Finally a tax that Democrats don’t like
The state would repeal its sales and corporate taxes, flatten the income tax rate, and tax a wider variety of businesses under Tuesday’s recommendations from the Commission on the 21st Century Economy. It would include a nearly unprecedented “business net receipts tax” that would apply to all companies doing business in California, including many based in other states.
Gov. Arnold Schwarzenegger immediately endorsed the proposal by the tax commission he created with Democratic legislative leaders a year ago. He called lawmakers into special session, asking them to approve the plan this year.
Assembly and Senate leaders said legislative tax committees would hold hearings to review concerns raised by the business community and advocates for middle-class families and low-income workers.
“Californians deserve a fair and full assessment of the ways these recommendations would affect them — whether positive, negative or neutral,” Assembly Speaker Karen Bass, a Democrat from Los Angeles, said in a statement.
If this was an additional tax instead of a replacement I would bet that the opposition would be much less, but that is just my cynical nature at work.
Not much else out there that has caught my attention.
The Classic Liberal rounds up a number of economists that predict a devestating economic collapse, and helpfully provides links to an extensive survival checklist.
BTW – I missed a link to TCL yesterday. I was discussing his partisanship post and missed linking it. Here is the link and I will also add it to yesterdays post.
Teamsters to Transvestites? Transsexual falls into that range and frankly I am a little offended. Because of my gender identity I am incapable of evaluating issues and reaching my own conclusions and then aligning myself with the group that best represents my views? That is the implication. Let’s not get too full of ourselves here Mr. McQuain, like the Dems the GOP is also a collection of special interests in which common ground may be hard to find. That’s why Ronald Reagan used to refer to the big tent. (I’m not really that offended🙂. Over the years I have developed a pretty thick skin but I felt like the point had to be made)