Steve Westly and Phil Angelides are both liberal democrats. If you want them, you will get them. If you get them, your taxes be increased and the public debt will balloon out of control. Don't be fooled at the 'close the loopholes and make government work more efficiently' line when asked how they will raise the billions in extra spending their amigos in the democratically controlled legislature send to them every year. They are close to sending a 34 billion dollar bill to our children right now. That money will have to be paid back. But have no fear, the democrats know how to close the gaps in the budget. Phil?
Angelides sees no problem in putting his own $2 billion-plus tax increase on top of the Prop. 82 increase.
"The wealthiest Californians have received $17 billion in tax breaks in recent years,'' Angelides said. "Even with the passage of Prop. 82 there's plenty of room to find rollbacks ... it's a pittance.''
The preschool initiative is the one exception to Westly's "taxes as a last resort" pledge, his spokesman said.Last resort? Sure Steve.
The way to raise the money the State needs is to make the rich 'pay their fair share'. Ok, then what?
What will they do when the legislature spends even more money the next year, since we are now soaking, I mean making the rich pay their fair share? In two years, the tax revenue paid by the rich will start to trend downward. They rich will move, or at least move their official residence to a place without state tax, like Florida. They may live hear most of the time, but as far as the Franchise Tax Board is concerned, they just have a rental property in the Golden State.
The Business owners without that option will do what they always do when taxes cut into the bottom line, write a few pink slips. Labor, that means people with jobs, are the most costly item on the books, so the a few hundred thousand Californians will head to the unemployment line. Back to Westelides or Angewestly, which ever you prefer.
If they are elected, wait until the second year of their term. The first year they will cook the books by moving money around to make you think they have the budget under control, but the bill will come do in that second year. That is when they will call for an across the board tax increase, but just back to where the were a few years ago, that fair right? Everyone needs to help out the schools and the teachers right? Right.
With democrats in control of the legislature and the Governors office, the spending and union contracts will keep rising at a double digit rate. The third year will bring a collection call from all those spending programs. Tax, spend, tax, spend,,,, CRASH. Woops.
Californians will ask how did we get 30 billion dollars in the hole again?