Comments on: Gov.-Elect Newsom’s interest in tax reform likely to face bipartisan push-back

By: cagilbert

cagilbert — Thu, 29 Nov 2018 20:08:05 +0000

Why not put away income from high incomes and capital gains during good times for bad times? With some kind of mechanism that would keep from spending it in good times. Progressive taxation is worth keeping, it’s just necessary to smooth out the highs and lows.

By: Nick Prophy

Nick Prophy — Wed, 28 Nov 2018 15:13:46 +0000

In reply to RCC. You are correct. There is a general feeling of discontent in the state. If we do hit bottom, I don' t know if we could have worse leadership in Newsom. All he does is mouth talking points, be bold bs.i expect him to take a leave for detox, or homosexual sex addiction at some point. What a twit.

By: RCC

RCC — Tue, 27 Nov 2018 22:20:53 +0000

This really isn’t rocket science. The relationship with California tax payers is eroded. Once a state alienates their main tax base, they are then required to find new sources of revenue. Here is a thought: control spending, invest in growth, keep our corporate enterprises thriving in our state, invest in education, reduce regulation and develop a tax structure the middle class can support (your tax base). As of now – every person I speak with is thinking of a way to leave California. Sad that most families are searching for a way out rather than a way to stay, raise families and settle. Unfortunately the state will hit rock bottom before we wise up to rebuild. Sure I’ll get some nasty comments back, but this is the simple truth.

By: dc1

dc1 — Tue, 27 Nov 2018 15:24:35 +0000

In reply to Sean. I don't disagree, the state understands the income tax is maxed out so they are coming up with all sorts of other user fees and taxes that are meant to be targeted but in reality just go into the general fund to be spent/wasted.

By: Sean

Sean — Tue, 27 Nov 2018 14:55:44 +0000

I think the legislature is finding it can get away with regressive taxes on energy either directly through the fuel taxes to improve road maintenance (which just survived a challenge) or through cap and trade or “low carbon renewable fuel” fees, which are currently maxed out and likely a larger part of the $1 premium per gallon drivers pay at the pump. I suspect the 20 million drivers in California consume ~600 gallons of gas per year so that’s a $12 billion dollar annual hit on resident’s pocket books and even if only half ends up in the state’s coffers, its a lot of money from people that don’t rely on investment income to get by.

By: dc1

dc1 — Tue, 27 Nov 2018 01:37:31 +0000

The dems in charge would never agree to a flatter tax code even though it is a good idea, and fair. If you thought things were bad in CA the last time the economy weakened, you aint seen anything yet. Under Brown, the state doubled down on this dangerous tax system, making it even more dependent on the wealthy. But good luck changing it, probably the best single thing they could do for the state’s long term fiscal health and it has zero chance of success.

By: Hcat

Hcat — Tue, 27 Nov 2018 01:05:06 +0000

Even George Skelton, hardly a man of the right, has admitted that the state income tax is too dependent on the few and the rich. Evidently Newsom understands it. Unfortunately, even in California, there’s not enough of the few and the rich to sustain a society. And I say this as one who doesn’t want any more tax cuts at the federal level, and who opposes “starve the beast. “