Economy

CALIFORNIA SCHEMIN': California to STEAL HALF of GOP Tax Cut Savings

posted by Hannity Staff - 1.22.18

The left-coast state of California is up-in-arms over the recently passed GOP tax cuts, blasting the legislation as a “middle-class tax increase” and announcing future plans to force corporations to hand-over half of their savings to local governments.

According to Fox News, two Democrat assemblymen introduced ‘Constitutional Amendment 22,’ which demands a ten percent tax on all companies and corporations with earnings over $1 million. The desperate legislation is a last-minute measure to help finance California’s failing welfare and social service programs.

“It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals,” the Assemblyman said in a statement, according to The San Francisco Chronicle. “This bill will help blunt the impact of the federal tax plan on everyday Californians by protecting funding for education, affordable health care and other core priorities.”

Late last year, President Trump signed into law the largest overhaul of the nation’s outdated and over-complicated tax structure in generations, slashing taxes on corporations and individuals.

The bill added rocket-fuel to an already booming economy, prompting large companies such as Apple, Boeing, American Airlines, Visa, and others to reinvest billions and raise wages.

Leading Democrats -particularly House Minority Leader Nancy Pelosi- have slammed the legislation, calling the benefits to hard-working American workers “pathetic crumbs” from giant corporations.