L.A. county proposal to tax millionaires in order to end homelessness

Discussion in 'Business & Economics' started by Plazma Inferno!, Jun 3, 2016.

  1. Plazma Inferno! Ding Ding Ding Ding Administrator

    In order to pay for its pricey plan-of-attack to eradicate homelessness in Los Angeles County, the L.A. County Board of Supervisors is audaciously attempting to place a 'millionaire's tax' on the November ballot for the voters' consideration. The proposed tax would take a half-percent of personal incomes exceeding $1 million annually countywide, and devote the revenue towards funding the county government's 47-point plan for ending homelessness in Los Angeles.
    According to a poll conducted for the county government, a whopping 76 percent of L.A. County residents favor the proposed tax on L.A.'s many millionaires. The proposed tax is estimated to produce anywhere from $250 million to $300 million annually. While this isn't enough to fully fund all the programs the county wants to enact to fight homelessness, it's enough to fund significant progress.

    joepistole likes this.

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