California is one of the most overtaxed states in the nation. But as this episode of What’s Ahead warns, residents are in for a new jolt: Electricity bills will not only be based on the amount of juice consumed but also on personal incomes.
That’s right. In addition to the traditional income tax people are currently subjected to, this is a new income tax—and it’s combined with a novel income-redistribution scheme.
The state legislature passed this outrageous monstrosity a year ago, and California’s three largest utilities are working with the Public Utilities Commission to implement it. The implications for your financial privacy are awful, and make no mistake, this is also a beachhead for a wealth tax.
This article was originally published by Forbes.com. Read the original article here.