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Politics : Politics for Pros- moderated
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To: Lizzie Tudor who wrote (14432)10/29/2003 11:15:59 PM
From: Lazarus_Long  Read Replies (2) of 793656
 
Let's look at Personal Income Tax (PIT) receipts and corporate income tax receipts over this period.

1993: PIT $17.469B Corp $4.963B
ftb.ca.gov

2002: PIT $37.6B Corp $7.3B
lao.ca.gov

Now as you can see, PIT has a bit more than doubled. Corporate taxes have not kept up. So in a proportional sense they are paying less, even though they are paying more. Rather interesting to say that more is less, though.

Now the top state income tax rate has not increased during years. It is still 9.3%. The brackets are inflation-adjusted, so they change each year.

Now this leads to the conclusion that you must have had a rather substantial increase in income between 1994 and 2002 for your taxes to increase five times.

And you're complaining. About getting rich.

We have no more money now than in the early 90s (another recession).
That, of course, is nonsense. But we knew that, didn't we?
The increase in corporate taxes collected shows that is quite clearly wrong.

This shows it even more clearly:
216.239.41.104
In 1990 CA's Gross State Product was
In 1990 CA's Gross State Product was

In 1990 CA's Gross State Product was $799B
In 1991 CA's Gross State Product was $815B
In 1992 CA's Gross State Product was $832B
In 1993 CA's Gross State Product was $848B
In 2000 CA's Gross State Product was $1330B
In 2001 CA's Gross State Product was $1359B

Over those years, compensation of employees rose steadily from $448B to $763B. And state tax collections kept pace.

If by "We have no more money now than in the early 90s" you mean that the state budget is a disaster, it has been shown quite clearly that it can be fixed with no new taxes and with not all that much pain (unless, of course, you're one of the state employees that was hired in Davis's wild spending spree).
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