Even with “the most progressive tax system in the United states,” California Gov. Jerry Brown is facing huge deficits, and cannot balance the state budget. The huge $180billion state budget proposal for 2017-18, may be another record budget but for millions of Californians, it’s still record stagnation and less income.
Brown has presented yet another budget fairytale that will have $5.8 Billion in deficits over the next three years – even with the recently passed ballot tax of $10 Billion in new tax revenue. And the budget does little or nothing to pay down more than $240 billion in state debt.
Why? Because personal income tax, corporate, and sales tax projections are down.
“Why are… Read More