Ezra Klein follows up on Michael Gerson’s debt limit negotiation reporting this morning adding:
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The debate about a California budget has been under way for many years while the budget has drifted in and out of solvency, mostly the latter. But the current phase of the legislative debate could be the beginning of the end of one particular segment of this particular year’s version.
The Democrats are poised to put on a big show to present their budget, including an extension of billions of dollars in temporary taxes that otherwise would expire.
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Gov. Jerry Brown’s recent talk to the California State Association of Counties was more meandering and disjointed than usual, but the governor stuck to his talking points: Unless California voters approve tax extensions, they must get used to greatly diminished public services. Without at least the tax extensions, he said, “we will get a radical restructuring of what we are.”
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President Barack Obama and two of his biggest union allies — the United Auto Workers and the United Steelworkers — plan to make the automotive bailout “a central issue” in the 2012 election, Politico reported. Republicans should welcome this as an opportunity to expose the ugly truth about the auto bailouts.
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No one expects any grand agreement to come out of the Peter G. Peterson Foundation Fiscal Summit today, but at least it should forever put to rest the liberal myth that the budget can’t be balanced with out raising taxes.
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This January Peter G. Peterson Foundation paid six think tanks $200,000 each to produce long-term budget plans that would reduce our nation’s debt. Today all six plan were revealed. You can read them here.
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The Associated Press posted a “fact check” of Tim Pawlenty’s May 23rd Iowa campaign speech yesterday and it is not up to their usual high standards. Below are segments of the AP report, followed by the truth:
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When California’s tax revenue began to increase, it complicated Gov. Jerry Brown’s months-long campaign for raising income, sales and car taxes.
Republicans went so far as to contend that with the revenue surge, the state’s budget deficit could be closed without raising taxes at all.
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Tech startups were offered some relief Tuesday with a six-year tax break on stock options if they go public.
The fact that The City’s 1.5 percent payroll tax also applies to stock options when a company goes public was recently thrust into the spotlight.
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It seems anything dealing with the Twitter tax break must result in controversy for Supervisor Jane Kim. Twitter and other companies who locate to the Mid-Market area and take the tax break must sign a community benefits agreement, in other words commit to spending money on area nonprofits.
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URL: http://www.sfexaminer.com/taxonomy/term/2222?page=3
