March 29, 2012 |
SACRAMENTO - An elected state tax collector wants to save strapped California motorists money by freezing the sales tax on gasoline whenever the pump price jumps above $4 a gallon. The idea, said George Runner, a Republican member of the State Board of Equalization, is to put a few bucks back in consumers' pockets rather than provide a small windfall to local governments. Gasoline prices in California averaged $4.33 on Wednesday, according to AAA's Daily Fuel Gauge Report.
March 19, 2011 |
Just days before investors would have their say on Walt Disney Co.'s executive pay, the entertainment giant changed the contracts of its top executives to remove a generous perk that had come under fire from an influential shareholder advisory firm. The company said it would no longer pay the taxes on any severance package for Chief Executive Robert A. Iger and three other senior executives in the event they lost their jobs in a sale or merger of the Burbank entertainment company.
February 25, 2011 |
Let's call it what it is: a sin tax. A California lawmaker is targeting the obesity epidemic with a tax that would slap a penny-an-ounce levy on drinks sweetened with sugar or corn syrup. The food industry, not surprisingly, has squared off against the idea, arguing that the tax bill is a punitive assault on personal choice. "The government doesn't have the right to social engineer," said J. Justin Wilson, senior research analyst at the industry-backed Center for Consumer Freedom.
April 8, 2010
Tax hikes related to healthcare The new healthcare law imposes several tax increases, but most do not take effect immediately, and most apply only to upper-income Americans. Revenue estimates are over 10 years, 2010 through 2019. Medicare taxes, effective 2013 ($210.2 billion) Payroll tax increases from 1.45% to 2.35% on wage income over $200,000 for individuals; over $250,000 for couples. For taxpayers in that bracket, a new surtax of 3.8% on investment income.
March 23, 2010 |
Following their decisive healthcare defeat in the House, Republicans on Monday prepared a three-pronged effort to wage a continuing fight against the bill -- beginning with a drive this week to stall follow-up legislation in the Senate. And even before the healthcare bill has become law, Republicans are backing an effort by a dozen state attorneys general to challenge the bill's constitutionally in court, and they are making it a 2010 campaign priority to call for the law's repeal.
February 14, 2010
There they go again with their raids and gimmicks, right? Last month, Gov. Arnold Schwarzenegger proposed eliminating the sales tax on gasoline but raising a separate excise tax almost, but not quite, as high, so taxpayers would feel like they're getting a break at the pump. But the scheme eviscerates Proposition 42, a 2002 voter initiative designed to put an end to transportation fund raids, and wipes out funding for public transit. Now Senate Democrats are countering with a plan that raises the excise tax by an additional nickel and uses that amount to fund transit -- while getting around the two-thirds vote requirement for raising taxes and still gutting the initiative.