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Brown's Tax Hikes Would Kill California Comeback

By IBD, Investor's Business Daily - January 7, 2012

As California enters a second decade of decline, its old-new Gov. Jerry Brown has a plan for its revival: A 7% rise in government spending, with a tax hike to match. This is innovative thinking?

To call Brown's latest plan foolish does a disservice to fools. At least fools make you laugh. After reading Gov. Moonbeam's latest budget, taxpayers might want to cry.

Under his proposal, Brown would raise taxes on those earning more than $250,000 to 10.3% from 9.3%, while boosting sales taxes to 7.75% from 7.25%.

 

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