[Sanity Check]

A proposed constitutional amendment (ACA 11) in California would increase taxes by $12,250 per household, roughly doubling the state’s already high tax collections, to fund a first-in-the-nation single-payer health-care system. The top marginal rate on wage income would soar to 18.05 percent—nationally, the median top marginal rate is 5.3 percent—and the state would adopt a new 2.3 percent gross receipts tax (GRT), at a rate more than three times that of the country’s highest current pure GRT.

All told, the new tax package is intended to raise an additional $163 billion per year, which is more than California raised in total tax revenue any year prior to the pandemic.

The new taxes would take three forms:

1. Surtaxes atop the current individual income tax structure beginning at $149,509 in income;
2. A graduated-rate payroll tax system with the top rate kicking in for employees with more than $49,990 in annual income; and
3. A gross receipts tax of 2.3 percent, excluding the first $2 million of business income.

This is not the first time California lawmakers have considered creating a single-payer health system, which previous estimates pegged as requiring $200 billion in additional state funding. This assumes, moreover, that California secures federal approval to redirect approximately $200 billion in federal funding toward a health-care match, since the full cost of the program is about $400 billion per year. Even with that match, the numbers only balance if a single-payer system generates significant cost savings, an assumption that is, at minimum, controversial. And as with prior considerations of one-state single-payer proposals, there are questions of whether residents would still need health insurance to cover them while outside the state, depending on how the program is designed.


Practically doubling state taxes—even if the burden is partially offset through state-provided health coverage—could send taxpayers racing for the exits.


https://taxfoundation.org/california...-tax-proposal/



More info @ source


Do americans support single payer healthcare?

[slewfan]

How else would California pay for the illegals, homeless and criminals who always need medical services.?. Instead of fixing their current problems, they just exacerbate the situation by throwing more money at it..

Thats leadership..?.. considering their Governor and their congressional representatives, one can expect nothing less than what these criminals can and will provide.. NOTHING !!!

[MinnesotaFats]

This is literally what Venezuela did and how they sold it to the public.

How'd that work out 10 years later when all the wealth left...and all that remained was horrible shoddy free healthcare