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To: robert b furman who wrote (35105)11/8/2008 3:22:50 PM
From: da_cheif™  Read Replies (2) | Respond to of 207907
 
guess we shud move to canada eh....lol



To: robert b furman who wrote (35105)11/8/2008 3:31:15 PM
From: Whitebeard  Read Replies (1) | Respond to of 207907
 
Tax hike, budget cuts proposed
By Rebecca Kimitch, Staff Writer
Article Launched: 11/06/2008 09:59:32 PM PST

California Governor Arnold Schwarzenegger points out how California receives much of its revenues from capital gains tax as he calls state legislators to a special session to address budget concerns November 6, 2008 in Sacramento, California. The state's budget deficit has ballooned to $11.2 billion in just the past few weeks, and Schwarzenegger called for budget cuts and a tax hike. (Photo by Max Whittaker/Getty Images)

Gov. Arnold Schwarzenegger proposed Thursday slashing school funding and raising the state sales tax by 1.5 percent for three years to help cover a California budget deficit that has quickly ballooned to $11.2 billion.

The shortfall is higher than anyone anticipated since the budget was passed six weeks ago and now amounts to 11 percent of the general fund. Officials painted an even bleaker picture of the future, saying the deficit could easily double by 2010.

pasadenastarnews.com