Tax Foundation Archives - California Globe

California, 4th Largest Economy in the World, Ranks Among 10 Worst in US for High Taxes

October 25, 2022 10:58 amOctober 25, 2022 10:59 am

Chief Executive Magazine reports year after year that when CEOs across the country are surveyed, they name California as the worst state in the country in which to have to do business. Because of California’s highest-in-the-nation overall taxes, one of...

‘Let’s Make a Deal:’ Newsom Admin. Inks Backroom Deal With Kaiser for Statewide Medi-Cal Health

February 5, 2022 10:01 amFebruary 7, 2022 12:00 pm

Only days after California’s proposed Single Payer state-controlled health care bill failed to even get to a vote on the Assembly floor last week, a medical industry news website announced “California inks sweetheart deal with Kaiser Permanente, jeopardizing Medicaid reforms.”...

State-Controlled Health Care Bill Fails in California Assembly

January 31, 2022 4:59 pmJanuary 31, 2022 7:20 pm

Monday’s legislative deadline for passage of California’s proposed Single Payer state-controlled health care, Assembly Bill 1400, came and went. It did not make it to the finish line despite threats progressive activists made to moderate lawmakers. As Fox 40 reported...

$12,250 per Household Tax Increase for Gov. Newsom’s Single-Payer Healthcare System Proposal

January 12, 2022 9:55 am

Assembly Constitutional Amendment 11 was introduced last week in the California Legislature to enact significant tax increases to fund universal single-payer health care coverage in California, the Globe reported. Single payer is a universal state-run healthcare system financed by taxpayers,...

Study: Biden Death Tax Increases Could Cost 100s of Thousands of California Jobs, Billions in Economic Output

September 15, 2021 1:11 pmSeptember 16, 2021 11:36 am

“In this world, nothing is certain except death and taxes,” Ben Franklin said in 1789. And that was before America adopted an “estate tax,” commonly known as the “death tax.” “In the United States, the tradition of taxing assets at...

California Wealth Tax Proposed in Constitutional Amendment

March 23, 2021 11:23 amMarch 26, 2021 6:48 am

On March 22, Assembly Members Alex Lee, Wendy Carrillo, Lorena Gonzalez, Miguel Santiago, Ash Kalra, Luz Rivas, and Mark Stone introduced Assembly Constitutional Amendment 8 to propose a wealth tax to be placed before the voters. Officially, ACA 8 is...

‘Time Stealing’ Regulations for ‘The Wealth Tax’

August 17, 2020 1:14 pmAugust 17, 2020 7:58 pm

Can you imagine having to do an inventory and net worth calculation every year? Let alone potentially being audited and having to prove that values were not intentionally understated? It’s not only financial robbery, it’s time theft! – Senator John...