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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by FOXBUSINESS.COM:

California lawmakers unveiled a new bill at the beginning of the year that would establish a single-payer health care system – an ambitious plan that would be funded by nearly doubling the state’s already-high taxes.

A new analysis from the Tax Foundation, a non-partisan group that generally advocates for lower taxes, found that the proposed constitutional amendment would increase taxes by roughly $12,250 per household in order to fund the first-of-its-kind health care system. In all, the tax increases are designed to raise an additional $163 billion per year, which is more than California raised in total tax revenue any year before the pandemic.

The article goes on to state the following:

The proposal includes three main revenue raisers, according to Jared Walczak, a fellow at the Tax Foundation: Higher income taxes on wealthy Americans, a payroll tax on certain employees’ wages for large companies, and a new gross receipts tax.

Fox News provided the following information about how the tax system would be structured, based on individual income:

2.25%: $0
3.25%: $9,324
5.25%: $22,106
7.25%: 34,891
9.25%: $48,434
10.25%: $49,900
11.55%: $61,213
12.05%: $299,509
12.55%: $299,509
13.05%: N/A (for married couples, this applies to income of $599,013)
13.55%: $312,865
14.05%: N/A (for married couples, this applies to income of $625,371)
14.55%: $375,220
15.05%: $599,013
16.05%: $625,368
17.05%: $1,000,000
17.30%: $1,299,500
18.05%: $2,484,121

To get more information about this article, please visit FOXBUSINESS.COM.

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    • I strongly believe Newsom Democrats rigged & cheated to KEEP NEWSOME in office during RECALL ELECTION ! He’s not been doing anything positive for California whatsoever?? In fact he’s obviously involved in a COMPLETELY CORRUPT ADMINISTRATION, destroying the state to the best of his ability, so WHO besides illegals would have voted to keep him in office?

  1. I say let them do whatever they want. The sooner they completely destroy that 💩hole, the better. We just need to have a government in place that won’t bail them out.

    After the implosion, we can just let the wildfires burn it to the ground and we’ll start fresh.

  2. I don’t, for the life of me, understand how anyone can live in CA. Every time I hear of a ridiculous new rule/tax, I can name it to be “California” before even opening the article. The land of robbery for the benefit of all in charge!!
    And does anyone see the resemblance of that awful Governor to Jack Frost (Movie: The Santa Clause)


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