San Francisco - Budget panel finds consensus elusive (Raise taxes to close budget gap?)

SFGate.com ^ | 3/29/04 | Ilene Lilchuk - SF Chronicle

[NormsRevenge]

San Francisco's looming budget deficit of $352 million projected for next fiscal year has an unlikely coalition of big business representatives, labor leaders and social service providers talking taxes.

In its final meeting Friday before making recommendations to the Board of Supervisors, an advisory group led by Supervisor Fiona Ma didn't come to any conclusions about the hard choices San Francisco must make: whether to tax the rich so the city can keep services for the poor, tax everyone equally or forget the new taxes and force Mayor Gavin Newsom to cut spending.

[NormsRevenge]

TAXING SAN FRANCISCO An advisory panel is considering whether the Board of Supervisors should place tax increases on the November ballot. Here are some of the proposals and the revenue they would produce.

Tax 2004-05 revenue 2005-06 revenue

Vehicle license fee $16.0 million $64.0 million

Double the property transfer tax for sales over $1 million $12.4 million $24.7 million

Double the property transfer tax for sales over $2 million $7.1 million $14.1 million

Payroll tax increase $9.4 million $18.8 million

Close payroll tax loophole for business partnerships $13.5 million $13.5 million

New commercial occupancy tax $39.4 million $39.4 million

New residential tax on energy and telephone utilities $14.4 million $28.9 million

New residential tax on energy, telephone and cable $18.9 million $37.8 million

[NormsRevenge]

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[hoot2]

"."

[telebob]

My bet: Screw business. Tax the hell out of them. It's a done deal. Let's move on.

Lefties can't manage finances; they don't see any point in it. When ever they are in control, whether it's school boards, city councils or whatever, sound management principles go out the window and taxes go up.

For the children of course...

[Cobra64]

"San Francisco must make: whether to tax the rich"

I'd like SOMEONE to define the word, "RICH."

If my wife and I earn a combined income of 150k, have 3 children in college and have a 200k mortgage and pay 45k in Federal Taxes, am I RICH?

The word RICH is bullsh*t.

As an Economics teacher once told me, "How High Is UP?" "Is the glass half full, or half empty?" "Are you having a 'good day'?" These are relative terms.

[SiliconValleyGuy]

You're right. They're going to tax businesses until there is nothing left in CA but a slew of illegal immigrants wondering where to work.

Liberals still don't get it that businesses don't exist in a vacuum. Their success bleeds down to all of us.

[jocko12]

You ever hear of cutting spending.

[SiliconValleyGuy]

Why are you asking that of me? Ask it of the state of California. Actually, don't bother. They haven't.