CRP Blog

Wednesday, August 6, 2008

An Initiative Karl Marx Would Love

Those who thought socialism died with the fall of the Berlin Wall can look to two places to see that's not the case, and one is in California. The first is the island "paradise" of Cuba, where de facto leader Raul Castro recently warned the people to brace for "difficult times." (As though the last 50 years haven't been "difficult.")

The second place to look is the California Secretary of State's office, where an initiative was just filed which must have been lifted from the pages of Das Kapital, at least in spirit. Here's the proposal:

1. A one time tax of 55% on any property valued at over $20 million. That's right, own a farm? Sacramento will help itself to 55% of it. But don't worry, it's only "one time."

2. A one time tax of between 36.5% and 54.3% (where do they come up with these percentages?) on incomes of over $10 million when upon death or moving out of the state. (Just think of this as a financial Berlin Wall to keep people from leaving.)

3. Additional income taxes: 17.5% on incomes of more than $150,000 if single, $250,000 if married; 35% on incomes of $350,000 if single and $500,000 if married.

4. The state would be forced to acquire shares of companies' stock in order to have influence over the environmental policies. (That's because government-owned companies take very good care of the environment. Just ask the East Germans.)

More information is available in Ben van der Meer's story on Politicker.

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