California Wealth Tax – Debt Nation Canada
California Legislators Propose 0.4% Wealth Tax, Plus 16.8% Income Tax Rate
Not shocked yet? The newest tax some golden state legislators want to collect is a .4% wealth tax. The “leader” in state taxes already, this would be first-in-the nation wealth tax targeting the very wealthy. This isn’t on income they earn, mind you, but on their wealth itself. A summary of the bill says, “AB 2088 establishes a first-in-the-nation net worth tax, setting a 0.4% tax rate on all net worth above $30 million.” California Assembly member Rob Bonta, D-Oakland, proposed the legislation. The tax would be applied to the net worth of about 30,400 Californians, “raising approximately $7.5 billion annually,” the summary claims. “The tax takes into account all assets and liabilities held by an individual, globally, capturing the immense levels of accumulated wealth held by the top 0.1% of Californians.”
Overdose deaths outnumber COVID-19 deaths more than 3 to 1 in San Francisco
Drug overdose fatalities in San Francisco this year outnumbered COVID-19 deaths by a 3 to 1 margin, as deaths related to the powerful painkiller fentanyl rose.
In 2020 alone, 621 people have died from drug overdoses in San Francisco, while the number of coronavirus fatalities were 173, The Associated Press reported.
According to local reports from the San Francisco Chronicle, the city’s Drug Overdose Prevention and Education (DOPE) Project used Narcan this year 3,000 times from January to November to save people who nearly died due to an overdose of fentanyl or related opioid abuse substances.
Justin Trudeau and the Dismantling of Canadian Identity
Justin Trudeau, Prime Minister of Canada, is a man with a vision for his country. What remains unknown, however, is whether or not Canadians share this vision.
Thus far in his tenure, Trudeau has been far more explicit about what he does not want for Canada than he has been regarding the kind of nation he envisions for our future.
One thing he does not want, as publicly stated shortly after taking office, is a Canada based upon “national identity.” This bold assertion, in effect, tells us Trudeau does not believe in a Canada defined by a national heritage developed over 148 years of history.
Trudeau Liberals’ fiscal update puts Canada on path of debt and stagnation
There was widespread, bipartisan support for large-scale financial support for Canadians amid the China Virus pandemic.
For example, before the Liberals had proposed sending out money to Canadians, I was calling for everyone to get $2,000 quickly, to prevent an economic collapse as the economy shut down.
Trudeau Liberals spending Canada into a massive hole
Canadians who have a hunch — because a hunch is all they’ve got to work with — that the Trudeau Liberals have been spending like spoiled, entitled legislators with no real idea how many billions they’ve sent out the door are unfortunately dead on.
The Trudeau Liberals’ spending is off the charts.
Study: Electric Cars Can Actually Do More Damage to Environment Than Diesel Engines
Another study has called into question the environmental benefits of electric vehicles, citing the amount of carbon pollution emitted when making lithium ion batteries.
Depending on where it is manufactured, an electric vehicle can emit more carbon dioxide into the atmosphere than an efficient conventional car, according to data compiled by Bloomberg New Energy Finance and Berylls Strategy Advisors.
The problem centers around the development of lithium-ion batteries, which largely power electric vehicles.
It takes significant energy to manufacture these batteries, and the process can actually mean more carbon pollution is released if it’s manufactured in a country heavily reliant on fossil fuels.