Posted on 12/14/2007 9:12:49 AM PST by goldstategop
Legislative leaders said Thursday that more taxes would be needed to fill a projected $14-billion budget gap next year, and the state Senate president said a healthcare overhaul -- Gov. Arnold Schwarzenegger's priority this year -- will have to wait.
Assembly Speaker Fabian Nuñez (D-Los Angeles) said lawmakers would have to consider raising a host of taxes, including those on Internet purchases and on foreign companies that do business in California.
"We've got to close those tax loopholes," Nuñez told reporters at a news conference. "We can generate billions by doing that."
Senate President Pro Tem Don Perata (D-Oakland) said some sort of tax increase would be necessary, mostly likely in a ballot measure for the public to consider. He said he doubted Republicans would provide the votes necessary for the Legislature to raise taxes.
(Excerpt) Read more at latimes.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Shouldn't be. They have things so good they are spending $14 billion a year more than they take in and the tax load is one of the highest in the nation (the marginal tax rate in CA is one of the reasons I shut down a successful local business there of 25 years and moved elsewhere).
And the deficit is only going to get worse the moment the economy slows down.
I would think that'd make 'em happier 'n a pig in, well, poop. They have what they've been aiming for. Preposterous taxes. Preposterous spending.
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Every new social program and public work in California is tainted by the $10 bill being spent on illegasl. I will never vote for another bond for any purpose until we stop the madness of providing inventives for people to come here illegally and I will lobby my rep to vote against every spending increase.
“We’ve got to close those tax loopholes,” Nuñez told reporters at a news conference. “We can generate billions by doing that.”
Hey idiot why not go to a flat tax?
Or, did you realize that, in California, upper middle class people get to keep 89% of their income? THAT'S A LOOPHOLE. Why don't they just close the gap between 0% and 89%?
The economy already has slowed down.
This healthcare for illegals plan would kill off a lot of business...and of course raise prices across the board. If you think $4.50 for coffee at Starbucks is bad, how about $10 for a plate at Panda Express?
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