Silicon Valley basically props up the California state government.https://twitter.com/laoecontax/status/986334020001660929 …
Partner at @initialized. Previously @techcrunch. When life hands me lemons, I make tarte au citron.
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Kim-Mai Cutler Retweeted California Economy & Taxes
Silicon Valley basically props up the California state government.https://twitter.com/laoecontax/status/986334020001660929 …
Kim-Mai Cutler added,
and yet it’s still getting an absolute steal on the wealth it’s hoarding
At a federal corporate tax level, yes. But the state captures the wealth via more progressive income taxes than anywhere else in the US.
*continues to wish the city's income tax was progressive, or in fact, existed at all*
The state doesn’t want to share income taxation powers with the cities because it itself has crazy revenue predictability issues.
Oh I thought it was because much of state policy was written by fiercely anti-tax people like Howard Jarvis who care more for their own wealth than for other Californians' right to not starve.
What incentive would the state government have to share income taxation powers with cities?
Is the state's goal to bring in as much revenue as it can? Or is it to create a place where its residents can be safe and happy?
That is a good question!
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