Posted on 12/26/2002 11:25:09 AM PST by NormsRevenge
Edited on 04/13/2004 3:30:05 AM PDT by Jim Robinson. [history]
WERE California a private business, it would be in bankruptcy court and its leaders would be on their way to jail.
They should be.
California's mess is a capital political crime that more than just tarnishes the Golden State.
The Sacramento gang has created a fiscal mess more than 20 times worse than anything Congress could manufacture.
(Excerpt) Read more at bayarea.com ...
WHERE was all this outrage about the state deficit before Gov. Gray Davis was re-elected? Here is a man who signed exorbitant contracts with power producers before giving consumer conservation a chance to work (and it did work), beginning the plunge into a serious deficit. He is the man who was repeatedly accused of showing favoritism to campaign contributors. Now, after the election and the ``surprise'' announcement is made that the deficit is even worse than originally thought, people are expressing outrage?
Anyone with any common sense should have seen this coming. It is disgusting that the budget consequences were hushed up until the election was over, and now we're being warned about tax increases.
I suggest the people of California send a strong message to the Legislature and governor: We want the state to live within its means like we have to do. That means tightening the belt when times get tough, and saving money when times are good. There is no endless supply of money in this state, and until our government realizes it and changes its philosophy and priorities, the situation will continue to degrade.
Mark Thomen
San Jose
And the Florida sales tax is 6%, and Texas 6.25% as opposed to Califonia's 7.25% plus a max 9.3% income tax rate. Plus gasoline sales tax, capital gains tax, yada yada yada.
calgov2002:
calgov2002: for old calgov2002 articles. calgov2002: for new calgov2002 articles. Other Bump Lists at: Free Republic Bump List Register |
I'd like to consider returning to California to retire. I love the N. Californian coastal region.
But politics and finances rule it out. I'm not going to voluntarily turn over my retirement income to the hopeless liberals who are ruining that state.
This was kept very quiet during the election but the ka-ka is about to hit the fan as Ca. sellers are hit with this tax.
To put this into terms that all can understand, if you sell a house for $250,000 your tax, taken out of escrow, will be $8,125.
The Commies have arrived.
The basic sales tax in CA is 7.25%. There are special districts in some areas, which sends it as high 8.25% in some places (Los Angeles for one).
Luckily for your retirement, CA was thwarted in its schemes to tax your retirement benefits even if you moved out. At one time they were arguing that "they earned their retirement while working in the state, so we're entitled to tax it regardless of where they go afterward." The courts slapped that one down, thank God. It certainly shows where CA's head is at when it comes to hoovering every last dime out of our pockets.
I think this is the witholding of potential capital-gains taxes for non-primary residences that you're thinking of. It's supposed to be for purposes of collecting the capital gains taxes on any profits from the sale, and not a new tax unto itself. It's also a windfal for the state, in that if there are no capital gains, the state still gets free use of the money until you file your tax return to get the refund.
CA law says you can't start a recall until the politician has been in office for at least 6 months. Since Davis was just reelected, we're stuck with him until at least June. As he's shown by his past actions, he can do a lot of damage in that amount of time, particularly with a Democrat legislature cranking out legislation like maniacs (something like 163 bills introduced in the couple of December days they were back in session right after the election).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.