OK – this is worth a minute of your time today. As if Phil Angelides wasn’t already completed bracketed as the big taxer and spender that he is, the Schwarzenegger has prepared a short 
reminder of how many different taxes he has pledged to raise. Even more alarming (if possible) than his billions in proposed tax increases are that just some of his proposed spending increases that total close to $20 billion. Good grief. Check out the video here.
Below are some facts to chew on after watching it… (Sorry if it goes on awhile. Blame Phil Angelides for being so specific on so many occasions on how much he will tax and spend California’s economy into the gutter.)
Phil Angelides Has Already Promised To Raise Taxes $5 Billion…
Angelides Told Los Angeles Times‘ George Skelton He Would Need A $5 Billion Tax Hike To Balance The Budget And Fund His Promises. "He’d need the $5-billion tax hike, Angelides says, to truly balance the state budget without borrowing, fully fund schools under Proposition 98 and finance $930 million in other new projects. These include rolling back university and college fees to the levels they were before Arnold Schwarzenegger became governor, expanding student Cal Grants and providing healthcare for all poor kids." (George Skelton, Op-Ed, "Digging Deep Reveals The Differences Between Angelides, Westly," Los Angeles Times, 6/1/06)
Angelides Said His Tax Plan To Pay For His Spending Promises Would Cost $5 Billion. ANGELIDES: "We would have to roll back about $5 billion in corporate tax loopholes and tax breaks for multi-millionaires to finance a reduction in college fees and tuition, expanded health care for children, as well as to balance our budget." (Phil Angelides, Remarks At Roybal Comprehensive Health Center, Los Angeles, CA, 6/09/06)
Answering Reporter’s Question, Angelides Said $5 Billion Would Pay For His Spending Proposals. REPORTER: "So that 5 billion would pay for universal health care?" ANGELIDES: "Yes, It would balance the budget, it would help us lower college tuition and fees, it would fully fund our schools, and it would expand health care to every child in the state." (Phil Angelides, Remarks At Roybal Comprehensive Health Center, Los Angeles, CA, 06/09/06)
After Final Primary Debate, "Angelides Said His Proposal To Raise Taxes On The Wealthy And Businesses To Balance The Budget Would Amount To $5 Billion, Not $10 Billion." "In post-debate comments Wednesday, Angelides said his proposal to raise taxes on the wealthy and businesses to balance the budget would amount to $5 billion, not $10 billion." (Edwin Garcia and Kate Folmar, "Angelides And Westly Face Off For The Last Time," San Jose Mercury News, 5/11/06)
But Phil’s Campaign Promises Just Don’t Add Up… It’s Time California Taxpayers Start Taking Notes (No One Else Is). Angelides Tax Record: Add Sales Tax To Legal & Accounting Services…
Angelides Proposed Expanding Sales Tax To Legal And Accounting Services In 2003. "[A]ngelides proposed several tax increases, including: … -Adding sales tax to services like legal and accounting fees …" (Mark Martin, "State Treasurer Calls For Increase In Business Taxes," San Francisco Chronicle, 2/14/03)
Raise Corporate Income Tax…
Angelides Proposed Raising Corporate Income Taxes In 2003. "State Treasurer Phil Angelides called on Gov. Gray Davis and Democratic legislators Monday to step up pressure on Republicans to raise taxes, saying GOP intransigence threatens to undermine California’s public school system. … Among his suggestions: higher alcohol and corporate-income taxes …" (Michael Finnegan, "Angelides Seeks to Press GOP for Tax Hikes," Los Angeles Times, 2/11/03)
Triple Car Tax…
Angelides Supported $4 Billion Tripling Of Car Tax, Called Governor Schwarzenegger’s Repeal Of Car Tax Hike "Wrong-Headed." "’The car tax,’ [Angelides] said, ‘has been cut for people, even like the governor, who own Hummers. And that’s being financed with borrowing and more cutbacks on the disabled and our university system … The notion that it’s more important to give a tax break on a Hummer than to help the disabled become full, productive members of our society just seems wrong-headed.’" (George Skelton, Op-Ed, "Two Passionate Voices Are Making Themselves Heard," Los Angeles Times, 12/11/03)
Raise Sales Tax…
Angelides Proposed Raising Sales Tax In 2004. "By raising the state sales tax by 1/2 cent and raising taxes on the wealthy, Angelides estimates California could generate an additional $11.9 billion in three years, and take out new short-term loans in the meantime." (Michael Liedtke, "Bond Measure For Debt-Ridden California Faces $15 Billion Question," The Associated Press, 2/13/04)
Angelides Proposed Raising Sales Tax In 2001. "State treasurer Philip Angelides says increasing the state sales tax by two cents could avert many of the program cuts lawmakers fear." (Chris Rizo, "Veto Fever Strikes Capital," Pasadena Star-News, 10/4/01)
Raise Taxes On Commercial Property…
Angelides Proposed "Split Roll" Property Tax Hike On Commercial Property In 2003. "Angelides proposed several tax increases, including: … -Instituting a so-called ‘split roll’ property-tax system, in which commercial property would be assessed at a higher rate than residential property." (Mark Martin, "State Treasurer Calls For Increase In Business Taxes," San Francisco Chronicle, 2/14/03)
Angelides: California "Ought To Have The Courage To Re-Look" At Proposition 13 Property Tax Protections, Saying "I Do Think That’s One Of the Structural Changes We Need To Make." "And so we really, I think, some now 23 years after Proposition 13, ought to have the courage to re-look at it, to give back to local governments a reasonable and rational ability for local citizens to decide what kind of property taxes they’re willing to pay for what kind of services so we’re not wholly dependent on state government to finance all these capital improvements and programs and we’re not highly dependent on, frankly, taxes that tax productivity and consumption and are highly volatile. And I do think that’s one of the structural changes we need to make." (Phil Angelides, Remarks To 24th Annual Real Estate & Economics Symposium, UC Berkeley’s Fisher Center For Real Estate And Urban Economics, San Francisco, CA, 11/19/01)
Raise Alcohol Tax…
Angelides Proposed Raising Taxes On Alcohol In 2003. "[A]ngelides proposed several tax increases, including: … -Adding sales tax to services like legal and accounting fees; … He also proposes upping taxes on alcohol." (Mark Martin, "State Treasurer Calls For Increase In Business Taxes," San Francisco Chronicle, 2/14/03)
Raise Income Tax…
Angelides Proposed Raising Income Taxes In 2004. "Angelides said the deficit can be wiped out in three years if the state reinstates the 10 and 11 percent tax brackets on the state’s top wage earners – singles who make more than $140,000 a year and couples making more than $280,000 year. Those tax rates would generate about $6.8 billion over the next three years." (Tom Chorneau, "Angelides Offers No-Bond Plan, While Assembly Approves Cuts," The Associated Press, 2/19/04)
Repeal Tax Exemption On Farm Equipment…
Angelides Proposed Repeal Of Sales Tax Exemption On Farm Equipment In 2004. "State Treasurer Phil Angelides wants to repeal the sales-tax exemption on farm equipment and diesel fuel to help repair the waning state budget, outraging agriculture leaders struggling to keep their industry financially afloat. … In 2001, the Democrat-dominated Legislature approved Assembly Bill 426, which provided sales-tax exemptions on liquid petroleum gas, farm and timber equipment and diesel fuel used in farming activities." (Jennifer M. Fitzenberger, "Farmers’ Break On Sales Taxes Attacked," Fresno Bee, 4/28/04)
Angelides Tax Plan: Close Deficit: $3.5 Billion…
Angelides Proposes Raising Taxes To Close $3.5 Billion Structural Deficit. "Treasurer Phil Angelides has called for higher income taxes on the affluent and closing corporate tax loopholes to balance the budget and finance the additional spending he wants …" (Dan Walters, Op-Ed, "Income Taxes Generate Ever-More Revenues, But Deficits Persist," Sacramento Bee, 4/18/06)
Angelides Tax Plan: Employer Health Insurance Mandate: $7 Billion…
Angelides Pledged To Sponsor Employer Health Care Mandate Legislation Similar To SB 2. ANGELIDES: "I pledge to you, that on day one I will sponsor legislation for large employers, those who employ 200 employees or more, to cover all their workers that will expand healthcare to the million Californians who work full time, some times with two jobs, it’s the right thing to do." (Phil Angelides, Remarks At Healthcare Roundtable, Los Angeles, CA, 7/24/06)
· California Chamber Of Commerce: SB 2 Would Cost Approximately $7.2 Billion. "The cost to Californians of mandated health care proposals pending in the Legislature is estimated at more than $7.2 billion, according to a report released yesterday by the California Chamber of Commerce. … The report, authored by the Los Angeles Economic Development Corporation, says that the proposed mandated health care tax would result in costs to businesses of $5.7 billion and costs to employees of approximately $1.5 billion." (California Chamber Of Commerce, "Mandated Health Care Would Cost Over $7 Billion," Press Release, 9/9/03)
· California Chamber Of Commerce: SB 2 Is "Multibillion-Dollar Health Care Tax On Employers And Employees." "The California Chamber is preparing to challenge the multibillion-dollar health care tax on employers and employees signed over the weekend, SB 2 (Burton; D-San Francisco), mandating employer-paid health care in California." (California Chamber Of Commerce, "Chamber To Challenge Newly Signed Health Care Tax," Press Release, 10/7/03
Angelides Tax Plan: Additional Prop. 98 Spending: $3.2 Billion…
Angelides Proposes Raising Taxes To Fund "Ongoing, $3.2 Billion Increase In Annual Education Budgets." "Angelides, who has made education spending the centerpiece of his campaign, believes this final $3.2 billion is owed, and he proposes to raise taxes to get the money to pay it. And, going beyond the position taken by the schools lobby, Angelides said last week that he believes the extra money should be added to the base upon which future budgets are built, meaning it would be an ongoing, $3.2 billion increase in annual education budgets. This would give the schools about 5 percent more than either Schwarzenegger or Westly is proposing." (Daniel Weintraub, Op-Ed, "Where Democrats, Governor Stand On School Spending," Sacramento Bee, 4/11/06)
Angelides Tax Plan: School Counselors, Math & Science Programs, College Tuition Rollbacks: $1.5 Billion…
Angelides Proposes Raising Taxes To Fund $1.5 Billion In New Spending To Hire Thousands Of New School Counselors, Expand College Math And Science Programs And Roll Back Higher-Education Tuition. "As for Angelides, he has proposed more than $1.5 billion in new spending to hire 6,442 grade-school counselors, expand college math and science programs and roll back higher-education fee increases that took effect under Schwarzenegger. … To cover all of those costs, Angelides says the state can raise $300 million a year by developing empty lots and other public property, $2 billion by closing business tax loopholes and $2.1 billion or more by raising income taxes on the highest-earning Californians." (Michael Finnegan, "Candidates Silent On State’s Cash Crunch," Los Angeles Times, 4/1/06)
Angelides Tax Plan: Universal Pre-School: $2.4 Billion…
UNIVERSAL PRESCHOOL: Angelides Supported Universal Preschool Initiative’s $2.4 Billion Tax Increase And After Prop 82’s Defeat He "Didn’t Specifically Rule Out That Tax Increase" To Pay For Preschool. "The governor’s campaign did its own math and came up with more than $10 billion in tax increases to pay for Angelides’ promises. That includes the $2.4 billion in additional taxes the treasurer backed when he endorsed Proposition 82, the universal preschool initiative voters defeated Tuesday. On Friday, Angelides didn’t specifically rule out that tax increase. He would only say that ‘Prop. 82 is off the table.’" (Laura Mecoy and Amy Chance, "Schwarzenegger Fires A First Salvo," Sacramento Bee, 6/10/06)
· Angelides: "Preschool Will Cost About $2 Billion. I’ve Said I’m Willing To Close About Up To $5 Billion In Tax Loopholes, Tax Breaks For People Making Over A Half A Million Dollars So We Can Have Good Schools And Good Preschool. We Can’t Choose. Those Are Things We Need." "Well here’s where I am though and I want to be clear about it, which is I’m for preschool, because I believe it’ll help prepare more four-year olds to go to school, to learn well, to make us competitive in the global economy. This is I think where the Bush-Schwarzenegger economic agenda is barren. They’re going to bankrupt the country and they’ll leave us without the knowledge, power, and skills for the next generation to succeed. But I’ve also been clear, look, the wealthiest have gotten $17 billion a year in tax breaks. Preschool will cost about $2 billion. I’ve said I’m willing to close about up to $5 billion in tax loopholes, tax breaks for people making over half a million dollars so we can have good schools and good preschool. We can’t choose. Those are things we need. And by the way, it’s what a previous generation of Californians did for us." ANCHOR: "But couldn’t a persuasive chief executive…" ANGELIDES: "Yes." ANCHOR: "…From previous generations who didn’t have this make the case that this what we need and we don’t need an initiative to lock it in." ANGELIDES: "You know what Patt, that’s why I’m anxious to be governor because I want to lead the charge for the investments we need. And the reason we keep seeing these individual initiatives is we have people like Arnold Schwarzenegger and Steve Westly who say we just got to go along with what we have rather than challenging Californians to make the investments in preschool, schools, higher education, lower tuition fees that will make us strong and I’ll do that. And when I do that, I think I’m going to fill up the screen with ideas so that these initiatives just won’t be necessary." (KPCC’s "Patt Morrison" Show, 5/30/06)
Angelides Tax Plan: Expand Health Care Coverage: $300 Million…
Angelides Proposes Raising Taxes To Fund $300 Million Proposal For Healthcare. "[Westly] supports a plan to spend $300 million a year on health coverage for 800,000 children. [Angelides] also backs the $300-million proposal for children’s healthcare, which Schwarzenegger says the state cannot afford. To cover all of those costs, Angelides says the state can raise $300 million a year by developing empty lots and other public property, $2 billion by closing business tax loopholes and $2.1 billion or more by raising income taxes on the highest-earning Californians." (Michael Finnegan, "Candidates Silent On State’s Cash Crunch," Los Angeles Times, 4/1/06)
Angelides Tax Plan: Expand CalGrant Scholarships: $185 Million…
Angelides Proposes Expanding Cal Grant Scholarships, Costing $185 Million.(Carla Marinucci and John Wildermuth, "Dem Candidates Go Aground On Budget Specifics," San Francisco Chronicle, 4/19/06)
Angelides Tax Plan: National Guard Plan: Free Tuition, Healthcare, Etc: $24 Million…
Angelides Proposes Plan To Provide Health Care Benefits, Free College Tuition And Other Assistance For California’s National Guard Members, Which He Said Would Cost $24 Million Per Year."Democratic gubernatorial candidate Phil Angelides promised Thursday to provide health care and free college tuition to the state’s 20,000 National Guard troops while suggesting their current benefits under Gov. Arnold Schwarzenegger are ‘unacceptable.’ … Angelides’ campaign estimated his plan would cost $24 million per year, which could come from closing corporate tax loopholes – a financing approach that Angelides has relied on for all of his campaign promises, together with raising taxes on the highest income earners." (Kevin Yamamura, "Vows To Aid Guard, Vets," Sacramento Bee, 6/23/06)
But Who’s Counting? Total $18.109 Billion. California Taxpayers Should Be… $18.109 Billion Does Not = $5 Billion.
Sacramento Bee’s Dan Walters: "[Angelides’ $5 Billion Tax] Number Doesn’t Cover All The New Spending He’s Pledged To Support." "Schwarzenegger’s campaign has been attacking Angelides for supposedly seeking $10 billion in new spending and taxes, picking up where Angelides’ Democratic rival, Steve Westly, left off in June, and more recently the governor’s campaign has added $7 billion more to Angelides’ supposed tax bill on Californians because he’s supporting a universal health care program. Angelides says that he’d boost taxes by about $5 billion a year, but that number doesn’t cover all the new spending he’s pledged to support, nor does it include the health care scheme." (Dan Walters, Op-Ed, "Election Looms As Climatic Point In State’s Tax-Spending Debate," Sacramento Bee, 8/4/06)
Sacramento Bee’s Daniel Weintraub: Angelides "Has Proposed Raising Taxes On The Wealthy And ‘Closing Corporate Loopholes’ – Neither Of Which Would Cover His Calls For Increased Spending, Let Alone Close The State’s Current Deficit." "Angelides has not mentioned taxes in his ads, but on the campaign trail he has proposed raising taxes on the wealthy and ‘closing corporate loopholes’ – neither of which would cover his calls for increased spending, let alone close the state’s current deficit." (Daniel Weintraub, Op-Ed, "Westly, Angelides Ignoring State’s Biggest Issue," Sacramento Bee, 3/21/06)
San Jose Mercury News Editorial: Angelides’ "Bad Math" Doesn’t Add Up As His Proposals Would Tax Wealthy "Over And Over Again" Without Providing More Money For Education Or Balanced Budget. "Angelides’ problem is bad math. Along with the vague call for closing corporate loopholes to bring in more money, he says he’d fully fund education by taxing the rich – those earning more than $500,000. Apparently, he’d do so over and over again. The wealthy are already taxed for mental-health care. Angelides favors Proposition 82, which would hit them for an additional $2.4 billion for universal preschool, and he’d pile on more for general school spending. The state budget is already billions in the red. There aren’t nearly enough rich people in the state – or there wouldn’t be after Angelides got through with them – to balance the budget with substantially more money for education." (Editorial, "Sound Bites Won’t Help Schools," San Jose Mercury News, 4/13/06)
Note To California Taxpayers, Time To Start Counting, No One Else Is… And Phil Isn’t Even Done Yet.
Sacramento Bee’s Dan Walters: $5 Billion Tax Hike "Merely A Down Payment On The Spending Angelides Advocates." "Angelides, however, is continuing to dissemble on the tax issue, which could become a big bone of contention between the two. He is now insisting that he wants a little less than $5 billion in new taxes on the rich or corporations, but – as Schwarzenegger’s campaign gleefully points out – that number would be merely a down payment on the spending Angelides advocates." (Dan Walters, Op-Ed, "Angelides, Schwarzenegger Know Numbers But Emit Balderdash," Sacramento Bee, 6/18/06)
Despite $7.5 Billion Boost In Tax Revenue This Year, Angelides "Continued To Call For Increased Taxes." "But it turns out that budget and school problems are not as severe as once thought – at least for now. The state has received a one-time, $7.5 billion boost in tax revenue this year, a windfall that could undercut Angelides’ ability to convince voters of the necessity for more taxes. … After Schwarzenegger’s budget release, Angelides continued to call for increased taxes on high-income earners and the closure of corporate tax loopholes. ‘I’m not running for governor on a platform that I’m satisfied with doing the minimum for schools,’ Angelides said. ‘I remain committed to making our schools the best, making our university systems the best.’" (Kevin Yamamura, "Tax Issues Altered By Budget Revision," Sacramento Bee, 5/14/06)
Angelides Not Ruling Out Other Tax Increases. "Angelides did not rule out tax or fee hikes should new funding needs arise. As an example, he said: ‘If we need to expand our ports, rather than just selling general obligation bonds . . . how about talking about shipping fees, container fees with the shipping companies who have an interest in expanding ports.’" (Mary Anne Ostrom, "Angelides Says He Will Defend Himself Against Negative Ads," San Jose Mercury News, 5/19/06)