Get free daily email updates

Syndicate this site - RSS

Recent Posts

Blogger Menu

Click here to blog

FlashReport Weblog on California Politics

- Or -
Search blog archive

Edward Ring

Californians Approve $5.0 Billion in New Taxes

For the last few years, using data provided by the watchdog organizationCalTax, we have summarized the results of local bond and tax proposals appearing on the California ballot. Nearly all of them are approved by voters, and this past November was no exception.

With only a coupleof measures still too close to call (TCTC), as can be seen, 94% of the 193 proposed local bonds passed, and 71% of the proposed local taxes passed.Two years ago, 81% of the local bond proposals passed, and 68% of the local tax proposals passed. No encouraging trend there.

Outcome of Local Bond and Tax Proposals – November 2016

A simple extrapolation will provide the following estimate: Californians just increased their local tax burden by roughly $4.0 billion, in the form of $1.9… Read More

Edward Ring

California’s $12.3 Billion in Proposed School Bonds: Borrowing vs. Reform

“As the result of California Courts refusing to uphold the language of the High Speed Rail bonds, the opponents of any bond proposal, at either the state or local level, need only point to High-Speed Rail to remind voters that promises in a voter approved bond proposal are meaningless and unenforceable.” – Jon Coupal, October 26, 2014,HJTA California Commentary

If that isn’t plain enough – here’s a restatement: California’s politicians can ask voters to approve bonds, announcing the funds will be used for a specific purpose, then they can turn around and do anything they want with the money. And while there’s been a lot of coverage and debate over big statewide bond votes, the real money is in the countlesslocalbond issues that collectively now encumber California’s taxpayers with well over$250 billion in debt.

Over the past few weeks we’ve tried to point out that… Read More

BOE Member George Runner

‘Tax the Rich’ Code for Taxing Job Creators

Years of overtaxation and overregulation have given California the second highest unemployment rate in the nation. Even so some of our state lawmakers still believe that punishing success is a recipe for job growth.

Efforts by Assemblywoman Nancy Skinner (D-Berkeley) and other Democrat legislators to increase taxes on high income earners will actually punish California job creators and worsen volatile state revenues.

According to the Tax Foundation, California already has the third highest income tax rate and one of the most progressive tax structures in the nation. The top one percent of California’s income earners have incomes of $500,000 or more per year and pay up to 50% of all income tax revenues received by the state each year, according to a report by the non-partisan Legislative Analyst’s Office.

The battle cry to ‘tax the rich’ is really code for taxing California’s job creators, including many small businesses that are struggling to survive. Rather than help California’s budget, higher taxes will reduce revenues and drive even more job creators out of our state or out of business.

The Tax Foundation also… Read More