Poizner: New Budget “Raw Deal”
This just in from Insurance Commissioner Steve Poizner…
The budget deal passed by the Legislature is a raw deal for the people of California.I have repeatedly and vigorously spoken out against this budget deal. It is simply the latest example of the fundamental dysfunctionality of Sacramento.
California already has the highest income taxes and the highest state sales tax.This dealraises them even higher.The car taxwill be nearly doubled – a slap in the face of working Californians who thought the 2003 recall had resolved that issue in favor of the taxpayer.
As I'vepreviously said, it is astounding to me that while the Obama White House is proposing a tax cut for 95% of all Americans, the Sacramento politicians are proposing a tax increase for 95% of all Californians. Either raising taxes in the middle of a deep economic recession is good public policy or it is bad public policy, but it cannot be both.
As newspapers havereported, the state budget deal severely limits any positive financial benefit for the people of California from the federal economic stimulus package. Instead,the tax… Read More