Report: Gov’s tax plan will raise less than expected

Orange County Register ^ | January 9, 2012 | Brian Joseph & Martin Wisckol

[Fast Moving Angel]

Gov. Jerry Brown says his proposal to raise taxes will net the state $6.9 billion. The Legislative Analyst doesn’t agree.

In an analysis of the governor’s proposed ballot measure, the nonpartisan Legislative Analyst concludes the governor’s tax plan would raise only $4.8 billion during the first budget cycle.

[Fast Moving Angel]

Gee, is anyone surprised?

[umgud]

Smoke and mirrors.

[Kellis91789]

It shouldn’t be this complicated.

Lower the state’s sales tax from 7% to 4% but include all purchases. That will raise $10B more while giving a boost to brick & mortar stores in the state.

Eliminate the corporate profits tax and only tax individuals. At a flat 3% rate it would bring in more revenue than the current income tax.

If revenue and economic growth were Moonbeam’s goals, he’d do the above. Of course, his true goals involve creating dependent voters and class warriors instead.

[Fast Moving Angel]

his true goals involve creating dependent voters and class warriors instead.

Exactly. And can you imagine the outcry from the Occupooers if you eliminated the corporate taxes in favor of taxing individuals only, no matter the rate? And we haven't even addressed the illegal issue, either. That's what's playing a big part in bankrupting the state.

[CSM]

Unexpectedly of course.