Category: Taxes

What We Cannot Influence

Some GFC'ers have asked us about two tax increase measures potentially on the November ballot. After responding with our view that the state already generates sufficient revenue with which it produces poor value, we remind inquirers that GFC doesn't compete in the ballot measure marketplace. While we have competitive edges in assembling the capped direct contributions … Continue reading What We Cannot Influence →

Tax Increases

The Service Employees International Union (SEIU), one of the largest recipients of government spending in California, has been putting the following questionnaire in front of candidates for the legislature: Do you support increasing corporate taxes in order to strengthen and expand public services and create the conditions for all Californians to thrive? If so, please … Continue reading Tax Increases →

38 or 76 Angels on CA’s Pin?

Dear Legislators,The 2020 Budget Act you enacted 11 months ago forecast the S&P 500 to be at 2,060 in the first quarter of 2021. But because the S&P 500 closed the quarter at nearly twice that level and CA tax revenues are correlated with stock markets, revenues are way ahead of forecast. When it comes … Continue reading 38 or 76 Angels on CA’s Pin? →

CA’s Revenue Forecasts

24 months ago, California's Department of Finance forecast $151.8 billion of revenues in 2022-23 from the three largest sources: 12 months later, DOF revised that forecast down $30 billion: 12 months later, DOF revised it up $53 billion. The reality is that neither DOF nor anyone else has any idea what California's tax revenues will be in 2022-23 or … Continue reading CA’s Revenue Forecasts →

DOF’s March Finance Bulletin

Dear Legislators, As usual, DOF's latest Monthly Finance Bulletin is filled with data of relevance to your responsibilities:Jobs: California's unemployment rate fell to 8.3 percent, still much worse than the national unemployment rate, which fell to 6.0 percent. Our non-farm job levels are still 1.6 million below the pre-pandemic level of 17.6 million and Personal … Continue reading DOF’s March Finance Bulletin →

Hoover Institution: Bipartisan Opportunism Is to Blame for California’s High Tax Rate

Conventionally, Ronald Reagan is characterized as conservative. But as a first-term governor of California in 1968 (Reagan earned the job in 1966, denying Pat Brown a third gubernatorial term), he signed the Meyers-Milias-Brown Act, which endowed police and other local personnel with the power to bargain collectively with the governments that employed them, handing political power … Continue reading Hoover Institution: Bipartisan Opportunism Is to Blame for California’s High Tax Rate →

Tax Increase Proposals

Last year we spent as much time blocking tax increase proposals as liberating nurse practitioners. This year will be the same. Reform efforts will focus on OPEB and tenure but at least as much time will be devoted to blocking tax increases, bills to extend collective bargaining rights to legislative staff, and more. Proposals to … Continue reading Tax Increase Proposals →

David Chiu and Luz Rivas

CA State Assemblymembers David Chiu and Luz Rivas were early supporters of our nurse practitioner bill, helped stop a bill targeting Teach For America, are potential supporters of retirement and education reforms, and are better for GFC than Sanders-backed opponents in their left-leaning districts. But also they co-authored a noxious tax increase bill that GFC … Continue reading David Chiu and Luz Rivas →

A Tale of Two Pandemics in California

We are eager for January 4 to arrive as that’s when the California Legislature reconvenes. All Californians need attention but two groups in particular — blue collar workers and families with kids in public schools — are in special need of attention. Most public school students are still not in classrooms, distance learning results are … Continue reading A Tale of Two Pandemics in California →