its median worker. Web Link
Corporate taxes would increase on companies that pay CEOs 100-400 times more than workers.
Currently California taxes corporate income at a top rate of 8.84 percent, the 10th highest rate in the country. If enacted, this proposal would raise the top corporate rate to 13 percent, which would be the highest in the country.
If it isn't enough that California has the highest rates in the US for state individual income taxes, sales taxes, and gasoline taxes, Sen Desaulnier wants to add corporate taxes to that list. And simultaneously drive businesses out of the state.

Comments (11)

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Posted by Right
a resident of Another Pleasanton neighborhood
on Apr 24, 2014 at 9:06 pm

He's just parroting the same mindless socialist drivel the amateur in chief espouses. He wants 'income equality' regardless of background, value to the company, or experience. Gone are the days when highly talented people could achieve a high level of success. The envy of less motivated individuals seems to win out these days, as ignorant liberals control the media message that claims that all highly comped employees must be brought down to the level of the least capable employees. Pathetic, what has become of our country. Do these dems have no pride?

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Posted by jimf01
a resident of another community
on Apr 25, 2014 at 9:44 am

jimf01 is a registered user.

As if the Sacramento corruptocrats really needed to generate more revenue. Outside of the fact they WASTE much of the money we already send to them, the state legislative analyst predicts that cap-and-trade will raise between $12 billion and $45 billion in toto by 2020.
The one-two punch of the state's low-carbon fuel standard plus next year when the cap (as in cap-and-trade) is applied to fuel suppliers.
And who is going to pay all this money to the state? Rich people? Not so much. You and me. The Boston Consulting Group in 2012 figured that the "one-two punch" will slap an extra $0.49 to $1.83 per gallon onto the price of gas by 2020.

If you like $4 a gallon for gas, you will LOVE $5.00 a gallon

Web Link

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Posted by lll
a resident of Birdland
on Apr 25, 2014 at 11:53 am

I propose that we heavily tax retired public employees who have a pension that pays over $75,000 and public employees that retire with full benefits before the Social Security Retirement age. The tax received from this can go towards schools/teachers.

How about a higher tax for elected officials who make more than the median income of the district they serve?

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Posted by Ditto
a resident of Another Pleasanton neighborhood
on Apr 26, 2014 at 10:01 am

I agree with lll.
Everything is upside down in Ca. Sacramento thinks something is owed to electeds, unions, and certain arbitrary groups. People go to work every day, hoping to help their own families...but not with these clowns in Sacto who devise these upside down schemes to steal from those producers to transfer to electeds, unions, and the 'selected arbitrary groups'. Seems sort of hopeless.

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Posted by Ditto
a resident of Another Pleasanton neighborhood
on Apr 26, 2014 at 10:14 am

Sadly, this is the result of a one-party government like we have in Sacramento. Democrats 'super' majority gives them a 'veto-proof' lock on all actions in California.
Meaning no matter how horrid, nothing can be done to override anything they do. Ca senate, legislature, and governor all of same party. Stupid, politically ignorant voters have done that to us. Grill your neighbor for voting to break middle-income workers and company job creators. They just don't get obvious results of selecting and giving to 'special political groups' instead of allowing middle-class to keep their earnings.

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Posted by jimf01
a resident of another community
on Apr 28, 2014 at 10:08 am

jimf01 is a registered user.

Ditto - They would have a veto proof super majority in both houses of the CA legislature, they still hold it in the Assembly. In the Senate, three of the current Democrats have either been convicted, are currently under indictment or under arrest for corruption directly related to their public office.

This group simply cannot restrain themselves. Power tends to corrupt, and absolute power corrupts absolutely.

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Posted by Don Sterling
a resident of California Reflections
on Apr 28, 2014 at 10:58 am

What's wrong with paying a CEO 400 times that of a lowly worker who otherwise would be on welfare?

And why should a company be taxed at 13% when it has that kind of money to throw away at a CEO?

Why do the socialists want to take money from corporations and spend on questionable sorts of people who, frankly, shouldn't even be allowed access to most sporting and entertainment events?

I'm seriously thinking about leaving this tyrannical state. We shouldn't be "reforming" America, we should be "restoring" it to the way it was before Civil Rights Acts and other desperate attempts at government overreach.

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Posted by woggut
a resident of Pleasanton Valley
on Apr 28, 2014 at 6:52 pm

A good companion bill would be limit public employees salaries to no more than the average for the community (including post employment benefits). Let's see how that flies. BTW, a $75K annual pension would require a $2 million investment, probably more given the pension COLA.

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Posted by Theo
a resident of Another Pleasanton neighborhood
on Apr 29, 2014 at 8:36 am

This has already passed a committee vote. Democrats for, Republicans against.

LA Times did the math, even they think it is a stupid idea. Granted, the pay doled out to chief executives is galling. But trying to make companies cut their top executive's pay is a silly way to address income inequality. If Oracle Corp. took back every dollar of salary and benefits it paid to CEO Larry Ellison, whose $78.4 million in total compensation was among the highest reported by corporate America last year, it would have enough to pay each of its employees the princely sum of $930.
Web Link

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Posted by Joe
a resident of Another Pleasanton neighborhood
on Apr 29, 2014 at 9:07 am

I'm no prince, but I'd gladly like to receive the $930.00.

Posted by Name hidden
a resident of Ridgeview Commons

on Jun 6, 2017 at 10:50 am

Due to repeated violations of our Terms of Use, comments from this poster are automatically removed. Why?

Sorry, but further commenting on this topic has been closed.

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