Governor, Union Agree on California Tax Plan

Law & Industry Daily ^ | 03/14/2012

[bizlawnews]

SACRAMENTO, Calif., March 14 (LID) – Democratic interests in California have reached a political agreement over dueling tax initiatives aimed at helping the state close a $9 billion budget deficit.

[Eleven Bravo 6 319thID]

Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman, yeah, I’m the taxman

Should five per cent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman, yeah I’m the taxman

If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat.
If you get too cold I’ll tax the heat,
If you take a walk, I’ll tax your feet.

Don’t ask me what I want it for
If you don’t want to pay some more
‘Cause I’m the taxman, yeah, I’m the taxman

Now my advice for those who die
Declare the pennies on your eyes
‘Cause I’m the taxman, yeah, I’m the taxman
And you’re working for no one but me
—George Harrison

[BitWielder1]

The title alone tells me what the fix is.
Who represents the taxpayers here?

[bill1952]

>Governor, Union Agree on California Tax Plan

Those words together in 1 sentence illustrate the entire problem - and the authors don’t even recognize that fact...

[randita]

Under the agreement, Democratic interests would coalesce around a ballot measure to impose a seven-year tax increase on upper incomes and enact a four-year quarter-cent sales tax increase.

Anybody really believe that after seven/four years, these tax increases will expire?

Under the plan, the personal income tax rate for individuals making $250,000 — or couples making $500,000 — would increase 1 percentage point. Individuals making $300,000 — or couples making $600,000– would rise 2 percentage points, while individuals making $500,000 –or couples making $1 million — would pay an additional 3 percentage points in state income taxes.

NJ tried this under Corzine and about $9 billion in assets left the state.

[freedumb2003]

Having quit California a few months ago (after being born raised and residing 50+ years there), I can assure you this is symbolic only.

Polls mean nothing. Californians won’t vote taxes in, no matter what. And, frankly, California Bargaining Units are probably the 2nd most hated group in the state (politicians are still #1). There are about 200,000 Cal State employees. That seems like a lot until you realize there are nearly 40 million people there, 2 or 3 million of which are legal, registered voters.

[forgotten man]

“The CFT president said the tax structure would generate an additional $2 billion “in vital funding” for the next fiscal year.”

I am willing to lay 10 to 1 odds that there will less than $1 billion in additional revenue from the tax increase. There probably will be a decrease in revenue. More than half of the California income tax comes from 1% of the population. You cannot force high income people to stay in California. Meanwhile, Governor Moonbeam is pushing ahead with the bullet train to nowhere.

[skeeter]

Who represents the taxpayers here?

[skeeter]

There are about 200,000 Cal State employees. That seems like a lot until you realize there are nearly 40 million people there, 2 or 3 million of which are legal, registered voters.

There are around 700,000 state employees, 340,000 members of the CA Teachers Association alone.

[freedumb2003]

Most teachers are local employees, not California State employees.

According to the latest figures, there are 197,000 California State employees. We should bump it by 50,000 or so for the CSU employees and we have around 250,000 — well under the 700,000 figure you got from somewhere.

Look here for accurate Cal State figures:

http://www.sco.ca.gov/ppsd_empinfo_demo.html

[skeeter]

OK, I'll accept that there are 200k employees 'paid through the State Controller's Office Uniform State Payroll System in the February 2012 pay period' whatever that means specifically.

But there one hell of alot more public employees in the state than that.

Unless you know otherwise I assume public employees are somehow or other being re-imbursed with public funds.

[mrsmith]

In other news today...

http://www.msnbc.msn.com/id/46735951

“SACRAMENTO, Calif. (AP) - The nation’s largest public pension fund lowered its forecast Wednesday for investment returns and asked the state of California, school districts and local governments to increase contributions - a move that could siphon more money from basic services.
The California Public Employees’ Retirement System voted to lower its projected annual return from 7.75 percent to 7.5 percent. The change will cost the state an extra $303 million a year, with about $167 million coming from the general fund...”

[MasterGunner01]

Great! The California is circling the drain and the unions and political morons are rearranging the Titanic's deck chairs (post-icebeg).

I wonder when they will institute travel documents to go outside the state and tax you for leaving?