Posted on 02/08/2012 2:41:00 PM PST by NormsRevenge
SAN FRANCISCO (Reuters) - California voters this fall may have the chance to answer a question of deep interest to politicians around the United States: will populist appeals to "tax the rich" resonate more than pragmatic arguments for budget-balancing solutions?
Governor Jerry Brown, a Democrat, has all but staked his governship on a tax hike ballot initiative consisting of temporary increases in sales and income taxes. He has positioned the measure as a practical and necessary move to combat chronic budget deficits ..
By contrast, the California Federation of Teachers (CFT), the smaller of two statewide teachers unions, last week got the green light to pursue its own ballot initiative, the "millionaires tax," ..
In California, major policy issues often are resolved by putting the matter to the voters in the form of a ballot initiative ..
...
The governor has been campaigning hard for the measure, and polls indicate the public is at least open to the idea.
But the CFT, with 100,000 members, has already gained a key ally for its tax initiative: the 75,000-member California Nurses Association, which helped elect Brown in 2010 with bludgeoning attacks on his Republican rival, technology executive Meg Whitman.
The nurses mercilessly mocked Whitman for her great wealth, dubbing her "Queen Meg" ..
...
ASKING MORE FROM THE WEALTHY
California's top personal income tax rate is 9.3 percent - kicking in at $48,029 for individuals and $96,058 for couples - with another 1 percent charged on income of $1 million and up. The state income tax comes on top of federal income tax paid by Californians.
The millionaires tax measure would impose an additional 3 percent tax on income between $1 million and $2 million a year and an additional 5 percent tax on income above $2 million.
(Excerpt) Read more at news.yahoo.com ...
I like the Meg Whitman bit,, she’s easily gonna recoup her expenses for running for office over at HP as head honcho.
What a country.
We’re facing all kinds of tax hike votes, parcel taxes, temporary sales tax hikes and permanent too .. What is a taxpayer to do but revolt?
When is enough enough?
btw,, did you know over 700 pre-owned Volts are for sale on the web?
We need an initiative to have CARB disbanded and the members thrown in jail for grand climate change conspiracy.. or sumthin’.
No. Seizing money from the wealthy using the iron fist of government. There is no asking. It isn't a matter of getting the wealthy to agree to having higher taxes. It is a matter of the government taking more. The money seized with the permission of the "electorate" who didn't earn it. Mob rule. Any "wealthy" person with a lick of sense would be looking for greener pastures outside the state of CA. Make an exit before the state strips you of your assets.
California is a financial mess.
The only question I have is was this mess created by design or just total ignorance of the way economies work on the part of the Democrats?
Raising taxes will not solve the problem. There is not enough money in the world that will solve the problem. Socialism goes against human nature and that is really what is driving California’s financial problem right now.
Redistribution of income, from those that have to those that do not have. Where have we heard that before?
Raising taxes will not work for two reasons. One, the more money they give away, the more that will join the takers and will want their share.
And two, those that are paying will find a way to pay less or none at all (legally of course). The simple way is to just move out of the state. Even the Soviet Union with the iron curtain could not keep their people enslaved to the state. California can not build a fence to keep out illegal immigrants so it darn sure will not be able to build a fence to keep the productive citizen in the state.
I have no doubt with the help of unions and the media these new tax proposals will pass. I also have no doubt that they will not get as much money as they seem to think they will get.
I wonder if Hollywood will continue to stay in business or will they just take more of their business overseas or to Canada?
The wealthy do not hide their money in tin cans in the back yard. The money is used to buy things and to invest in business. If they end up with a negative income they will leave the state.
California is lost. Done. Finished. Beyond help. So, providing the Feds don’t subsidize them, all of us normal folks should just set back and watch the fun. In other words; who f*ckin cares!
As someone who lives in California I care.
However, I have been on the losing side of elections for 40 years. The Democrats, the media and the unions owned California.
I do hope the Federal Government does not try to assist California. The sooner California goes bankrupt, the sooner solutions to their financial problems can be put in place.
Of course California is just in front of the crowd. Where California is headed many are following.
The Socialist failed in the Soviet Union, they have failed in Europe and they are failing in this nation, but those that believe in “social justice” are still very powerful.
There is hope, simply because what they want is not possible sooner or later, reality will smack some sense into the people. Until then, hang on because we are going to have a bumpy ride.
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