Friday, January 27, 2012
Keep California green - 5 year balanced tax ballot initiative
Excerpts from the San Francisco Chronicle/Wyatt Buchnan, 1/25/12. "Gov. Jerry Brown's plan for a ballot initiative that would raise tens of billions of dollars by temporarily increasing the sales tax and the income tax on wealthy Californians has the support of more than two-thirds of likely voters in the state, according to a poll by the Public Policy Institute of California.
The poll found 68 percent of likely voters - including majorities of Democrats, Republicans and independents - support the proposed initiative, which the administration estimates would generate about $35 billion over five years. The nonpartisan Legislative Analyst's Office has projected the measure would raise about $7 billion less. Support indicated by the poll does not mean Brown will have an easy time getting the initiative passed, however, said Mark Baldassare, president and CEO of the institute....
.....Under the governor's proposal, the sales tax would increase by half a cent, and income taxes would increase between one and two percentage points starting with individuals making more than $250,000 per year or couples who together make more than $500,000 per year. The taxes would expire after five years. Steve Glazer, Brown's chief political adviser, said, "It is a positive start to our efforts to promote a balanced budget plan that implements difficult budget cuts along with temporary taxes.".... Read more.
Posted by Kathy Meeh