Tuesday, May 15, 2012

Solution: 7-Year Tax

Governor Brown promised that if we elected him again that this time he would not spend all of his time in night clubs and casinos like he did last time. We can believe him, he said, if for no other reason than that now he is too old for that kind of thing, which I can sort of relate to. He seems to be keeping his promise, but I'm not sure how much good it's doing us.

This $16 billion deficit we have is a one-year shortfall, so he is proposing a .25¢ sales tax increase and a small income tax increase on people making more than $250,000 per year. The new taxes are to last for seven years. Um, what?

1 comment:

bruce said...

That's the "structural reform" he talked about (which actually isn't) to prevent a deficit next year. And the year after that. Ad nauseum. And in 7 years, there will be a push to repeal or renew the "Brown tax increases".

sigh....

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