“Senate Democrats today plan to roll out a $4.9 billion package of tax hikes on cars, alcohol, income and corporate profits,” according to the Sacramento Bee.
According to a budget committee analysis, the Democratic 2010-11 plan includes:
— Suspending corporate tax breaks scheduled to begin Jan. 1 (worth $2.05 billion)
— Extending a 0.25 percent income tax surcharge that is scheduled to end Dec. 31. (worth $1 billion)
— Extending a $217 per dependent reduction in the state’s dependent income tax credit, also scheduled to end Dec. 31 (worth $430 million)
— Raising the vehicle-license fee from 1.15 percent to 1.50 percent of estimated value starting July 1 of this year (worth $1.2 billion)
— Increasing the state’s alcohol tax by an inflation-adjusted amount; these rates currently remain at 1991 levels (worth $210 million)
What a shock, no one could see this coming (insert sarcasm here). I guess those Republican frauds who got their “courage” award last week were wrong. The largest tax increase in history and they still want more. When will the dullards that keep voting these people into office wise up and throw the bums out?
http://articles.latimes.com/2008/feb/26/opinion/oe-stall26/2
Even Reagan raised taxes
February 26, 2008|Bill Stall, Bill Stall is a contributing editor to Opinion.
(Page 2 of 2)
Reagan ended up approving a $1-billion tax increase on a $6-billion annual budget, which was, proportionately, the biggest tax increase in state history. It left a fat treasury for his successor, Jerry Brown, but much of that was doled out to cities and counties to make up for property taxes slashed by Proposition 13. (The state got that back later by grabbing more than $1 billion of local revenues. The locals, of course, raised their own taxes to make up for the loss.)
Reagan not only raised taxes, he did it during a recession. Cutting services means cutting jobs. Calworks? Keep cutting and that means less jobs, because people won’t be able to work, those child care workers will lose their jobs and it means billions less in Federal matching funds.
That’s the last thing the State needs right now is to be forcing MORE lay offs. We have cut for the last two years and yet we still have a huge budget shortfall. It’s not all black and white.