Taxes

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California’s Unexpected Surplus Further Proof Bailout for States Unnecessary

Last week, the nonpartisan Legislative Analyst’s office (LAO) released its fiscal outlook for 2021, which is traditionally the start of the debate over next year’s state budget. Unexpectedly, California finds itself sitting on a $26 billion windfall according to the LAO, attributed to “results from revisions in prior- and current-year …

Blog

How Election Results Will Impact Next Year’s State Budget

Gov. Gavin Newsom had a lot riding on the outcome of Tuesday’s election.  How the presidential and congressional elections and one key statewide ballot measure shake out will have a significant impact on how he crafts his upcoming 2021-22 state budget plan, to be released on Jan. 10. Newsom bet …

Business & Economics

Get government out of the boardroom

At the end of last month, California Gov. Gavin Newsom signed a bill establishing quotas for minorities on the boards of every publicly traded company in the state. That’s on top of a law enacted in 2018 that implemented quotas for women on corporate boards. The governor and his allies …

Blog

Studies Show Wealth Tax Would Hurt California’s Economy

There are no state taxes on wealth in the U.S., but California is a good bet to be the first. The idea carries some political popularity, and its promises sound sweet, but what would be the reality if the legislation, Assembly Bill 2088, becomes law? A couple of Rice University …

Blog

Next Tax Increases on the Docket: Two Proposed Tax Hikes on the Rich

When the 2020-21 state budget was enacted a few months back, I made the case that the majority party’s spending plan essentially sets the stage for an upcoming battle over tax increases. Back in 2011, former Gov. Jerry Brown pushed a budget plan that was heavily reliant on “trigger cuts,” …

Blog

High on Spending, Light on Stimulus: Legislative Democrats Propose $100 Billion Borrowing Plan

This week in Washington, Democrats and Republicans are squabbling over the next economic stimulus package.  Republicans have proposed a roughly $1 trillion plan, while Speaker Pelosi is pushing a $3 trillion plan.  The partisan haggling and negotiations via shuttle diplomacy have already begun. Upon returning from their summer recess, Sacramento …

Business & Economics

Wayne Winegarden Featured in Business Insider Article on Taxing Billionaires, COVID-19

Taxing billionaires would be a great way to fund the fight against coronavirus like AOC says — but only if the US government were drastically different By: Taylor Nicole Rogers, Business Insider The United States needs to find a way to cover the spiraling costs of coronavirus pandemic, but researchers …

Blog

California Gas Prices Are Rising Again Thanks to Another Gas Tax Increase

Californians who are struggling to make ends meet during these tough economic times are going to be in for sticker shock come July 1:  gas prices will rise yet again. What’s behind the increase, you ask?  It’s not due to rising demand as people begin to slowly return to normalcy …

Agriculture

Think July 1 Gas Tax Increase Will Fund Better Roads? Think Again.

On July 1, three days before we celebrate our American freedom, and while we’re still feeling the effects of a three-month loss of that liberty, the state tax on gasoline will increase by 3.2 cents per gallon. It should be enough to ensure California keeps its position as the state …

Blog

Assembly’s Festivus-Style ‘Airing of Grievances’ Does Not Disappoint

In my last blog post, I previewed the Assembly’s unusual “Committee of the Whole” hearing on the state budget, comparing it to Seinfeld’s Festivus “Airing of Grievances.” Little did I know how clairvoyant I really was. Last Tuesday’s five hour session could charitably be called a “gripe fest” as lawmakers …

Blog

California’s Unexpected Surplus Further Proof Bailout for States Unnecessary

Last week, the nonpartisan Legislative Analyst’s office (LAO) released its fiscal outlook for 2021, which is traditionally the start of the debate over next year’s state budget. Unexpectedly, California finds itself sitting on a $26 billion windfall according to the LAO, attributed to “results from revisions in prior- and current-year …

Blog

How Election Results Will Impact Next Year’s State Budget

Gov. Gavin Newsom had a lot riding on the outcome of Tuesday’s election.  How the presidential and congressional elections and one key statewide ballot measure shake out will have a significant impact on how he crafts his upcoming 2021-22 state budget plan, to be released on Jan. 10. Newsom bet …

Business & Economics

Get government out of the boardroom

At the end of last month, California Gov. Gavin Newsom signed a bill establishing quotas for minorities on the boards of every publicly traded company in the state. That’s on top of a law enacted in 2018 that implemented quotas for women on corporate boards. The governor and his allies …

Blog

Studies Show Wealth Tax Would Hurt California’s Economy

There are no state taxes on wealth in the U.S., but California is a good bet to be the first. The idea carries some political popularity, and its promises sound sweet, but what would be the reality if the legislation, Assembly Bill 2088, becomes law? A couple of Rice University …

Blog

Next Tax Increases on the Docket: Two Proposed Tax Hikes on the Rich

When the 2020-21 state budget was enacted a few months back, I made the case that the majority party’s spending plan essentially sets the stage for an upcoming battle over tax increases. Back in 2011, former Gov. Jerry Brown pushed a budget plan that was heavily reliant on “trigger cuts,” …

Blog

High on Spending, Light on Stimulus: Legislative Democrats Propose $100 Billion Borrowing Plan

This week in Washington, Democrats and Republicans are squabbling over the next economic stimulus package.  Republicans have proposed a roughly $1 trillion plan, while Speaker Pelosi is pushing a $3 trillion plan.  The partisan haggling and negotiations via shuttle diplomacy have already begun. Upon returning from their summer recess, Sacramento …

Business & Economics

Wayne Winegarden Featured in Business Insider Article on Taxing Billionaires, COVID-19

Taxing billionaires would be a great way to fund the fight against coronavirus like AOC says — but only if the US government were drastically different By: Taylor Nicole Rogers, Business Insider The United States needs to find a way to cover the spiraling costs of coronavirus pandemic, but researchers …

Blog

California Gas Prices Are Rising Again Thanks to Another Gas Tax Increase

Californians who are struggling to make ends meet during these tough economic times are going to be in for sticker shock come July 1:  gas prices will rise yet again. What’s behind the increase, you ask?  It’s not due to rising demand as people begin to slowly return to normalcy …

Agriculture

Think July 1 Gas Tax Increase Will Fund Better Roads? Think Again.

On July 1, three days before we celebrate our American freedom, and while we’re still feeling the effects of a three-month loss of that liberty, the state tax on gasoline will increase by 3.2 cents per gallon. It should be enough to ensure California keeps its position as the state …

Blog

Assembly’s Festivus-Style ‘Airing of Grievances’ Does Not Disappoint

In my last blog post, I previewed the Assembly’s unusual “Committee of the Whole” hearing on the state budget, comparing it to Seinfeld’s Festivus “Airing of Grievances.” Little did I know how clairvoyant I really was. Last Tuesday’s five hour session could charitably be called a “gripe fest” as lawmakers …

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