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Calif. Democrats propose nearly $5B in new taxes

Crunch

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By JUDY LIN (AP) – 19 hours ago

SACRAMENTO, Calif. — Democrats in the state Senate on Monday countered Gov. Arnold Schwarzenegger's proposed budget cuts with a plan to raise taxes by nearly $5 billion, largely by extending temporary taxes and delaying corporate tax breaks for two years.

During a Senate subcommittee hearing, Democrats said they want to delay the start of corporate tax credits demanded by Schwarzenegger and Republicans last year to secure enough budget votes. Their plan also would extend by two years the temporary increases in the income tax and vehicle license fee that were approved last year.

Democrats proposed raising the tax on alcohol but would allow a temporary 1 cent increase in the state sales tax to expire at the end of the year.

Schwarzenegger proposed no tax increases in his latest plan to close California's projected $19 billion budget deficit, relying mostly on spending cuts.
The Associated Press: Calif. Democrats propose nearly $5B in new taxes

Hopefully The Terminator will use his cybernetic veto pen to hold the Liberals feet to the fire.... they either cut back on the spending now, or pay a very heavy price down a very short road.
 

mike2810

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Actually. Let the Dems pass it. See how many stay in the State then (business or just people)
 

Deuce

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TurtleDude

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Many industrious people are leaving that state. I have a friend who is a world famous archer who runs a company that makes high quality hunting and target arrows. He moved his shipping and distribution operation back to his home city in the MW to avoid lots of the idiotic taxes the Kalifornia parasite state seeks to suck from business owners.
 

Deuce

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Many industrious people are leaving that state. I have a friend who is a world famous archer who runs a company that makes high quality hunting and target arrows. He moved his shipping and distribution operation back to his home city in the MW to avoid lots of the idiotic taxes the Kalifornia parasite state seeks to suck from business owners.
If California is such a terrible environment for business why is it basically a world business capital?
 

Aunt Spiker

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If California is such a terrible environment for business why is it basically a world business capital?
Have you been to California.

OMG - the place is goddamn gorgeous.

:shrug: That's the only reason why I see anyone would want to live there or create a business there :mrgreen:
 

Deuce

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Have you been to California.

OMG - the place is goddamn gorgeous.

:shrug: That's the only reason why I see anyone would want to live there or create a business there :mrgreen:
I've been there, spent time on the beaches enjoying the...scenery... if that's what you mean! :mrgreen:
 

Aunt Spiker

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I've been there, spent time on the beaches enjoying the...scenery... if that's what you mean! :mrgreen:
If you had a choice of any state to locate your new business in - wouldn't it be on your radar purely for the . . . scenery . . . yeah?
 

Deuce

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If you had a choice of any state to locate your new business in - wouldn't it be on your radar purely for the . . . scenery . . . yeah?
If "scenery" was the primary driver I'd go with Iceland. Hands down.
 

TurtleDude

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If California is such a terrible environment for business why is it basically a world business capital?
History. For years it was a great state. It's declining

Detroit was a world center of manufacturing for decades too
 

Orion

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At the current debt levels, you need to raise taxes and cut back services. At least they got it half right. Now if they would just show some guts and do the other half already, CA might be saved from financial doom.
 

TurtleDude

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At the current debt levels, you need to raise taxes and cut back services. At least they got it half right. Now if they would just show some guts and do the other half already, CA might be saved from financial doom.
Is it your claim that raising taxes will necessarily result in raising revenues?
 

Orion

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Is it your claim that raising taxes will necessarily result in raising revenues?
Are you blind?

It is my claim that cutting services and raising taxes is the only way to deal with the impending economic crisis, not only in CA, but your entire country.

It's the one thing that politicians are afraid to do because it will mean instant death to their career; but if most politicians could get behind it, it wouldn't be such political suicide. Your country must take that route to survive.
 

zimmer

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Many industrious people are leaving that state. I have a friend who is a world famous archer who runs a company that makes high quality hunting and target arrows. He moved his shipping and distribution operation back to his home city in the MW to avoid lots of the idiotic taxes the Kalifornia parasite state seeks to suck from business owners.
I know a business buddy who is seriously contemplating three SWestern states to relocate his business. That's another 150 or so jobs down the crapper for SoCal if he departs.

It used to be a business friendly state, now it is business hostile and up to its eyeballs in debt.

.
 

zimmer

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Are you blind?

It is my claim that cutting services and raising taxes is the only way to deal with the impending economic crisis, not only in CA, but your entire country.

It's the one thing that politicians are afraid to do because it will mean instant death to their career; but if most politicians could get behind it, it wouldn't be such political suicide. Your country must take that route to survive.
Half correct.

You need to cut taxes and regulation to spur growth, jobs and tax revenue, otherwise that money will flow to business friendly regions... or it will sit untouched in safe havens.

JFK (R-MA) knew this:

"It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now ...

Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus."

John F. Kennedy
Nov. 20, 1962, president's news conference​
Also supported by the following where the reporter schools Obama, and Obama does what he often does... dismisses the facts with a wave of the hand.

YOU ONLY HAVE TO WATCH THE FIRST 30 secs.

YouTube- Obama: Raise Taxes, Capital Gains - "For Purposes of Fairness"

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