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Further tax increases unlikely despite California's $19 billion budget deficit
Further tax increases unlikely despite California's $19 billion budget deficit
With less than three weeks until Gov. Arnold Schwarzenegger unveils his revised budget plan for the fiscal year starting July 1, he and the Democratic majority Legislature have done little to reduce the state’s projected $18.8 billion budget shortfall. Almost the only thing they have accomplished is agree that increasing taxes won’t be part of whatever solution they stitch together over the next 10 weeks.  “In this budget I refuse to raise taxes because there are so many other areas where Sacr
22 Apr, 2010
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7 min read
Over half of state unemployment insurance funds face insolvency
Over half of state unemployment insurance funds face insolvency
A significant – and often overlooked -- result of what’s been dubbed the Great Recession is that in just over half of the 50 states, the programs that pay unemployment insurance to workers who’ve lost their jobs are insolvent, leading states to borrow more than $39 billion from the federal government to keep writing checks. California, which has the largest unemployment program in the country, has the dubious distinction of leading 34 other states and the Virgin Islands in borrowing:  $8.5 bil
08 Apr, 2010
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6 min read
California legislature takes aim at budget reform
California legislature takes aim at budget reform
“Reform” is in the eye of the beholder. One policymaker’s idea of improvement is another’s disaster.  Those differences in viewpoint have become apparent as California’s Legislature begins debating a package of procedural changes that would dramatically affect how the state creates its annual budget and ease the ability of local governments to raise taxes. “Things are badly broken here in California. The root cause is a flawed budget system,” former Secretary of State Bruce McPherson, a Santa
26 Mar, 2010
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5 min read
Jesse Ventura calls out Democrats, Republicans, and the Tea Party
Jesse Ventura calls out Democrats, Republicans, and the Tea Party
In a Larry King Live interview, Jesse Ventura, the former Independent Governor from Minnesota, warned that the two major parties were "leading us down the road to ruin".  In classic Ventura style, the Navy veteran urged Americans to wake up and stop voting for Democrats and Republicans since they have repeatedly demonstrated that party politics comes before the best interests of the people.  And when asked about the Tea Party, Ventura challenged their silence on critical constitutional issues in
10 Mar, 2010
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1 min read
Internet Sales Tax - AB 178
Internet Sales Tax - AB 178
A little over a week ago Amazon sent a letter to California legislators threatening to end its business with marketing affiliates if legislation was passed imposing sales tax for internet purchases on companies such as themselves. AB 178 is the bill in question, which Amazon alleges is “unconstitutional,” and is similar to that of New York’s bill last year (which Amazon and Overstock have also contested). The bill could raise $150 million in state revenues. Of course, if they discontinue their
02 Jul, 2009
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1 min read
State Lawmakers Overseas During Budget Crises
State Lawmakers Overseas During Budget Crises
A few days ago, we reported that Gov. Schwarzenegger organized a lavish conference with world leaders on environmental concerns. Now, the Sacremento Bee reports that several California lawmakers are attending conferences all over the world.  Yet, CAIVP has just received exclusive inside information that California is facing a budget crisis, leaving us pondering: where are our leaders and what are they going to do about our money problem?  From the Bee: More than a dozen state lawmakers have mis
19 Nov, 2008
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1 min read