Skip to comments.Group submits signatures for California business tax change on November ballot
Posted on 05/05/2012 9:20:31 AM PDT by SmithL
The stage was set Friday for three revenue-raising measures to qualify for the November ballot after a group led by hedge-fund manager Tom Steyer submitted more than 900,000 signatures for a tax increase on out-of-state businesses.
Proponents of two other tax initiatives, driven separately by Gov. Jerry Brown and civil rights attorney Molly Munger, said they have collected more than enough signatures to place their proposals before voters.
The measures would generate billions in revenue for a state rocked by recession and cuts to education and public services in recent years.
But Mitch Zak, spokesman for a coalition opposing Steyer's initiative, predicted that Californians will reject all three.
"Our belief is that the people of California are going to end up sending one loud, clear and unambiguous message that higher taxes are not the solution to California's economic woes," Zak said.
(Excerpt) Read more at sacbee.com ...
More California delusion ...
Mitch Zak is delusional. The lefties will vote for all the new taxes. Of course, fewer businesses will stay in CA & their tax revenues will plummet, thereby making the budget situation worse. But will the lefties learn? No.
Unfortunately, we have our own lefties here in OR with the same game plan in mind.
This is very interesting to watch.
Kali’s death spiral continues and the spiral gets tighter.
My sympathy to all FReepers living in CA. May you soon see a way out of this mess.
The last attempt at raising taxes was voted down.
...a group led by hedge-fund manager Tom Steyer submitted more than 900,000 signatures for a tax increase on out-of-state businesses.
I wonder what would happen to CA’s projected windfall of tax revenues if other, out-of-state businesses did the same?
Steyer runs Farallon Capital Management, a multi-billion dollar hedge fund which just happens to have a very large holding in a company called Nalco Holding, which Farallon has been accumulating at a respectable rate.
Here is how Nalco Holding introduces itself on it’s website which can be found here.
‘Nalco is an Ecolab company. With 2011 annualized sales of $11 billion and more than 38,000 employees, Ecolab Inc. (NYSE: ECL) is the global leader in water, hygiene, energy technologies and services, that provides and protects clean water, safe food, abundant energy and healthy environments. Ecolab delivers comprehensive programs and services to the food, energy, healthcare, industrial and hospitality markets in more than 160 countries.’
And now here comes Steyer with an initiative to send half a billion dollars to schools and green building projects? Look at that introduction again.
Nalco is PERFECTLY positioned to soak up hundreds of millions of dollars of government contracts, and Steyer will be right there stuffing his pockets. because Farallon will be riding that wave to untold riches
Always follow the money......
I think the in state businesses ought to do the same, then move out.
How nice of you to cast aspersions on the mindset of California voters from Oregon.
The actual voting pattern of CA is NO to new or higher taxes and yes to borrowing via bond measures.
I’m happy to cast aspersions on folks who regularly show their idiocy. CA wouldn’t be in the trouble it is if they showed any sense when voting. And we have the same leftist idiots here in OR (a good many transplants from CA) who are happy to vote for higher taxes ON EVIL BUSINESS (disregarding the negative consequences of such actions). They’re less likely to do so when it will hit their own pockets.
Maybe I’ll be pleasantly surprised if they vote no. We shall see...