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California’s business tax burden is talked about a lot but most of the debate is based on rhetoric as opposed to empirical research. The business community and lawmakers from both parties, particularly the California Republican Party, have made repeated claims that California businesses are heavily overtaxed.
Updated for the California Working Families Policy Summit 2010 February 25, 2010
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With the state facing a current deficit and ongoing yearly deficits of $20 billion, the survival of basic services and a healthy public sector is at stake. To address this looming future, the burden of recovery must be shared fairly—in contrast to the current path by which public services, the poor and education have taken the largest cuts and the middle-class has borne the increased tax burden.
The following summarizes 10 measures which will spread the burden in a way which arguably have a minimal impact on economic growth and recovery. These include eliminating new loopholes recently opened, taxing untaxed windfalls, ending tax breaks with no benefits, imposing taxes on the very rich, and increasing sin taxes.
Since a discussion of tax politics begins and ends quickly in the Capitol, let’s try talking economics instead.
Originally posted by Capitol Weekly
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With the state facing a current deficit and on-going yearly deficits $20 billion, the survival of basic services and a healthy public sector is at stake. The following summarizes 10 measures which will have the least impact on economic growth and recovery—the “low-hanging fruit” in the tax system.
September 29, 2009
The California Tax Reform Association, which participated in many discussions of
the Commission on the Twenty-First Century Economy, criticized the report as “a
failure to provide a fair, long-term solution to California’s revenue and tax
problems.” Executive Director Lenny Goldberg said, among its many failings, “it
does not even address the distinct issues of the 21st century [...]
“Comments to the Commission on the Twenty-First Century Economy” on their proposed tax reform packages.
Read more...Read here for a comprehensive listing of waste, fraud and abuse in the tax system; fair taxes to solve our budget crisis, and structural reform necessary to move California forward. Download the PDF
Read more...The single most important market design issue facing this committee is how to allocate carbon allowances/permits. Getting it right will have a huge influence not only on the success of the market, but also on the success of the entire effort to limit carbon emissions. Conversely, getting it wrong will send the wrong message and [...]
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