Gov. Jerry Brown has formally proposed a $7-billion-a-year increase in sales and income taxes to close the state’s chronic budget deficit.
Whether it will be the only tax increase on the November ballot is uncertain. Several others are in the works, and if they reach the ballot as well, voter confusion could doom all. But assuming that Brown’s stands alone, how would the campaign shape up? Read More
Gov. Jerry Brown wants to increase sales and income taxes in a quest to “find another $10 billion” in revenue. He will have to craft a plan soon to get it on the 2012 ballot. To help California’s struggling economy, any tax proposals should be rooted in sound economics, which appear to be lacking in the governor’s ideas.
When economists assess a state’s tax system, they look at three factors: tax burden, tax structure and tax distribution. California falls short in all three. Read More
‘I’ve been lucky enough to live in Silicon Valley for a while, and work for a small startup company quite well. So I’m unemployed by choice,” former Google director of consumer marketing and brand management Doug Edwards told President Barack Obama at a town hall in Mountain View last month.
“My question is: Would you please raise my taxes?” Edwards asked. Read More
‘Middle-class families shouldn’t pay higher taxes than millionaires and billionaires. That’s pretty straightforward.”
That’s what President Barack Obama said in his White House speech Monday on deficit reduction. It was even more straightforward than he seemed to think. Not only should middle-class families pay less than millionaires and billionaires, but in fact they already do pay less than millionaires and billionaires. Read More
As the deadline looms for filing your state and federal income tax returns, imagine a time when you get to pay a third income tax ... to the San Francisco treasury.
The state has long prohibited counties from levying their own income tax, but a bill from state Senate President pro Tempore Darrell Steinberg reintroduced Thursday would allow just that. Read More
Tax season is upon us. For the second year in a row, some residents will get much needed help with their returns.That’s because students at Burton High School’s Academy of Finance will help prepare tax returns for low-income city residents for free.Clinics to help residents with their returns will be held Monday and Wednesday from 4 p.m. to 7 p.m. at the high school, located at 400 Mansell St. Read More
From the Seattle Times:
Expect a push to seek voter approval in November for an income tax that hits couples earning more than $400,000 a year.
Bill Gates Sr. and others are expected to announce an effort Wednesday to put Initiative 1077 on the ballot. Read More