In an interview with Capital & Main, the California State Controller offers her assessment of the president’s proposal, and concludes that it is not genuine tax reform but largely a giveaway to the wealthy.
Most people don’t realize that when corporations are hit with massive punitive-damage awards, they actually pay far less than the amounts reported in news accounts. The financial sting of those awards can be eased because companies can deduct the amount paid from their taxes.
The last time California enacted comprehensive tax reform, FDR was president, Babe Ruth was still playing baseball and the Golden State was five years away from seeing its first freeway open.
“The biggest scam of the last 100 years is global warming!” thundered Stephen Moore to ALEC’s plenary breakfast club this morning. “It’s no surprise that when you give these professors $10 billion, they’re going to find a problem.” Moore then singled out North Dakota for its regulatory-free attitudes toward the fracking industry: “I just have […]
In How Enterprise Zones Are Killing the California Dream, Frying Pan investigative reporter Gary Cohn looked at the impact of the controversial program, including workers who lost their jobs while their former employers received tax breaks for hiring lower-paid replacements. He also reported on two strip clubs revealed to have benefited from the secretive program. Other media have picked up […]
Two State Senators held a press conference this morning outside Déjà Vu Showgirls, one of two Sacramento-area strip clubs that the Frying Pan News documented as benefitting from a controversial tax credit program. State Sens. Jerry Hill, D-San Mateo, and Anthony Cannella, R-Ceres, urged fellow legislators to join them in reforming California’s enterprise zone program. […]
Exactly a century ago, on February 3, 1913, the 16th Amendment to the Constitution was ratified, authorizing a federal income tax. Congress turned it into a graduated tax, based on “capacity to pay.” It was among the signal victories of the progressive movement — the first constitutional amendment in 40 years (the first 10 had […]
How much do the newly enacted tax hikes on the wealthiest Americans actually affect them? Hardly at all. Almost all of the debate that convulsed Capitol Hill in December concerned the reinstatement of the highest marginal tax rate on earned income — that is, on wages and salaries. But as Fitzgerald said, the rich are […]
Just a few years ago, the tax deal pushed through Congress on Tuesday would have been a Republican fiscal fantasy, a sweeping bill that locks in virtually all of the Bush-era tax cuts, exempts almost all estates from taxation, and enshrines the former president’s credo that dividends and capital gains should be taxed equally and […]
Source: Zina Saunders on YouTube
“And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.” Those are the opening lines from the Christmas story according to St. Luke, as written down by the team of scholars working under the direction of King James of England 500 […]
The very next day after the election, congressional leaders held dueling press conferences in Washington to start the stampede to the fiscal cliff. But December 31 is not a cliff; it’s a slope. Actually, the better metaphor is a showdown between two different visions for the country – a showdown that will not only take […]
(This post originally appeared in Labor’s Edge, the blog of the California Labor Federation) Zombies are everywhere these days. They’re on popular TV shows. They’re in the movies. They’re in our nightmares. But what many Californians don’t know is that zombies are a primary reason of our ongoing budget crisis. Yes, that’s right. We call […]
By Lenny Goldberg, California Tax Reform Association, and Roy Ulrich, Goldman School of Public Policy at U.C. Berkeley (This article first appeared in the California Progress Report.) Jerry Brown’s most recent budget proposal takes a meat ax to vital programs, including Medi-Cal and in home support services (IHHS). Why do we refer to them as “vital?” IHHS, […]