Posts Tagged ‘ taxes ’

Gov. Schwarzenegger Pushes New Tax Hikes for California

Gov. Arnold Schwarzenegger called for a sharp increase in the state’s sales tax, as well as new taxes on oil drilling and alcoholic drinks to help pay for a budget shortfall of billions of dollars.

Central to his plan would be a sales tax increase of 1 1/2 cents from its current rate of 7.25 percent on the dollar to raise $10.8 billion. Republicans in the state have firmly opposed any tax increases.

Proposed new taxes include an immediate, three-year increase in the sales tax by 1.5 cents on the dollar; broadening sales and use taxes to items such as car repair, golf and veterinary services; a tax on oil extraction in the state; and an increase in alcohol taxes. The temporary increase would push the state portion of the sales tax to 8.75 percent, before any local sales taxes were considered.

A broad range of proposed budget and program cuts would require state workers to take one work day without pay a month and eliminate two state holidays and premium pay for hours worked on other holidays. The governor is also proposing changes to allow state agencies to establish four-day work weeks.

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(Video) John and Cindy McCain Interview

McCAIN 2008 vs McCAIN 2000 on Wealthy Paying More Taxes

Audience member: “Why is it that someone like my father who goes to school for 13 years gets penalized in a huge tax bracket because he’s a doctor.”

McCain: “I think it’s to some degree because we feel obviously that wealthy people can afford more.”

Audience member: “Are we getting closer and closer to, like, socialism?”

McCain: “Here’s what I really believe: That when you reach a certain level of comfort, there’s nothing wrong with paying somewhat more.”

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