(Via The Daily Wire)
Democrats in California, unsatisfied with sucking every possible dollar away from taxpayers, have a new vacuum-ready plan: force some businesses to give half of the savings they accrue from the newly-instituted tax cuts back to the state.
Daily Wire Editor-in-Chief Ben Shapiro, who hails from Los Angeles, blasted his state’s Democrats in an email to The Daily Signal: “It’s typical that Democrats in California see every dollar back in taxpayers’ pocket as a dollar they can steal. They’re driving business out of the state quickly and efficiently, and this latest move will continue to do just that.”
State Assemblymen Kevin McCarty (D-Sacramento) and Phil Ting (D-San Francisco) want to impose a tax surcharge on companies in California “making more than $1 million,” according to SF Gate. The surcharge instituted by their proposal, ACA22, would transfer the funds accrued by the state to state government programs for middle-class and low-income families.
Ting released a statement which said, “Trump’s tax reform plan was nothing more than a middle-class tax increase. It is unconscionable to force working families to pay the price for tax breaks and loopholes benefiting corporations and wealthy individuals. This bill will help blunt the impact of the federal tax plan on everyday Californians by protecting funding for education, affordable health care, and other core priorities.”
The tax cuts implemented by the GOP cap the state and local income tax deduction at $10,000, which would permit taxpayers who itemize to deduct from federal taxable income property and income taxes they pay to state or local governments.
McCarty told The Daily Signal, “I’ve seen enough billionaire justice in the first 11 months of this presidency to last my lifetime. At a time when reckless federal tax policy favors billionaires over middle class workers, ACA 22 will help ensure that California can continue to grow and support middle class families throughout the state.”
Soros Newest Investor Of Tesla Bonds
Tesla looks to have a new bond holder and it’s none other than George Soros. Whatever this mean, Soros has also taken a stake in Crypto-Currencies .
Zerohedge Reports: Amid Elon Musk’s darkest hour in late March – as his stocks and bonds tumbled in price – it seems there was at least one other billionaire willing to buy the ‘blood on the street’.
According to the latest 13Fs, George Soros’ investment firm took a $35 million stake in Tesla’s convertible bonds during the first three months of the year.
As a reminder, convertibles are hybrid securities, either bonds or preferred stock, that can be exchanged for a predetermined number of common shares. That effectively lets an investor participate in stock-price changes, but with the yield and greater security of a fixed-income instrument.
The March 2019 Converts bounced handsomely off those lows – tracking the stock’s divergent bounce – but in recent days has fallen back towards the lows, catching down to the straight bonds record low price.
“Racial Bias Education Day” To Close Down Starbucks Nationwide
Starbucks is going to the illogical extreme by taking an entire day to put their employees through what they call “Racial Bias Education Day”. Coming after a viral videos showed two men being arrested in a Starbucks in Philadelphia. Starbucks almost instantly gave into calls to do ‘something’ but will this really fix anything in a culture where ‘racism’ is more of a political talking point than an actual substantive conversation or debate.
CNBC Reports: Starbucks said Tuesday it will be closing all of its company-owned restaurants in the U.S. during the afternoon of May 29 to conduct a racial-bias education program.
“I’ve spent the last few days in Philadelphia with my leadership team listening to the community, learning what we did wrong and the steps we need to take to fix it,” Kevin Johnson, CEO of Starbucks, said in a statement Tuesday. “While this is not limited to Starbucks, we’re committed to being a part of the solution. Closing our stores for racial bias training is just one step in a journey that requires dedication from every level of our company and partnerships in our local communities.”
Soros Now Investing In Crypto-Currencies
After a historic drop in cryptocurrency prices in the first quarter, one which deflated much of the euphoria that surrounded the sector in late 2017 and the start of this year, the space is about to get exciting again because none other than 87-year-old billionaire George Soros is reportedly preparing to trade cryptocurrencies as prices plunge.
According to Bloomberg, Adam Fisher -who oversees macro investing at New York-based Soros Fund Management – has received internal approval to trade virtual coins in the last few months, “though he has yet to make a wager.”
The question, of course, is whether Bloomberg’s leak is accurate, and if indeed Soros is only now getting started in the space or if he has quietly loaded up already.
What is ironic, is that just three months ago when speaking at the World Economic Forum in Davos, Soros said digital coins cannot function as actual currencies because of their volatility, “but he didn’t predict the hard tumble that some observers had forecast at the time.”
“As long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad,” Soros, 87, said on Jan. 25.
With Bitcoin tumbling below $7000 recently…