Thursday, November 6, 2008

Schwarzenegger Proposes California Sales Tax Increase to 10.25%

California Governor Arnold "If My Bodyguards Lets Me" Schwarzenegger unveiled a plan today for a steep sales tax increase, new levies on alcoholic drinks and the oil industry, and deep cuts in services to wipe out a budget shortfall that is expected to swell to more than $24 billion by the middle of 2010.

The linchpin of the plan is the sales tax increase of 1 1/2 cents on the dollar, which could raise $10.8 billion through fiscal 2009-10. ...

Tax hikes during a recession, helluva a move, Governor.

No comments:

Post a Comment