I don’t believe there is any section of the Constitution that says governments should use taxpayer money to buy up shares of corporations so the government can control them.
Do you ever remember reading anything like that in school?
So why is there a proposition trying to get on the ballot to do just that?
This prop will tax the hell out of everyone to raise money. Then it uses that money to buy up corporate shares and make the companies semi-government entities so that the California government can control them. When I read stuff like this I have to pinch myself to remind me that I’m not in the old Soviet Union.
The One-Two Punch
First, this prop will slap us with a tax increase of 17.5% on individual incomes over $150,000/$250,000 (single/married), and 35% for incomes over $350,000/$500,000.
On anyone making over $6.7M/$8.9M, they get a 55% one-time tax hit on all property. Then it imposes a 36%-54% tax hit on anyone making over $10M who makes the mistake of dying in California or even tries to move out of the state. Have you ever heard of being taxed if you want to leave a state? Unreal.
Second, this prop, “requires the state to acquire shares of specified corporations to influence environmental practices.” So once the government has controlling interest in the company, they can mandate whatever environmental regulations they want, even if doing so destroys the company.
Lastly, “Remaining revenue would be allocated to purchasing the common stock of various weapons, petroleum, automotive, media and financial companies, as well as for other environmental protection-related purposes.”
So the government would use this tax revenue to take over companies that make or sell guns, petroleum products, news or financial companies…all in an effort to gain control over them.
From there they can mandate whatever they want…why try to pass new gun control laws when you can just buy up the companies that make guns and enforce whatever controls you want. Why worry about what the news is going to say about such a horrible government tonight when you can just buy up newspapers and news outlets and tell them what to say tonight instead.
What kind of government does the State of California sound like it’s trying to become to you?
Categories: Government Failures