California New Gas Taxes Go Into Effect, Now Highest in the Country

California Gas Taxes(Catholic Online) With the Exception of Two States,
States With the Highest Taxes Voted for Obama in 2012
Image:
Californians Against Higher Oil Taxes

Flashback: On the 13 May, I wrote here that California in 2014 was the worst state for business according to an annual survey of 500 CEO’s across the country which graded states which they were familiar on measures including taxes and regulatory regime, the quality of the workforce and the quality of the living environment.

With the 930 new laws which mostly all took effect yesterday, it isn’t very likely that CEO’s across the nation will give California any better grade this year.

Treasury Inspector General: $67 Million Missing from ObamaCare Slush Fund

Obama Scandals2014 Midterms: Its About Obama’s Scandals Stupid —Feisty Floridian

(ATR) The IRS is unable to account for $67 Million (its your money) from an ObamaCare slush fund according to a Treasury report released today.

The “Health Insurance Reform Implementation Find” (HIRIF) was quietly tucked into the ObamaCare bill (that no one read before passing it)  in order to give the IRS money to enforce the tax hikes and provisions of the healthcare law.

California Unions Paid Millions to Raise Taxes Resulting in Negative Economic Consequences

California Prop 30Thanks California Prop 30 Supporters for Making the State #1 in Taxes
Image:
Soquel by the Creek@Twitter

On Wednesday I wrote here that Gov Jerry Brown’s tax hike had negative economic consequences and is a contributing factor why California is ranked as the worst state for business in 2014

California’s Comeback Miracle Turns Out to Be a Mirage — Gov Brown’s Tax Hike Has Negative Economic Consequences

New IRS Form Proves That Obama Lied About Individual Mandate Surtax

Incomes TaxesFederal Income Tax Failure –Image: J. Jacobs@Twitter

(ATR) On Thursday, the IRS released a slew of new tax forms–the new draft Form 1040 shows a new ObamaCare surtax line has been created for payment of the individual mandate surtax.

ObamaCare TaxesNew IRS Draft Form 1040 Proves that Obama Repeatedly Lied About Individual Mandate Tax –Image: Elisabeth@Twitter

President Obama repeatedly:

(a) denied that the ObamaCare surtax was actually a tax;

(b) claimed that he would not raises taxes on the middle-class;

President Obama is a pathological liar.

CBO Subsequent to ObamaCare Changes, Says it Can Not Forecast ACA Impact on Deficit

ObamaCare LieGotta Love It When ‘Team Obama’ Puts Their Lies in Writing
Image: PolitiBunny@Twitter

(The Fiscal Times)  One of the Obama Administration and Democrats major selling points of the new health care law was that “ObamaCare is projected to cut the national deficit by over $200 Billion during its first 10 years and over $1 Trillion over the next two decades…” however not according to the Congressional Budget Office.

In a little noticed footnote first reported this week by Roll Call updating estimates of the effects of insurance coverage provisions of the law, the agency headed by Douglas Elmendorf acknowledged, that neither the CBO nor the Joint Committee on Taxation (JCT) could determine precisely how scores of provisions–would impact on longterm government spending.

“CBO and JCT can no longer determine how the provisions of the ACA that are not related to the expansion of health insurance coverage have affected their projections of direct spending and revenues,” the CBO wrote. “The provisions that expanded coverage established entirely new programs or components of programs…Isolating the incremental effects of those provisions on previously existing programs and revenues four years after enactment of the ACA is not possible.”

As the Roll Call story noted, the CBO based its original estimates of long-term deficit reduction on the assumption that ObamaCare which included Medicare cuts and numerous new taxes would be implemented as written, that was before a blizzard of Obama Administration changes and delays in deadlines of the implementation of the health care law.

Be Sure to Thank Liberal Dems in Sacramento as Southern California Rental Property Costs Expected to Continue to Rise

For Rent in MalibuMalibu Rental –Image: AceRenting@Twitter

(LA Times) Rental home costs are going to continue to rise–nearly 78% of Southern California apartment building owners say they plan to hike rents in the next 12 months according to a new survey from real estate broker Marcus & Millichap about 22% plan to increase rents by at least 3%

On the 04 June, I wrote here that over half of Americans reportedly are already struggling to keep their homes and the problem is only going to get worse.

LA Rental PricesIn April, ‘Curbed LA’ Published a Chart Showing the Best & Worst Rental Prices Throughout Los Angeles Area

Say Good-Bye to Prop 13 ?

In May, The Sacramento Bee–Capitol Alert reported after decades of wrangling by Democrats (that just can’t seem to confiscate enough of taxpayers money to spend, I digress) during a hearing of the ‘Assembly Revenue and Taxation Committee’ lawmakers agreed on changes to the 1978 law governing reassessments of commercial property when it changes hands, citing one of their old stand-by favorite liberal arguments ‘fairness’ of the tax system, as if voters were not smart enough when Prop 13 passed by a 2 to 1 margin.

Will confiscating more money from commercial/business property owners actually result in more “fairness” that Democrats like to claim or just raise the costs of doing business and make things (such as rental costs) more expensive?

The latter of course, as Forbes correctly points out–Corporations (such as rental property owners) don’t pay taxes they pass on their business costs and expenses to their customers or in this case, to their tenants in the form of higher rents.

Why is it that California voters continue to reelect liberals to Sacramento is anyones guess–Just as, how many licks does it take to get to the ‘Tootsie Roll’ center of a “Tootsie Roll Pop” the world may never know?

Related: Squeezing Out the Working Class Through Higher Rents

Lack of Housing Trouble–That Might Be Trouble –LA Register

What Democrat/Progressives & MSM Won’t Tell You About the Dubious ObamaCare Enrollment Data

Obama to Unveil New ‘Cap & Tax’ Regulations on Monday, For the Children

Obama New RegsWannabe King Obama Will Bypass Congress (Again) to Implement
his Previously Failed ‘Cap and Tax’ Plan

(Bloomberg) President Obama said today that his administration’s plan to combat global warming, climate change climate disruptions will be unveiled next week is for the children.

In 2009 and with a Democrat controlled Congress, Obama’s “Cap & Tax” plan was met with resistance and was criticized by then West Virginia Democrat Robert Byrd and died in the Senate without further consideration.

Flashback: Remember in January, 2008 when Obama told the San Francisco Chronicle that under his plan energy costs will necessarily skyrocket.

Obama’s new environmental regulations all comes at a time when the nation’s economy stalled in the 1st Qtr with GDP falling to -1%, growing inflation fears with food prices up in 2014 by 19% and a shrinking workforce according to the Bureau of Labor Statistics, which reports the labor participation rate in April fell to 62.8% unseen since Jimmy Carter was president 35 years ago.

How long will it be before Obama shatters that dismal labor force participation record with his disastrous new regulations that already steals more than $1.8 Trillion from a struggling, anemic economy teetering on the brink of a triple dip recession?

Related: Cap and Trade: A Scam Based on a Scam –Canada Free Press

White House Turns Blind Eye on Democrats Who Oppose Climate Rules

IRS Bruiser to Job Creators: Pay $100 Penalty Per Day $36,500 Year for Each Employee Dumped into ObamaCare Exchange

ObamaCare IRS

(NY Times) Many employers (job creators) thought they may be able to hold on to employees by shifting the costs of health insurance premiums to them by providing their workers with a tax-free contribution so they could buy their own health insurance wherever they may please–what could be wrong with that?

Not so fast according to the Obama Administration which has nixed this plan in a new IRS ruling that forbids employers from dumping their employees into the ObamaCare exchanges by levying a $100 a day fine ($36,500 annually) for every employee that is provided money to purchase their own health insurance–thereby raising the costs on businesses to actually maintain employment levels.

“For decades, employers have been assisting employees by reimbursing them for their health insurance premiums and out-of-pocket costs,” said Andrew Biebl, a partner in CliftonLarsonAllen, LLPAccountants based in Milwaukee. “The new federal ruling eliminates many of these arrangements by imposing an unusual punitive penalty.”

Raising the costs and regulations on American businesses does not incentivize companies to add more jobs or increase wages, according to a recent Congressional Budget Office report on ObamaCare which confirmed what many of us had already believed, that the ACA is having a tremendously negative impact on economic growth.

Besides the latest IRS regulatory burden that ObamaCare will have on economic growth and opportunity, the Natl Federation of Independent Business Research Foundation estimates the ObamaCare ‘Health Ins Tax’ will result in a further reduction in private sector employment of 152,000 to 286,000 jobs, with California being hit the hardest and a loss of between $20 to $33 Billion of economic activity by 2022

ObamaCare Health Insurance TaxObamaCare ‘Health Ins Tax’ Could Cost Up to 286,000 Jobs

When even the Federal Reserve admits that ObamaCare is hurting the economy, its long past time that it must be repealed.