Yea, that’ll end the worsening budget deficit all right {/sarc} – dry up consumption since people won’t be able to buy as much with a higher sales tax, and disportionately tax the poor, since sales tax hits them harder. It will, however, achieve the result of getting more taxes from the illegal immigrants. I’m beginning to pine for the days of Gray Davis (recalled gov of California) – this idea is horrible and will drive more businesses out of state. Schwarzenegger also wants to add sales tax to services, like labor on car repairs, etc. California already has the highest (or second highest after NY) state income tax – now we’ll be the highest sales tax. Good thing we’re thinking about retiring to North Carolina.
This really bothers me, and it should bother every Californian……especially those of us in the poorer counties! I’d like to know just exactly where he expects that $4.4 billion in tax hikes to come from! We are hurting for jobs here in the Central Valley, and he KNOWS it! People are losing their homes! The city of Los Banos is desperately trying to attract decent well-paying jobs here, but employers are taking a look at our tax structure and they’re saying “Forget it! Your taxes are too high for us to move to your city!” If I were an employer, I wouldn’t come here either, given the taxes the city wants them to pay! And it’s not going to be any different for the rest of the state, either! That money is going to have to come from someone else, because WE sure haven’t got it!
And California just voted for billions in bonds for high speed rail.
I suspect this state is going to be a major, major story in the next year or two. We’re simply out of cash, credit and tax base. It’s a shame a Republican is governor, because that means he’ll get blamed and the legislature will get off scot free.
[blockquote]It’s a shame a Republican is governor[/blockquote]
Barely…in name only as he really a billionaire Kennedy by his family and his policies. Our economy will sink like a stone and those who can afford it the least will pay the most. Oh right I almost forgot…It’s George Bush’s fault.
Intercessor
A recent study found that in ththis decade, 5k of the 25k top income tax payers have left the state, presumably for lower tax states. Their combined annual contribution was $8 bil, 1/2 of the $16 bil deficit.
Sidney, the hi-spd rail (Prop 1a) is a real scam. Buried in it is a “Well, if we can’t make this work, the money reverts to the General Fund” clause. No guarantee the money will ever be used for rail. Otherwise I might have voted for it.
And to top this off, he’s also talking of increasing the sales tax by 1.5%! We already have the highest sales taxes in the country, and he wants to raise it AGAIN? MY GOD, Arnie! STOP IT!
And raising the sales tax will just drive more people to buy online, trashing brick-and-mortar commerce. A member of the legislature told me last year that the state loses around 1-1.5 billion dollars per year to unpaid use tax (sales tax on items bought from out of state/on line). Since this is interstate commerce, a fix requires Congress, and apparently the amazon.com lobby has so far prevented that.
As a resident of California, I can tell you that Schwarzenegger is not considered a Republican, he’s barely even considered a RINO (Republican in name only) – he’s basically just throwing everything against the wall and seeing what sticks.
Sidney, it was in Sonoma County Biz about two months ago. Not online, unfortunately.
We need to remember that Arnold got the job because of the massive financial mess created under his (recalled) predecessor. A major cause was the massive giveaway of pension funds to state employees about 10 years ago. Economic crises create plitical opportunities, as is the case for Barack. But do you really want to jump into the middle of a disaster? (“Be careful what you wish for; you may get it.”)
Well Cennydd…I couldn’t agree more with you and to top it all off with Prop 2 passing all the chicken farmers will be put out of business or they will be taking their business out of this country and we will be getting our chickens from China…..Bring on the salmonella and other diseases! But…on the bright side…..with all those teenagers now legally able to go out and get abortions with out parental permission or notification due to Prop 4 passing there will be money to be made in baby murder! California….. home of the fruits, nuts, and flakes!
I wasn’t kidding when I said we’re hurting here in the Central Valley! And I’ve got a suggestion for our governor: Take some of that $4.4 billion from your family fortune (you know what family I mean) and help your people! We need it a lot more than you do!
Yea, that’ll end the worsening budget deficit all right {/sarc} – dry up consumption since people won’t be able to buy as much with a higher sales tax, and disportionately tax the poor, since sales tax hits them harder. It will, however, achieve the result of getting more taxes from the illegal immigrants. I’m beginning to pine for the days of Gray Davis (recalled gov of California) – this idea is horrible and will drive more businesses out of state. Schwarzenegger also wants to add sales tax to services, like labor on car repairs, etc. California already has the highest (or second highest after NY) state income tax – now we’ll be the highest sales tax. Good thing we’re thinking about retiring to North Carolina.
This really bothers me, and it should bother every Californian……especially those of us in the poorer counties! I’d like to know just exactly where he expects that $4.4 billion in tax hikes to come from! We are hurting for jobs here in the Central Valley, and he KNOWS it! People are losing their homes! The city of Los Banos is desperately trying to attract decent well-paying jobs here, but employers are taking a look at our tax structure and they’re saying “Forget it! Your taxes are too high for us to move to your city!” If I were an employer, I wouldn’t come here either, given the taxes the city wants them to pay! And it’s not going to be any different for the rest of the state, either! That money is going to have to come from someone else, because WE sure haven’t got it!
And California just voted for billions in bonds for high speed rail.
I suspect this state is going to be a major, major story in the next year or two. We’re simply out of cash, credit and tax base. It’s a shame a Republican is governor, because that means he’ll get blamed and the legislature will get off scot free.
[blockquote]It’s a shame a Republican is governor[/blockquote]
Barely…in name only as he really a billionaire Kennedy by his family and his policies. Our economy will sink like a stone and those who can afford it the least will pay the most. Oh right I almost forgot…It’s George Bush’s fault.
Intercessor
A recent study found that in ththis decade, 5k of the 25k top income tax payers have left the state, presumably for lower tax states. Their combined annual contribution was $8 bil, 1/2 of the $16 bil deficit.
Sidney, the hi-spd rail (Prop 1a) is a real scam. Buried in it is a “Well, if we can’t make this work, the money reverts to the General Fund” clause. No guarantee the money will ever be used for rail. Otherwise I might have voted for it.
#5 Bill, that’s an amazing study. I want to read it. Do you have a link?
And to top this off, he’s also talking of increasing the sales tax by 1.5%! We already have the highest sales taxes in the country, and he wants to raise it AGAIN? MY GOD, Arnie! STOP IT!
And raising the sales tax will just drive more people to buy online, trashing brick-and-mortar commerce. A member of the legislature told me last year that the state loses around 1-1.5 billion dollars per year to unpaid use tax (sales tax on items bought from out of state/on line). Since this is interstate commerce, a fix requires Congress, and apparently the amazon.com lobby has so far prevented that.
As a resident of California, I can tell you that Schwarzenegger is not considered a Republican, he’s barely even considered a RINO (Republican in name only) – he’s basically just throwing everything against the wall and seeing what sticks.
Sidney, it was in Sonoma County Biz about two months ago. Not online, unfortunately.
We need to remember that Arnold got the job because of the massive financial mess created under his (recalled) predecessor. A major cause was the massive giveaway of pension funds to state employees about 10 years ago. Economic crises create plitical opportunities, as is the case for Barack. But do you really want to jump into the middle of a disaster? (“Be careful what you wish for; you may get it.”)
Well Cennydd…I couldn’t agree more with you and to top it all off with Prop 2 passing all the chicken farmers will be put out of business or they will be taking their business out of this country and we will be getting our chickens from China…..Bring on the salmonella and other diseases! But…on the bright side…..with all those teenagers now legally able to go out and get abortions with out parental permission or notification due to Prop 4 passing there will be money to be made in baby murder! California….. home of the fruits, nuts, and flakes!
#1 priority should be sales tax on internet sales. Why should the brick-and-mortar, Mom-and-Pop shops be subsidizing this?!
I wasn’t kidding when I said we’re hurting here in the Central Valley! And I’ve got a suggestion for our governor: Take some of that $4.4 billion from your family fortune (you know what family I mean) and help your people! We need it a lot more than you do!