The venerable Sacramento observer and writer, Dan Walters, has a column today that tries to explain the California budget turnaround under Gov. Jerry Brown. Prior to his election, the state was in a fiscal free fall into red ink oblivion. This is in a state that is the envy of al the others, and not a few countries around the globe. Recently, California surpassed Italy, climbing into the #8 spot on the global scale of large economies. And this with half the population of Italy.
Mr. Walters mentions the tax increases, passed by the voters, to raise taxes on the 1 per centers: those with taxable income over $500,000/yr. It has a time limit, set to expire in a couple of years. He also points to the fact that these taxpayers are paying a significant portion of their tax based on the sale of equity positions, ie. stock holding sold at profit. This means that this tax income to the state will fluctuate, be variable, year over year. He mentions the sales tax increase, which is now at 7 1/2%(plus local differences that can raise them to almost 10%).
How nice that he didn't mention the plethora of fees that continue to plaque taxpayers: fire prevention fee(on rural residents,only); the lumber fee-1%; the paint fee-1% on the container; the real estate transfer fee on almost all transfers of real property; and on and on.
All of this adds to the feeling that we have become a state of sharecroppers, dependent on the Padron who it is hoped, is kind and benevolent. Ha.
Mr. Walters didn't mention the 300000 PARENTS, who choose to send their children to private school, for a variety of reasons, saving the state and its taxpayers hundreds of millions of dollars per year. Nor does it mention those taxpayers who choose a private college instead of state run schools, saving even more tax dollars.
The mayor understands the limits on a writer's column, but maybe he could paint a more complete picture of Jerry Brown's budget. Maybe look at Dino Cortopassi's numbers. Truth to power.
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