Could L.A. Millionaires Be Facing Another Tax?

Everyone can agree that being homeless is terrible. No matter what the circumstances are that bring an individual to this predicament, it’s unfortunate that anyone has to be without a place to call home. Cities all over the country deal with the homeless in different ways, including California. The Golden State is considering taking its effort to stamp out homelessness even farther, and they are looking at the state’s wealthiest individuals to foot the bill.
According to reports, the L.A. County Board of Supervisors plans to include a proposal in November that would add a tax of .5 percent to anyone that has an annual income over $1 million. According to the numbers, that would create anywhere between $250 and $300 million each year in funds that would be earmarked for eliminating homelessness and helping these individuals back into the workforce.
So far, early indications show that most people are very much in favor of the idea. A recent poll showed that 76 percent of the 1,400 people asked, liked the proposal. The plan to wipe out homelessness in the county includes creating steady housing and services as well as job placement help, among other things, for the county’s growing number of homeless people. No word yet on how those who fall into this bracket would respond.
http://time.com/money/4356367/millionaire-tax-los-angeles-homeless/
Will the IRS Stop States From Avoiding Tax Deduction Caps?
Will the IRS Stop States From Avoiding Tax Deduction Caps? By far, one of the most controversial aspects of the new Tax Cut and Jobs Act (TCJA) has been the reduction in the state and local income tax deduction. This has long been an important deduction for many people. Being able to deduct your state…
Principle Based Leadership
Principle Based Leadership Transformational Leadership Series: What is a leader? Or better, what is a leader’s role in an organization? If the answers to these questions could be culminated to one single sentence it would be: to execute the mission of the organization in the most efficient, effective, and ethical manner, at the highest level.…
Could the Recent Tax Overhaul Lead to a Bear Market?
Could the Recent Tax Overhaul Lead to a Bear Market? It took years to get there, but the major tax reform set in motion, and eventually passed into law by Republican lawmakers in Washington has had a profound affect on the stock market. The Tax Cut and Jobs Act (TCJA) has already given a big…
How to Boost Employee Engagement With One Simple Practice
How to Boost Employee Engagement With One Simple Practice Any manager, business owner, or company leader will tell you they would like to improve employee engagement. Employee engagement, after all, is a vital part of any company’s success. However, this is much easier said than done. Performance reviews are old fashion and typically make employees…