Higher Taxes = Business Departures = Lower Tax Revenues
Higher Taxes = Business Departures = Lower Tax Revenues
State Controller Betty Yee’s just-released July Cash Report shows state personal income tax revenue falling behind estimates by 6.9 percent, or $323 million lower than projections. While some will argue that one month does not make a trend, these figures are significant because they represent revenue in the first month of the new state budget,...
By Jon Coupal
Teachers Union Hits Taxpayers with ‘Money Club’ Again
Teachers Union Hits Taxpayers with ‘Money Club’ Again
The California Teachers Association has just dropped $10 million into its campaign to extend the “temporary” income tax hike voters approved when they passed Proposition 30 in 2012. Proposition 55, which will appear on this November’s ballot, would extend the highest income tax rates in all 50 states for another dozen years. Four years ago,...
By Jon Coupal
Property Taxes to Increase by 13 Percent in Coming Year
Property Taxes to Increase by 13 Percent in Coming Year
In Chicago, escalating property taxes are headline news. With the average property tax bill due to go up by 13 percent – and more increases in subsequent years virtually guaranteed – home ownership in the Windy City is in deep peril. No one seems happy except the moving companies. This drastic tax increase is the...
By Jon Coupal
Budget Deception: Weird Accounting Diminishes Accountability
Budget Deception: Weird Accounting Diminishes Accountability
This week, after reaching agreement with Governor Brown, the California Legislature will pass the state budget for the 2016-17 fiscal year. In so doing, it will meet its Constitutional deadline of June 15th. A few weeks ago, this column attempted to provide some clarity to ordinary citizen taxpayers on basic state budget issues. This included...
By Jon Coupal
TAXPORTATION: Profligate Waste Negates Justification for Transportation Tax Hike
TAXPORTATION: Profligate Waste Negates Justification for Transportation Tax Hike
Part One: California’s Highways – A Legacy of Mismanagement and Over-regulation. A personal digression: My father was head of the Iowa Department of Transportation (then called the Iowa Highway Commission) in the late ’60s and early ’70s before he was appointed by President Ford to serve as Deputy Federal Highway Administrator. (Of course, he lost...
By Jon Coupal
High Costs of Pro-Union Agreements & Policies Negates Transportation Tax
High Costs of Pro-Union Agreements & Policies Negates Transportation Tax
According to my father, in the 1950s and ’60s, California had the best transportation agency in the entire world. But all that changed with the election of a new, anti-growth, small-is-beautiful governor by the name of Jerry Brown. Now, fast forward 40 years. Governor Brown, version 2.0, proposes a budget that assumes a big increase...
By Jon Coupal
Budget Primer for California Citizen Taxpayers
Budget Primer for California Citizen Taxpayers
Average taxpayers in California are probably aware that the state budget was in the news again over the weekend. But even folks who follow both Presidential politics and local issues probably couldn’t be blamed if they tune out stories about the California budget. It’s not that they don’t care. It’s just that public finance issues...
By Jon Coupal
Billions in New Bonds Should Not Escape Voter Approval
Billions in New Bonds Should Not Escape Voter Approval
Former Speaker Willie Brown once said, “In the world of civic projects, the first budget is really just a down payment.” The strategy, he noted, was to start construction of a project quickly so it would be hard to stop once people learned of the real cost which, in many cases, could be many multiples...
By Jon Coupal
Special Interests and Hospitals Inflict Pain On Taxpayers
Special Interests and Hospitals Inflict Pain On Taxpayers
In 2012, those of us who opposed Proposition 30 were told that the measure, which was the largest state tax hike in American history, was just a “temporary” fix to address the emergency of a severe budget shortfall. But just as Milton Friedman noted that “nothing is so permanent as a temporary government measure,” here...
By Jon Coupal
Public Unions and Special Interests Postpone Undermining Proposition 13
Public Unions and Special Interests Postpone Undermining Proposition 13
The late songwriter Jim Croce listed a number of imprudent actions in his “You Don’t Mess Around With Jim.” Along with staying out of Jim’s way, he included the admonition not to tug on Superman’s cape or spit into the wind. Croce might have added to his list the foolishness of taking on Proposition 13....
By Jon Coupal
Unionized Government's Open Season On Taxpayers
Unionized Government's Open Season On Taxpayers
Even if one lives in a cave, it’s hard to avoid the publicity surrounding the high profile presidential debates that are a reminder that this is an election year. And California taxpayers know, from hard experience, it also means that it is open season on taxpayers as local politicians rush to put tax increases on...
By Jon Coupal
Give Thanks That Voters Can Still Save California From Government Unions
Give Thanks That Voters Can Still Save California From Government Unions
With the recent terror attacks against France, America’s oldest ally, most Americans are rightfully concerned for the welfare of our friends abroad as well as our own safety. With the French, we share a common heritage of a dedication to liberty. The Statue of Liberty that stands proudly in the harbor of New York is...
By Jon Coupal
Funding Pensions for Unionized Government Workers – It's Never Enough
Funding Pensions for Unionized Government Workers – It's Never Enough
Editor’s Note: Here’s another government pension horror story coming from Chicago. If you think it can’t happen here, think again. California’s political system, state and local, is just as dominated by government unions as Illinois. At least in Illinois, Governor Rauner is using every legal and political weapon he can possibly muster to fight these unions....
By Jon Coupal
Government Unions Move to Extend "Temporary" Income Tax Increases
Government Unions Move to Extend "Temporary" Income Tax Increases
A coalition of government employee unions has filed an initiative that would extend the temporary income tax hikes that were contained in Proposition 30 and approved by voters in 2012. If this seems like, in the immortal words of Yogi Berra, “déjà vu all over again,” it’s not your imagination. This is just the tax...
By Jon Coupal