Posted on 11/20/2011 8:16:51 PM PST by Steelfish
Billionaires, Insiders Plan To Place $10-Billion Tax Hike On 2012 California Ballot Acting as the Think Long Committee, they want to change the tax system to increase money for public schools and universities and for local governments.
By Anthony York, Los Angeles Times November 20, 2011 Reporting from Sacramento— Joining the battle over California taxes, a group of billionaires and political insiders say they will place a $10-billion tax increase on the November 2012 ballot.
The Think Long Committee, which includes Google Chairman Eric Schmidt, former governors Gray Davis and Arnold Schwarzenegger and Los Angeles philanthropist Eli Broad, says its proposal would provide $5 billion more for public schools every year and billions for public universities and local governments.
Although the group has prepared a report outlining its proposals, it has not taken the preliminary steps needed to place the ideas before voters. Members have not filed any potential initiatives with the state attorney general's office or created a campaign committee to finance such an effort. A spokesman for Think Long said those moves would come in the next couple of weeks.
The group's plan is based on a reshuffling of California's tax system. It would lower the state's personal income and sales tax rates and create a new levy of more than 5% on services that are not currently taxed, such as legal work or accounting.
(Excerpt) Read more at latimes.com ...
Tax on services like legal services included!!!!! CA screwed by left-wing billionaires
Nobody is talking about eliminating the expense of the illegals. The rich value their cheap labor.
If they want to increase the revenue in CA..they will need to get it from the middle class that is dying now.
No where in their imagination is the possibility of increasing the pie by getting rid of the unnecessary rules and regulations.
This damn state continues to swirl around the bowl. Or is that bowel. Unfortunately I have an economic stake in it.
Once an economic miracle and now brought to near death by the economic cancer of liberalism.
FUCA!
Think Long Committee
Yeah, throwing more $$$ at a failed public school systeme sure is ‘thinking’ alright . . . Schmidt, Davis, Arnie . . don’t they have enough personal issues to worry about?
Being the lefties they are the LA Times uses “accountants and lawyers” as examples of services that would be subject to taxation—things most people don’t use much. Left unsaid are all the things people use a lot—home repair, car repair, barbershops, gardeners, medical services, etc.
Go ahead. Knock yourselves out.
Why not raise $10 billion more?
Why not raise $25 billion more?
Spend it on the schools, the collegs ... you should have the smartest most productive people on the planet in no time.
Part of this proposition should be to require the bass turds pushing its passage to release THEIR tax returns to the public EVERY YEAR. I’d bet we’d find every one of them have ways to beat the system and not pay any taxes.
And Google boy (on the right) looks like he's in his 60's what is he now, 30-something? These effing college kids excel at technical skills yet they soak up all the Grammsci/Alinsky socialist garbage their liberal arts "perfessors" teach them unquestioningly.
You are so absolutely correct!
Its DOA. I’m sure it’ll be marketed as “all for the children.” Voters here in Colorado this month buried tax hikes for the schools. Those billionaires are stuck on stupid. In a recession, its the very worst time to increase taxes. Good luck with it!
the californicate is broke.
governor brown was governor for 8 years decades ago; he unionized state employees.
today, these unions and their pensions,
and illegals’ healthcare and education
have ruined the state.
Oh, good grief, those items are getting plenty of funds through property taxes (which include a number of bonds & taxes that voters have added to the original bill)
The basic problem is California voters have little appetite for higher taxes. The schools are just mismanaged and despite billions spent on them, California scholastic achievement is about the national average. There is no correlation between increased revenues and educational quality. What are Californians going to get for higher taxes for the kids? The promoters don’t say. They face tough sledding with this proposed initiative.
Pension, tenure, unions, & votes, votes, votes!
Come on drones! Its modern day bread & circuses writ large -with your money
Any new tax scheme which raises an additional $10 billion means that we are paying #10 billion more. And that money goes into the same union created waste hole.
Throwing good money after bad. They get lotto money too. Dismantle the whole public ed system. A CA Initiative for vouchers went down the tubes several years ago,
Why don’t they simply turn over enough of their personal fortunes so that they’re no longer “billionaires”? That would almost assuredly raise $10 billion (or more) without having to extract a single extra cent from the already over-taxed working folks.
Idiots.
Unfortunately, according to a recent poll a large majority of Californians were willing to vote for higher taxes to fund schools.
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