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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (485473)	6/4/2009 11:44:20 AM
From: tejek	Read Replies (1) of 1573941

in addition to putting a cap on the tax rate, Prop 13 requires that any tax increase be approved by a 2/3 vote. Any property tax increase, not any increase of any kind. That's wrong: "In addition to lowering property taxes, the initiative also contained language requiring a two-thirds majority in both legislative houses for future increases in all state tax rates or amounts of revenue collected, including income tax rates. It also requires two-thirds vote majority in local elections for local governments wishing to raise special taxes. " en.wikipedia.org From your article: "Rough calculations indicate that California taxes will decline, in relationship to personal income, by a full percentage point, to just about where they were after Proposition 13 passed in 1978. And our rankings vis-a-vis other states will also drop to somewhere in the middle, maybe 24th or 25th, just about where we were in 1979 as well." Since 1979, CA has gotten much bigger and poorer and yet, its taxes haven't changed.

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