The Stand - Daily Newsletter
August 20, 2020
California’s Tax Grab 💰
Joe Biden isn’t the only one with plans to raise taxes. So is the People’s Republic of California. Not only are state lawmakers considering higher taxes on current residents, they also want to tax people who’ve already left the state.
The backdrop to the California tax proposal is a massive $54 billion deficit. Yet rather than cut spending or end giveaways to liberal interest groups, California’s powerful government unions have demanded higher taxes. The current proposal is targeted at the wealthy and would apply to virtually all assets they hold everywhere, even outside of California. Worse, people who left the state within the last 10 years would still be forced to fork over money.
The bill’s liberal backers say it’s all about attacking the rich, but every Californian would get hurt in the end. Higher taxes drive away job creators and can raise less money than intended, leading to calls for even higher taxes on even more people — all without solving the underlying spending problem. Since California is often where the worst ideas get their start, this terrible tax hike needs to fail.
→ Read more: California wealth tax could become first of its kind in US under new proposal (San Francisco Chronicle)
→ Read more: Before proposing a new wealth tax, maybe California should actually try studying it first (Yahoo)
China Is Silencing American Students
Communist China’s censorship no longer stops at the Chinese border. The “national security” law that Beijing passed to take over Hong Kong is even stifling speech at some of America’s most famous universities.
The Hong Kong law essentially bans anything that threatens Communist China’s grip on power, which includes open discussion of freedom, the rule of law, and even historical facts. The law applies to the roughly 7,000 Hong Kong students studying at American schools. To prevent these students and their families from being attacked or imprisoned, universities like Harvard, Princeton, and Amherst are considering using code names, anonymous online chats, and warnings about classes that Communist China could find offensive.
That’s bad enough, but the bigger danger is that some schools will stop teaching the truth altogether. As one Princeton professor put it, “If we, as a Chinese teaching community, out of fear stop teaching things like Tiananmen or Xinjiang or whatever sensitive topic the Chinese government doesn’t want us talking about, if we cave, then we’ve lost.”
→ Read more: China’s national security law reaches into Harvard, Princeton classrooms (Wall Street Journal)
→ Read more: U.S. tells universities to shed China share holdings ahead of potential delisting (Marketwatch)