California Single-Payer Healthcare Proposal Could Double State’s Taxes

A California proposal for single-payer health care, unveiled earlier this year, would double the state’s already high taxes.

According to analysis from the Tax Foundation, the proposed constitutional amendment would increase taxes by “$12,250 per household.”

In total, there are three main revenue raisers to the proposal which include, additionally higher taxes on those whose income exceeds $149,509, a payroll tax on wage earners “with the top rate kicking in for employees with more than $49,990 in annual income,” and a “gross receipts tax of 2.3 percent, excluding the first $2 million of business income.”

Read more at Newsmax© 2022 Newsmax. All rights reserved.