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California is a sorry excuse for a state
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<blockquote data-quote="vantexan" data-source="post: 3361457" data-attributes="member: 24302"><p>Don't know if that applied to business income but there was for awhile a top bracket of 90% on personal income. That kicked in on income above a very high amount. It didn't tax all income at 90%, just income above a certain threshold. And led to people doing things off books and stashing money overseas. The corporate rate at 35% led to using loopholes to protect money earned overseas by multinationals. What is happening now demonstrates given a chance to keep more of their profit great things can be done. Not exactly the picture of corporations that some like to paint.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3361457, member: 24302"] Don't know if that applied to business income but there was for awhile a top bracket of 90% on personal income. That kicked in on income above a very high amount. It didn't tax all income at 90%, just income above a certain threshold. And led to people doing things off books and stashing money overseas. The corporate rate at 35% led to using loopholes to protect money earned overseas by multinationals. What is happening now demonstrates given a chance to keep more of their profit great things can be done. Not exactly the picture of corporations that some like to paint. [/QUOTE]
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