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Won't work at the city level, tho. Many cities could shut EVERYTHING down and it will only make a small dent in their liabilities.
I would have expected hefty tax increases instead.
I was hoping not to have to move To Tennessee. Or Texas. Or Florida. Are there any parts of Nevada that aren't barren and don't suffer extreme temperatures?.
Booger saysWith the highest or among the highest sales tax and income tax in the nation, California will have to cancel all or part of Prop 13 to unlock a huge revenue stream on real estate. Funny thing was that for the last few years I thought I was told CA is running a tax surplus that was being stocked away for a rainy day.I would have expected hefty tax increases instead.Oh, it's coming, make no mistake. They can't do it right now because it needs to be on the ballot, but it's coming.
FuckCCP89 saysBooger saysWith the highest or among the highest sales tax and income tax in the nation, California will have to cancel all or part of Prop 13 to unlock a huge revenue stream on real estate. Funny thing was that for the last few years I thought I was told CA is running a tax surplus that was being stocked away for a rainy day.I would have expected hefty tax increases instead.Oh, it's coming, make no mistake. They can't do it right now because it needs to be on the ballot, but it's coming.
The agreement avoids billions of dollars in permanent cuts to public schools and health care programs, including proposals from Newsom that would have made fewer low-income older adults eligible for government funded health insurance and would have eliminated programs aimed at keeping people out of nursing homes where the coronavirus has spread with deadly consequences.
Instead, the agreement would make up the deficit in part by imposing $2.8 billion in pay cuts to state workers and delaying roughly $12 billion in payments to public schools to future years. The rest would come from borrowing from some restricted funds that must be paid back, spending cuts to other programs and temporary tax increases on businesses that would bring in $4.4 billion in new revenue.
Some of those cuts and delayed payments would be eliminated if the federal government sends the state more aid by October.
https://www.sfgate.com/news/article/California-governor-lawmakers-agree-how-to-close-15357413.php