Posted by BOE Member George Runner at 12:00 am on Sep 29, 2009 1 Comment
The Governor’s Commission on the 21st Century Economy delivered
its much anticipated
report today. Some of the recommendations are valid and should
be embraced by the Legislature. But unfortunately, the report also
calls for a hidden tax on business (known as the business net
receipts tax) that would lead to taxing services.
At a time when California’s business climate is the third worst
in the nation and when its unemployment rate is breaking
Depression-era records, the notion of a hidden tax will go over
like a lead balloon with taxpayers, with economists and certainly
with Republicans.
How can we support any idea that will make California less
competitive in business, kill jobs and evaporate the
entrepreneurial spirit that Californian is known for the
world-over? It’s obvious that further taxation will do all of these
things, and in the process send California’s business climate to
rock bottom and push our joblessness rate through the
roof.
Perhaps instead, Legislative leaders and the governor should get
serious about… Read More