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Tax Revenues

In what has become an annual ritual, the Los Angeles County Board of Supervisors on Tuesday shook out all the old purses and checked pockets for the spare change--make that spare millions--that is badly needed to balance the precarious $14.5-billion budget. Three months into the new fiscal year, the time had come for the supervisors to finalize the annual spending plan, and as in most years they were facing more needs than revenues.
This is the Southland's Big Sur, the final stretch of pristine coastline in Southern California--20 miles of mesa stretching from this oceanfront suburb up the coast to Gaviota. Still undeveloped--but also unprotected--this swath of shoreline is home to great blue herons, snowy egrets, red foxes and great-horned owls. Rolling fields are carpeted with mustard, lupine and thigh-high grass. Monarch butterflies roost in stands of eucalyptus.
August 5, 2012 | Michael Hiltzik
Promoters of ideological campaigns just love college professors. That may sound implausible, but it's not so hard to understand: Attaching a professor's name to your cause confers instant credibility and projects objectivity, there are lots of professors around, and their professional work may be so technical and abstruse that no one will know if they really do support your position. As a result, it's a rare campaign that won't at one point or another publish a list of faculty members, jangling with PhDs, backing it up. One wonders if that explains the strange relationship between the right-wing multimillionaire Joe Ricketts and Selahattin and Ayse Imrohoroglu, a Turkish-born husband-and-wife team of economists at the University of Southern California.
November 22, 2012 | By Lisa Mascaro, Washington Bureau
WASHINGTON - When Republicans in Congress say they are willing to put tax revenues on the table in budget talks with President Obama, that offer obscures a divide within their ranks that could thwart a year-end fiscal compromise. Most Republicans are willing to limit popular income tax deductions as part of a tax overhaul that also lowers rates - a combination they believe will spur economic growth and eventually produce more revenue. But some are less enthusiastic about simply capping those deductions alone, even on upper-income households as Obama prefers, which would create immediate revenue that can be applied to a broad deficit-reduction package.
July 22, 2011 | By Lisa Mascaro and Christi Parsons, Washington Bureau
As President Obama pushed hard for a grand deal to reduce the federal deficit, he ignited a furor among congressional Democrats on Thursday by appearing to retreat from his insistence that spending cuts and revenue increases be included in the same package. The White House briefed Democratic leaders on a possible $3-trillion deficit-reduction deal, the latest in a rapid-fire series of proposals aimed at winning congressional approval for an increase in the nation's $14.3-trillion borrowing limit before Aug. 2. That's when the government is expected to run short of funds and risk defaulting on its debt.
August 30, 1991 | From Times Staff and Wire Reports
There were no signs of an economic recovery in the latest batch of tax revenue figures from state governments, according to a study. California showed a 4.9% drop in revenues as overall second-quarter tax revenues rose a meager 2% over the same period of 1990, the Center for the Study of the States reported. If tax rates had not been raised in some states last year, the nationwide revenues would have declined by 1%, the center said.
November 3, 1991
After you're done gasping, you realize there must be a mistake or the article is poorly organized. Walnut's City Council will "pursue the annexation of Forest Lawn Memorial Park . . . to bolster the city's tax revenues" (Times, Oct. 13). The process begins by requesting that the "Forest Lawn cemetery be placed within Walnut's 'sphere of influence.' " Taxes from the cemetery! And we only thought we got away after death! What tax revolt can possibly arise from this--Proposition Deep Six?
June 27, 2011 | By Lisa Mascaro
President Obama is convening the top two Senate leaders at the White House on Monday to restart debt negotiations after talks imploded last week over taxes and both sides struggle to reach agreement with a fast-approaching deadline. It marked a crucial moment as both sides hoped to resolve the impasse to send a message to jittery financial markets well in advance of the Aug. 2 deadline. That goal now seems in doubt. The nation risks unprecedented federal default in August if the nation fails to raise the $14.3-trillion debt limit and allow further borrowing.
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