CA Sen DeSaulnier intent on driving businesses out of California
Original post made by jimf01, another community, on Apr 24, 2014
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 companyâ€™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.