Friday, February 13, 2009

Counterproductive tax policies...

How does this encourage me to spend or hire?

Schwarzenegger, legislative leaders settle on budget framework

"Californians would also take a substantial hit to their wallets.Vehicle license fees would nearly double, going from the current rate of 0.65% to 1.15% of the value of a car or truck. The sales tax would increase by 1 cent, raising the rate in Los Angeles County to 9.75%. Gasoline taxes would increase by 12 cents a gallon. And residents would pay a new surcharge on personal income taxes, amounting to 2.5% to 5% of their total tax bills, depending on how much federal money California gets."

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