CA taxes have DROPPED $6 billion

CA taxes have DROPPED $6 billion

Taxifornia1Let me elaborate on something I mentioned in a blog yesterday: California taxes have dropped $6 billion in the last two years. That’s because Gov. Arnold Schwarzenegger’s record, $13 billion tax increase of 2009 expired and was replaced in 2012 by Gov. Jerry Brown’s $7 billion tax increase of Proposition 30.

Net: a $6 billion tax cut.

More, Brown has come out against further tax increases. This obviously impacts his 2012 re-election bid. But it also could help him in a 2016 presidential bid.

It’s also worth remembering that, after the Proposition 13 tax cut passed in 1978, Brown dropped his opposition, embraced it, and called himself a “born again tax cutter.”

What this means for California taxpayers is a respite from the unpredictable, high-tax tenure of Republican Schwarzenegger to a more predictable, actually lower-tax environment of Democrat Brown.

Despite the state’s generally anti-business climate, there obviously are 38 million reasons we keep living here. Paying lower taxes sure doesn’t hurt the reasons for staying.

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