CTA Wants To Divert The “Payoff Benefits” That Got BigBiz Onboard With Higher Taxes, And Divert Them To Thier Own Purposes
The Sacramento Bee is reporting the California Teachers Association is busy qualifying a measure to repeal about $1.7 billion dollars in tax benefits for corporations currently in place, or about to go into effect in the next budget year. First and foremost, for the record, repealing these benefits is a bad idea. Right now we need to be freeing up the capital of corporations so that they can grow, thrive, and create private sector jobs.
Now, that having been said, the bulk of the tax benefits that are targeted by the CTA are, in my opinion, ill-gotten gains from the February 2009 budget deal where taxpayers got slammed with $16 billion dollars of income, sales and car taxes, as well as loss of some of the dependent tax credit, and also the same deal spawned a ballot measure that would have doubled the length of those tax increases. Somehow as part of the deal, while taxes went up on the people of California, big-business got a bunch a tax breaks. And, go figure, the "business community" rallied around the deal, which in my opinion, stunk. It was… Read More