By Jon Coupal | No one disputes that California has a big budget surplus. According to the Office of the Legislative Analyst, California has budget reserves in excess of $18 billion. Our budget reserves exceed the entire state budget of eighteen other states.
One would think that the funds available for discretionary spending would chill any appetite for higher taxes. But this is California.
Despite the highest income tax rate, the highest state sales tax rate and the second highest gas tax, both our newly elected governor and our extremely progressive legislature desire to impose yet even higher taxes.
The most surprising thing about two of the new tax proposals is that they hurt the very groups the majority party claims that it is trying to help.
During his tenure as governor, Jerry Brown succeeded in shepherding through several tax hikes. However, he was unsuccessful in pushing a new 911 surcharge and a precedent-setting tax on water.
But as is common in California, new tax proposals never really die and these two have been resurrected in Gov. Newsom’s proposed budget.
To read the entire column, please click here.