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$9 billion in New Taxes - DeVore on John & Ken at 5 PM

Posted by: Chuck DeVore | 07/10/2008 2:28 PM

Well, here we go again.  After years of overspending and borrowing to pay for it, California's Democratic lawmakers have proposed a massive $9 billion tax hike to partially cover a $15 billion deficit.  And, while they want to increase taxes to cover their overspending, they have the gall to propose spending even more at a time when most Californians are struggling to live within their means.

Specifically, Democrats propose to increase taxes on the "wealthy" and on companies.  But, California already has the highest taxes on the "rich" in America.  That's one of the reasons why our tax revenue is so volatile, jumping up and diving down year after year.

In addition, most small business owners pay taxes on their earning as individuals; having the nation's highest personal income tax rate acts as a powerful disincentive to job creation and economic activity in California.  Rather than raising taxes, we should be cutting tax rates to encourage job creation in California.

Lastly, while the Democrats propose spending billions more for welfare, including expanded taxpayer handouts to illegal immigrants, they propose cutting funds to public safety, threatening the loss of more than 1,000 front-line police officers.  In addition, their idea to save money on inmate parolees would have thousands of major offenders go unsupervised on our streets without having to check in with their parole officer.

I'll be going on the John & Ken Show on KFI 640 AM at 5 PM today to discuss the budget and taxes.  You can listen live by clicking here.
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