The views expressed in any article published in this blog are the author's own and do not necessarily reflect the views of Joseph Foster or Bob Lupoli.

Friday, February 3, 2012

Buffett Rule would affect about 0.08% of taxpayers

Joe: you may remember Michael Kinsley from an older show called “Crossfire” Today in the LA Times he’s written about what the left really wants to do and that’s raise taxes on the middle class. I respect MK because I think he is honest in presenting his view unlike Obama and his class warfare rhetoric. Finally some honesty from the left, he said, “Citizens for Tax Justice, a liberal tax reform group, figures that the Buffett Rule would affect about 0.08% of taxpayers…” and “But it can't just be a tax on Warren Buffett and his peers. It will have to be a tax on you. (meaning the middle class).

Raising taxes really isn’t the answer. California has some of the highest rates in the country and they just continue to spend more than they have. The thing is they always have a built in excuse for why they speand so much, teachers, police men, etc…. -Bob

California will run out of cash
January 31, 2012

The announcement is surprising since lawmakers previously believed the state had enough cash to last through the fiscal year that ends in June. But Chiang said additional cash management solutions are needed because state tax revenues are $2.6 billion less than what Gov. Jerry Brown and state lawmakers assumed in their optimistic budget last year.

Meanwhile, Chiang said, the state is spending $2.6 billion more than state leaders planned on.

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