Re "Davis Calls for Severe Cuts, Tax Changes," Jan. 9: Gov. Gray Davis' call to restructure California's revenue system in the current fiscal crisis is a smokescreen. The problem with the state's budget is not the source of its revenue but rather the irresponsible use of its revenue.
It doesn't take a financial wizard to have foreseen that the surge in tax revenue during the late-'90s economic boom and dot-com excess was not sustainable. Our politicians were shortsighted in spending the windfall on programs that require ongoing funding rather than paying down debt or repairing existing infrastructure.
It's convenient to claim that the structure of our tax system caused the crisis.
Today's news highlights two leaders with different solutions to financial problems.
President Bush plans to offer us a bold tax cut to spur financial growth, believing it the way to create fiscal stability. Gov. Davis' agenda involves raising our taxes and selling it as "structural reform," hoping to salvage his political career while avoiding state bankruptcy.