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The one tax increase I was hugely in favor of, the gas tax increase, was removed at the last minute. Ugh. Yes, I'm a bit obsessed in my belief that our trade deficit is part of what made this mess. Oil is far to large a component of that deficit to not make strategic policy changes to cut consumption.
Many of the other tax increases... I consider a problem.
I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle. -- Winston Churchill
Wise taxes and tariffs have a role. I would have supported up to a 50 cent per gallon increase in gasoline taxes! We need better roads, a bus system, and even rail. (I expect two people to dislike the last: my best friend and Rob Dawg.) Then again, I have relatives who design rail projects and if they could be installed from precast (in a factory) concrete assemblies, it actually makes economic sense. ;) Assuming you also build bus terminals to anchor major destinations (e.g., LAX, union station, Burbank airport, etc.)
I'm glad there is a budget. I'm just very upset the wisest tax in the whole package was cut. The only problem is that in six months the state will have to panic and put together a revised budget to handle the further drops in income, capital gains, sales, and property taxes.
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Neil
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2 comments:
I'm on record for an 11 cent gas tax increase. The difference is I would like to see it go to transportation projects. The 12 cents the banditos de sacramento were pushing was the worst sort of productivity redistribution.
Rob Dawg,
I'd be for a 50 cent tax if it went to transportation.
The more I think about it, the more I realize this budget is nothing more than a three month patch. It will keep the SS California floating for a little longer, but not forever. Sigh...
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Neil
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