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The PJ Tatler

by
Bryan Preston

Bio

August 20, 2013 - 1:39 pm

The progressive god giveth, and the progressive god taketh away.

SACRAMENTO (CBS13) — Small-business investors in California were promised big breaks five years ago, but now they’re being told to pay up, instead after a court ruling.

After following the law, many of them are getting hit with tax bills as high as $250,000.

“When we make a promise, we have to uphold it,” said Sen. Ted Lieu, D-Redondo Beach.

But that is not what the state government appears to be doing. Small-business owners are getting hefty tax breaks for tax credits they already got five years ago.

“They relied on California law as it was written, that they would get a tax break if they invested in certain kinds of businesses,” Lieu said.

But a court ruled in December that practice by the state was unconstitutional. Now, the Franchise Tax Board wants its money.

Money isn’t the only thing that the progressive god taketh away.

Investors who could be hit by the retroactive taxes did not want to go on camera, fearing they would become an easy target for the Franchise Tax Board.

Their fear is justified in Obama’s fundamentally transformed America. We are all more subjects than citizens. Well, those of us who are here legally are.

Does the Franchise Tax Board think that the business owners just kept the money from the tax breaks, put it in big piles and rolled around naked on it? I’m sure one or two of them did, but those who actually wanted to keep their businesses going re-invested their own money into their businesses or other businesses. Now the state wants it all back. If this stands, some of these businesses will go out of business. Or move to Texas.

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.

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Sorry guys, if you are silly enough to be a business owner in a communist state you deserve what you get. There is no rule of law anymore just the powerful raping people on the wrong side of the political spectrum.
52 weeks ago
52 weeks ago Link To Comment
Well, the lesson is don't react to government "incentives". They are a trap. Whatever the morons pass, just ignore it if it they dangle the ability to keep your own money in front of your eyes. Make your investments for you own advantage with the proviso that government is an unreliable "partner."
52 weeks ago
52 weeks ago Link To Comment
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