The IRS announced that Tax Day will be April 18th this year because the 15th is a holiday in D.C. so it cannot be that day. Yesterday's Wall Street Journal had some interesting statistics from the Tax Foundation on where we stand tax-wise in the country vs. the other 49 states. Here's our ranking:
Individual income taxes 48th
Corporate taxes 33rd
Sales taxes 49th
Property taxes 16th
Overall 49th
Ouch! 49th overall. The editorial goes on to say "Mr. Brown will then honor his campaign promise to take a tax increase for voter approval in a June referendum." We'll be watching for that!
Interesting California reform initiative, with financial backing (I read about it in today's Financial Times - they require subscription for access, so here's a related story from the Sacramento Bee):
http://www.sacbee.com/2010/12/25/3280493/nicolas-berggruen-invests-in-california.html
Posted by: Account Deleted | January 06, 2011 at 04:46 PM
Very interesting article, Lorne. Perhaps the Think Long Committee could team up with California Forward, which is arguing for fundamental changes in the way our state works.
Posted by: Terry Nagel | January 07, 2011 at 06:01 AM