Schwarzenegger seeks overhaul of state tax system

[flamingdem]

Source: Los Angeles Times




But the commission's proposals quickly came under fire from all sides, including labor unions and business groups. Among the criticisms were that the plan unfairly favors the very rich while potentially hurting California businesses and exporting jobs.

The reception from lawmakers was cordial at best. Legislative leaders who supported creation of the commission were conspicuously absent from Tuesday's news conference.

"This report coddles CEOs and millionaires while kicking California families to the curb," said Assemblywoman Noreen Evans (D-Santa Rosa), chairwoman of the Assembly budget committee.

The report, in fact, fell well short of universal endorsement from the commission itself, winning support from nine of the 14 members. Some expressed concern that California could set a dangerous precedent.

"This is playing out to an audience of revenue-starved states," said Richard Pomp, a University of Connecticut law professor and commission member who opposed the final proposal. "If California thinks it has found the Holy Grail, other states will follow. But the emperor has no clothes."


Read more: http://www.latimes.com/news/local/la-me-taxes30-2009sep30,0,682850.story

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That barbarian wants to lower taxes for the wealthy by $100.000 and the middle class by $3.00. Arnold is a pig. Why does Maria put up with him?

[xchrom]

1. schwarzennutz. nt

[CaliforniaPeggy]

2. I have no idea why Maria puts up with him...

Could it be she loves him? Dunno!

And at least we won't have to put up with him too much longer.

[atreides1]

3. You know what they say/

Love is blind, and it's also deaf and dumb!!!

[No Elephants]

13. She vouched for him when he was accused of groping. "I know this man."

Then he ended up admitting it anyway. Though, right before he said it was true, he said he wasn't true. One things actors REALLY get: people are easily fooled. Illusion is the foundation of SHOW business, and of Arnie.

[tomm2thumbs]

4. he's a complete amateur - anyone who has followed his governorship knows that

[flamingdem]

5. So today he says he'll support Obama's health care reform, but then he launches

this insane tax cut for the rich idea when California is bankrupt.

It's true, he's an amateur, a muscle head, can't even decide who he is loyal to due to the dumbell between his ears.

[tomm2thumbs]

9. +1

too much head mush from not enough brain challenges

love that avatar - spooky spooky

[No Elephants]

12. What ??!!! Despite all his political experience before he became Governor, he was an amateur?

Oh, wait. Before he became Governor he was a bodybuilder and fifth rate actor who groped women on the set.






never mind.

[Double T]

6. Would somebody in congress please begin the process of making colliefornia a seperate............

country.

[CaliforniaPeggy]

7. Not going to happen!

The country needs us too much...

:P

[flamingdem]

14. We pay out more to the Feds than we get back, so that is so true ! nt

[Mz Pip]

22. It's about 75 cents

to the $1. making that more equitable would make a huge difference.

Our tax system does need to be overhauled, but I don't think this is the way to do it. If we could repeal Prop 13 that might be a good place to start.

[Kablooie]

8. Now, ya see? This is just what I was talking about.

Oh wait a minute. I wasn't talking about this at all.

Nevermind.

[Rapier09]

10. Something needs to be done to change the state

I haven't read enough of his proposal yet but right now it seems to be just garbage.

We need real change.

[flamingdem]

18. It needs to be pumped up! nt

[bkohatlanta]

11. Government of the Vicious Rich, For The Vicious Rich, by the Vicious Rich

I read that a local county government(controlled by Republicans/Liberterians)was working with Real Estate Corps to help steal homes from distressed homeowners. Specifically, they would deliberately target homeowners in prime areas for home inspections to force them to sell to lowball offers from conglomerates. Mysteriously, the inspections and critiques would be withdrawn.
Strange.......

[Cleita]

15. Arnold is a crook. He even admitted that he and a friend used to

con home owners into repairs by pulling stuff apart and then offering to repair the damage they did for a price after one of California's earthquakes.

[CountAllVotes]

16. Ahnuld is a pig

:puke: :puke: :puke:

He cares nothing about the State nor the people of California!!! :mad:




:dem: :kick:

[flamingdem]

17. Send him bock tew AHSTRIA! (Maria can do better) nt

[Xolodno]

19. 18 replies....

And only one of them marginally commented on the proposal. The rest are all "Ahnuld is a <insert profane word>" and and optional "Maria should <insert wishful thinking>"

[Throd]

20. That is pretty typical when it comes to discussing California's financial morass.

Welcome to DU

[Xolodno]

23. Yeah....

..its a mess that has been long in the making by ineptitude, cowardice (sending bills to the voting public via propositions), and an endless supply of finger pointing.

[U4ikLefty]

21. You didn't "comment on the proposal" either.

What does that make you?

[Xolodno]

24. What does that make me?

Well, I didn't jump on the bandwagon of "Arnold is a poopy-head" either. Guess I'm just the play by play announcer.

[Odin2005]

25. That is fucked up!

:grr:

[Massacure]

26. This looks like a decent proposal.

Instead of an individual paying between 2 and 8 percent of their income, they are paying 2.75% up to $56,000. After $56,000, the tax rate becomes 6.5%.

There would also be a 4% net receipts tax for businesses with revenue over $500,000. A net receipts tax really isn't all that different than an income tax. Businesses are still effectively paying 10.5% on everything more than $500,000. The current rate is 10.3% on incomes greater than $1,000,000.

The sales tax would be done away with. Sales taxes are extremely regressive, this would be a good thing.

The proposal might not be perfect, but I could think of a lot worse ways for a state to raise revenue.