Thursday, August 27, 2009

California Legislators: You Know We All Hate You, Right?

Brought to you from the L.A. Times:
"For only the second time in 30 years, the tax board is lowering the point where each tax bracket begins, bumping many people into a higher category. At the same time, officials are cutting back some deductions. Everyone will pay more, even people whose bracket or income doesn't change."

"The extra sums will total as much as $140 per family, on top of the increases previously enacted."

You know what happens when my household income drops, as it will with a tax increase? I spend even less than before and so do a lot of other Californians. So how do you think that will affect California's struggling economy?

Income tax rate increased 0.25%
Dependent Credit slashed more than two-thirds
Vehicle License fee nearly doubled to 1.15% of cars value
Lowering tax brackets to bump more Californians into higher tax brackets....priceless.

No comments:

Post a Comment