Comments on: CA closes corporate tax ‘loophole,’ but doesn’t get expected bonanza

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Thu, 30 Jan 2014 18:08:16 +0000

Prop 30 did bring in more tax revenue, in the short run.

We will NOT pull out of this 7 year depression UNTIL housing returns, which it has not.

Housing will NOT return until jobs, real jobs in the private sector not the Fantasyland of public employment, are created.

Taxes will NOT go up on a regular and consistent basis until we have that private sector job creation. And if we do have a more severe downturn we will have real problems, as there are hundreds of CA muni’s sitting on the fiscal cliff right now, and even a mild downturn ill send them over.

By: Hondo

Hondo — Tue, 28 Jan 2014 05:12:58 +0000

Prop 30 did bring in more tax revenue, in the short run. But the unemployment rate in Kali is still among the nations highest. And Kali has more economic assets than anyplace on earth. All the taxes combined are keeping Kali from a revenue explosion such as which got me a great education(that I have mostly wasted) in the 50’s and the 60’s and early 70’s. You can’t just look at the small increase in revenue, compared to what the revenues would be in a much better business climate. You can only imagine the revenues if Kali had the same employment numbers as the rest of the nation, on average. With fracking and a better business climate, Kali could be paying down its unfunded pension debt along with the national debt too.
Prop 39 was a targeted increase which was felt more by a much smaller group of people and the effects are more concentrated. It is much easier for investors to move their investments to better business climates.
Hondo……..

By: John Seiler

John Seiler — Tue, 28 Jan 2014 00:11:07 +0000

Chris, that just means they need to double this tax increase to make up for the lost revenue!