California is looking to impose an estate tax if the federal government's tax is repealed.
Steven Greenhut writes:
Sen. Scott Wiener, a San Francisco Democrat who ironically has a reputation as being pro-business, has introduced Senate Bill 726. If approved by the legislature and then voters, it would impose a California estate tax that's identical to the federal one, but only if the federal tax is repealed. His goal, according to a statement, is "recapturing the lost funds and investing them here at home in our schools, our health-care system, and our roads and public-transportation systems."
It's the latest example of Trump-spite in the state Capitol, but it sends a clear message that California isn't in any danger of becoming a business-friendly state any time soon.
And I chuckle at the idea of "investing" in the state's governmental operations. Pick any government agency or project and the waste is rampant. Infrastructure is crumbling, yet it's not from a lack of dollars, given that taxpayers spend far more on most things per-capita than other states. There is never any serious discussion about improving the delivery of services.