Tax The Rich: Says Brown….

[The-Shoveler]

[quote=flu]But then again, IF we have a housing recovery, I think a lot of issues go away…One thing is once people start paying their property taxes again, at least at the local level, more dollars come in…

It will be interesting to see in the next couple of months what will happen.[/quote]

There, someone else said it !!

If housing (home building) recovers, these problems go away fairly quickly for the most part,

Did anyone talk about the State budget problems in 2005 ?

Just saying (what most don’t want to hear).

[profhoff]

Any details on the “graduated” increase in state income tax for earners in the $250,000+ category?

[enron_by_the_sea]

[quote=profhoff]Any details on the “graduated” increase in state income tax for earners in the $250,000+ category?[/quote]

http://ballotpedia.org/wiki/index.php/California_Sales_and_Income_Tax_Increase_Initiative_%282012%29

From the link
[quote]
Raises California’s sales tax to 7.5% from 7.25%, a 3.45% percentage increase over current law. (Under the Brown Tax Hike, the sales tax would have increased to 7.75%)
Creates three new high-income tax brackets for taxpayers with taxable incomes exceeding $250,000, $300,000, and $500,000. This increased tax will be in effect for 7 years.

Imposes a 10.3% tax rate on taxable income over $250,000 but less than $300,000–a percentage increase of 9.71% over current policy. The 10.3% income tax rate is currently only paid by taxpayers with over $1,000,000 in taxable income.

Imposes an 11.3% tax rate on taxable income over $350,000 but less than $500,000–a percentage increase of 17.7% over current policy.

Imposes a 12.3% tax rate on taxable income over $500,000–a percentage increase of 24.39% over current policy.

[/quote]

[profhoff]

I’m a registered Democrat, but I’m disgusted. These increases aren’t going to solve the problem. Maybe it’s time to start cutting wasteful spending and chop some of the social services benefits, welfare, prison spending, union payoffs, etc. Oh, wait, I’m preaching to the choir.

I know the polls suggest majority support for this tax initiative, but I really wonder if people will actually vote for it when the time comes.

Blog sentiment is telling. Most posts say “Enough already. Just cut!”

[jstoesz]

There seems to be a serious disconnect between the news articles crying austerity and cutting to the bone, and the actual budget numbers. Even a lower budget (yet still an increase yoy) than an outlandish expected increase is met with cries of teacher and firemen starving in the streets.

Reminds me of a classic quote, “Who are you going to believe, me or your lyin’ eyes?” Groucho Marx

[sdsurfer]

[quote=profhoff]I’m a registered Democrat, but I’m disgusted. These increases aren’t going to solve the problem. Maybe it’s time to start cutting wasteful spending and chop some of the social services benefits, welfare, prison spending, union payoffs, etc. Oh, wait, I’m preaching to the choir.

I know the polls suggest majority support for this tax initiative, but I really wonder if people will actually vote for it when the time comes.

Blog sentiment is telling. Most posts say “Enough already. Just cut!”[/quote]

I just read through this topic and I’m disgusted too. I not a big political guy, but it seems that the whole idea of saving in order to have money to spend when you need it is gone. People just want to spend spend spend…then figure out where to get more money to spend.

I learned everything about money from my grandfather that said to spend at least one dollar less than you make in a given month. Try to save more whenever possible, but make sure you never spend more than you earned that month.

It’s just about living within your means, but it seems most people/govnts do not understand that.

I feel like the polls are never right because they word those things in a way that they answer the questions for you. Then they come out and say “Yes, 99% of voters agree that children deserve the opportunity to learn”, but then they leave out the part that those same people do not want to increase their taxes to foot the bill for whatever the someone that put the poll together deems “necessary” in order for a child to learn.

Is’nt there any sort of business minded person that can somehow create some revenue in this great state without taxing the people to the point they want to leave?

I mean seriously…raise taxes? is that the best you can do to solve the spending problem? How long did it take to come up with that one. Is that why we hired you for this job Jerry? To find the most obvious way in the world to raise money. Sorry bud…you fail. Go back to business school and learn something new before you present any more grand ideas.

[Coronita]

I saw this comment posted on a blog.. So sad but true…

[quote]
The Secret Service scandal was discovered when a disagreement on how much a prostitute wanted for her services came to light. She wanted $800.00. The Secret Service Agent offered $30.00. How ironic is it that the only person in Washington, willing to cut spending, gets fired?
[/quote]

[ucodegen]

[quote=enron_by_the_sea][quote=harvey]The Mercury News article is a bit confusing on the K-12 numbers:
[/quote]

I agree it is confusing. You can go to the source (gov.’s proposal) linked there

http://www.docstoc.com/docs/120484452/Gov-Jerry-Browns-May-Revise-of-California-Budget-2012-12%5B/quote%5D
Please don’t feed docstoc.com. They take other people’s docs and then ‘rehost’ them, wanting your Email addr for marketing, other other refs for the same. They really don’t contribute anything, and they don’t compensate the creators of works they rehost. Actual source of info is at:
http://www.ebudget.ca.gov/pdf/Revised/BudgetSummary/FullBudgetSummary.pdf

Note on docstoc:
http://download.cnet.com/Docstoc/3000-2064_4-10844330.html

[paramount]

[quote=sdsurfer]

Is’nt there any sort of business minded person that can somehow create some revenue in this great state without taxing the people to the point they want to leave?

I mean seriously…raise taxes? is that the best you can do to solve the spending problem? How long did it take to come up with that one. Is that why we hired you for this job Jerry? To find the most obvious way in the world to raise money. Sorry bud…you fail. Go back to business school and learn something new before you present any more grand ideas.[/quote]

Yes, and here is the solution (to all of these problems):

1. Drastically reduce state/local gov’t worker benefits/salaries

2. Reduce the number of state/local gov’t workers through privatization

3. Make California a more business friendly state through deregulation – get rid of these BS boards (staffed with Sacramento political goons) that stand in the way of business development.

In other words, start deregulating.

4. Reduce taxes in the state, do not raise taxes

5. Severely curtail entitlement programs

6. Take away collective bargaining for public employee unions

7. Make the assembly part time and drastically reduce their per diem and benefits/salaries

California should declare bankruptcy if necessary to achieve these goals.

[SD Realtor]

Could not agree more Paramount. The ONLY way to get leverage and renegotiate with ALL CREDITORS including organized labor (public and private) is through bankruptcy.

This is what the city of San Diego should have done and it is definitely what California should do.

This problem is not going to go away.

Guess what, if the state raises 16B in revenue then it will spend 32B shortly after.

[profhoff]

This is just sickening and heart-breaking. I’m a second generation Angeleno whose grandparents on both sides moved here early on in search of better lives.

I went to the same high school that my parents met at, even had some of the same teachers! I was educated in the UC system, as were all of my siblings, and I’ve returned after years away, joining that same system again as a professor.

I don’t recognize the state I grew up in and it’s not just the traffic jams. A few years ago, I thought it would all work out, but now I’m not so sure anymore.

The system is broken and I don’t think anyone has the motivation to fix it.

[mike92104]

[quote=paramount][quote=sdsurfer]

7. Make the assembly part time and drastically reduce their per diem and benefits/salaries

[/quote]

I think this deserves a lot of consideration. Let’s stop paying these d*bags a year long salary to dream up new ways of spending other people’s money. In Texas they only meet for 140 days every OTHER year.

[Coronita]

[quote=mike92104][quote=paramount][quote=sdsurfer]

7. Make the assembly part time and drastically reduce their per diem and benefits/salaries

[/quote]

I think this deserves a lot of consideration. Let’s stop paying these d*bags a year long salary to dream up new ways of spending other people’s money. In Texas they only meet for 140 days every OTHER year.[/quote]

I was about to mention this about Texas. I have a friend that attended a tour of recently. And as much as we like to say crap about Texas, I got to say. The folks that serve in government really do have real jobs outside, because their government meets every other year.

[Coronita]

[quote=SD Realtor]Could not agree more Paramount. The ONLY way to get leverage and renegotiate with ALL CREDITORS including organized labor (public and private) is through bankruptcy.

This is what the city of San Diego should have done and it is definitely what California should do.

This problem is not going to go away.

Guess what, if the state raises 16B in revenue then it will spend 32B shortly after.[/quote]

But as long as they can continue to raise more taxes, BK isnt on the table.

[Ricechex]

[quote=meadandale][quote=flu][quote=Hobie]Note to self, pre retirement, buy out of state RE attractive to California tastes. Honey, pass the brochure on Reno land. ;)[/quote]

Oregon isn’t bad you know. If you don’t mind the rain.[/quote]

Oregon isn’t bad…except for the Oregonians. I know too many people from Portland who are exactly like this:

http://youtu.be/l2LBICPEK6w%5B/quote%5D

That video was hilarious. Thanks for posting. Never been to Oregon, but planning to go to Portland over Labor Day Weekend.

[Author]

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