Yet higher taxes?

by CalWatchdog Staff | May 25, 2010 6:31 pm

USA Today reports[1]:

A record-low 41.9% of the nation’s personal income came from private wages and salaries in the first quarter, down from 44.6% when the recession began in December 2007.

So, government is bigger than ever, assuming North Korean proportions. And the private-sector is smaller than ever.

So, what do Assembly Democrats want to do in California? Grab even more from the shrinking private sector — and borrow from future private-sector tax payments.

The L.A. Times reports[2]:

State Assembly Speaker John A. Perez on Tuesday outlined an alternative path to balancing California’s budget that would raise oil taxes, delay corporate tax breaks and borrow billions from the nickel-and-dime deposits consumers make on recyclable bottles — and would not require any Republican support.

At the heart of the proposal is the idea of raiding the state’s bottle deposits for the next 20 years and then getting an $8.7-billion loan from Wall Street. The programs currently funded by bottle deposits would be reimbursed by a new tax on oil production.

Well, why not. I’m tired of fighting the parasites. I think I’ll quit working and get a government job myself.

— John Seiler

Source URL: https://calwatchdog.com/2010/05/25/yet-higher-taxes/

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