sfdreaming09 wrote:We can thank all the obstructionist Republicans in the California state legislature for this mess. Their ridiuclous "anti new-tax" pledge is destroying our state.
Definitely, let's raise taxes in the middle of a recession. All the waste in spending on corruption shouldn't be dealt with, the problem is clearly the "low" income tax rates in California.
I've actually spent the last two years working in tax policy, and much data shows that raising taxes during a recession, particularly on upper-income earners, is the most effective and efficient way to combat recession. See: Center on Budget and Policy Priorities data, National Association of State Budget Officers data, and National Association of State Legislatures data, 1999-2003.
The key is disposable income, particularly for low-earners, who spend their money locally and on essential items almost exclusively.
Colorado's higher education system is also getting priced-out for most residents as a result of our TABOR and anti-tax policies over the past 2 decades. We're now 49th in public spending on higher education, and just cut higher-ed budgets by another 20%. California may surpass us at this rate.