Posted on 09/20/2009 9:27:47 PM PDT by Stayfree
State fiscal experts agree generally that California's revenue structure relies too heavily on the wealthy and the whims of the stock market while failing to capture taxes from the now-dominant service sector.
(Excerpt) Read more at google.com ...
Invariably, that means the tax-payer is about to take another hit.
BOHICA...
the wealthy are already moving out of California in droves...this will help speed up the middle class exodus...
“Service sector?” (SEIU?) This is gonna be great. Gotta go make some popcorn!
Send a bill to Mexico for the cost of educating and healthcare of Mexican citizens.
Well lest get the illegals to pay something, put a surtax on tortillas as a “fattening” food.
yep BOHICA
The super rich who pay no real taxes through municipal bonds or have trust funds and stuff will be the friends of the rulers while everyone else will be dirt poor.
3rd world status
They used to tell us that if California were a nation it would be one of the wealthiest nations on Earth. Pretty soon it will look more like Guatemala.
If the CA pols could just figure out how to get enough money from us, they could solve all our problems.
Yeah, it has nothing what so ever to do with spending more than you take in. /SAR
They won’t go near that...all those programs for all those “poor” —how can they eliminate these—you racists.
And, the gazillion agencies that help the poor.....just need to find someone to TAX.
It now down to tenth.
All they need to do is put a heavy tax on illegals and their anchor babies. That will cure California’s finances in short order.
I think the real numbers are even worse. I think it will keep getting worse too.
Squanderers with pensions trying to appease unions...
““Service sector?” (SEIU?)”
No, they mean adding sales tax on labor in construction, auto repair, all home services landscaping, etc. which is exrmpt now.
Anything you pay for that involves labor will have sales tax added plus overhead plus profit.
No business ever paid a tax!!!!
Well....they both speak the same language.
Nam Vet
At this point CA aspires to be as wealthy as Guatemala.
CA is headed towards a hispanic version of Zimbabwe.
true. =o)
Ouch. Can we build a wall around them? I bet we can use Mexican labor.
This blogger wrote a very good but depressing analysis of CA’s future.
http://www.oftwominds.com/blogaug09/california08-09.html
Adopt the 2000 budget and the deficit is gone.
IOW, quit spending so danged much money!
Hey Kalifornia, why don’t you drill for natural gas and oil that is sitting offshore. The activity will generate construction type jobs and revenues. Instead you want the feds to bail you out and plan to rape the middle class. Oh Gauwd, I should not have said rape, someone in SF is going to get excited!!!!!!
LOL. California: “The problem with our economic model is that we aren’t taxing enough people. We need to hit the service sector hard. These bitches have been getting a pass. If you want your hair-cut or your lawn mowed, it’s going to cost you more. You need to pay your fair share. We have squeezed the rich for too much, but will continue squeezing them anyway. Nevermind our spending, our voters need all those things and we need their votes. Sorry for the breakdown in government and the economy. We were once the greatest State in the nation, but now are only a laughing stock. Bend Over and be prepared for more, you morons. We call you that only because you keep electing us to represent you. Until you wise up, California is plucked.
Their voter base is going to get hit the hardest and they are the ones that can least afford it.
Get your car repaired, your hair cut, any repairs on your home, or anything else that has labor involved will pay at least 10% more after overhead and profit is added to the 8.75% current sales tax.
“the wealthy are already moving out of California in droves”
What do you mean ARE?
They’re ALREADY GONE, unless they have a GOVT JOB.
From the article, “In place of the state sales tax and corporate tax, the commission will recommend a new business tax similar to one that some commissioners say is used in Europe.”
That’s what we need to be more like Europe, high taxes, free medical for all, high unemployment and a high immigrant welfare class. Oh wait it’s too late we (CA) have all this already.
Any time a government body decides to carry out tax reform to make it more fair to me, it costs me more money!
Your wrong. Read the article.
Sales tax would be eliminated, and income taxes would be capped at 6.5%.
This is a good plan and Republicans should get on board.
That’s why Jean Ross, “executive director of the California Budget Project, a Sacramento-based nonprofit that advocates for lower- and middle-income families” whines that:
“This is taxing groceries to finance tax cuts for millionaires and taxing child care so oil companies don’t have to pay a corporate income tax,”
Read the article. It eliminates Sales tax and lowers income taxes. I would rather pay a tax on net receipts for services.
Tennessee has no income tax but charges sales tax on labor at the same rates as materials.
That’s not what the article in our paper this morning said.
“I would rather pay a tax on net receipts for services.”
No business ever paid a tax of any kind!!!
Screw the state just eliminate 90% of all services and fire all the employees that run them!
Also. when has a Dem politician ever lowered taxes? When has a Dem politician ever help out the middle class taxpayer? I can't think of one time. If you can please let me know, my mind is a bit overwhelmed with the Dems 3 trillion dollar deficit soon to be upwards of $10 trillion.
Fixed.
thank you.
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