Dem Legislature passes more tax cuts

Dem Legislature passes more tax cuts

Lockheed MartinWho said California Democrats oppose tax cuts? They long have supported tax cuts for their pals in Hollywood.

Now the Democratic Legislature is passing tax cuts for their buddies in the military-industrial complex:

“The California Assembly on Thursday approved a fast-tracked proposal to provide up to $420 million in tax breaks over 15 years for the aerospace industry.

“The bill by Assemblyman Steve Fox (D-Palmdale) would offer credits for an ‘advanced strategic aircraft program.’ The credits would be capped at $25 million annually the first five years, $28 million per year for the next five years and $31 million annually for the final five years.

“The tax credit program would expire after 15 years.

“The tax credits, should they go into effect, could help boost the chances for aerospace companies, such as Lockheed Martin, that are bidding for contracts for the Defense Department’s Advanced Strategic Aircraft Program.

“‘We need to pass this tax credit to make California bidders have a more competitive edge in the bidding process,’ Fox said.”

OK. Fair enough.

But that’s true for the rest of us as well. Everyone knows other states are “bidding” for our jobs and businesses with lower taxes and regulations. Toyota just moved its HQ to Texas.

So what we all need is tax cuts. How about starting by cutting the income tax in half for everybody?

5 comments

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  1. Bob
    Bob 26 June, 2014, 19:11

    Typical Hypocrats. But they still stick it to the little guy with their 9.3% marginal tax rate that kicks in at what, 48k? Plus the 7.5% sales tax which local Hypocrats tack on with county and city sales taxes.

    Reply this comment
  2. Queeg
    Queeg 26 June, 2014, 20:49

    Why tax credits? Why war on women? Why identity politics? Why unions? Why Affirmative Action? Why enterprise zones? Why tax deductions for owning a home? Why zoning? Why progressive tax rates? Why carpool lanes? Why mandatory public schools?

    Think……you’re had on many levels.

    Reply this comment
    • Donkey
      Donkey 27 June, 2014, 07:30

      Because the RAGWUS has engineered it that way Queegy, as a rotund abundant feeder you know this to be true!! 🙂

      Reply this comment
  3. Queeg
    Queeg 27 June, 2014, 13:29

    Yawnn…..zzzzzzzzzzzz

    Crank up the snow cone machine…..be useful again!

    Reply this comment
  4. Ted Steele, The Decider
    Ted Steele, The Decider 28 June, 2014, 16:12

    What is RAGWES again?

    Reply this comment

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Tags assigned to this article:
HollywoodJohn Seilerlegislaturetax cuts

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