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Day 48 without a Budget--Democrats Lower Tax Increases, Raise Deficit for Next Year

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As this is being written, the State Assembly is debating a budget that NONE has seen. They only have a "summary" of the proposal. Somewhere in the Capitol there is a copy, I guess.

There is good news!!! The Democrats have decided to take two of their tax increases off the table. From the live blog of John Myers of KQED, Sacramento:

"Also worth noting: Assembly Democrats have dropped two of their tax increase plans from a few weeks ago -- the cancellation of expected "indexing" of tax rates for upper and upper-middle income earners (it would have given the state an extra $815 million) and a lowering of the taxpayer credit for having a kid (which would have brought in an extra $215 million)."

But, since they are NOT cutting anything from the additional $3 billion in spending, this just adds to the already PLANNED $10 billion in deficits for next year.

Want to see the complete Democrat plan to bankrupt California families and businesses? Go here.

My "favorite" Democrat tax increase is this one:

"Restoration of a higher tax on many businesses that existed prior to 1997, generating $470 million"

In other words, if your business is twelve years old, or older, they are really trying to kill you. Guess the Democrats don't like "old" businesses.

Possibly sometime tonight the Assembly will vote. Not a single GOP'er is in favor of it, and it appears that some Democrats are concerned about voting for a massive deficit and massive tax increase, at the same time. They prefer separate votes on those things.

The really good news is that the Democrats understand massive tax increases don't work--you can expect less tax increases as the days go on. But, until they start cutting spending (oh, education funds are being INCREASED, the CTA and all those educrats are LYING about education cuts) we will be in trouble.

Oh, and the Guv had surgery on his knee today.

Now we need someone to do surgery on the budget.

I had predicted the budget would be passed by August 23, so the Democrats can see the Barack and Clinton show in Denver. But it is looking like my original prediction of October 3 for passage of the budget might actually can true. The Guv has announced he is prepared to skip the Republican National Convention in Minnesota. so he is getting ready for the long haul--plus, he can't go, and not because of the budget.

He has been summoned by Clark Kelso, the court appointed Prison Czar (who demanded the Guv steal $2.5 billion from the Treasury) to a deposition, to explain why he would not steal the money--and that is set for September 3--in the middle of the GOP convention.

If you want to watch the live blogging of thr Assembly budget debate, go here.

About this blog...

Frankly Speaking is a blog dedicated to the new technology, interaction by concerned citizens about policy and politics in Ventura County or affecting our county.

Have tips, information or concerns, contact me directly at stephenfrank@sbcglobal.net.


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About this Entry

This page contains a single entry by stephen frank published on August 17, 2008 5:53 PM.

Day 46 Without a Budget--State Continues to Tank was the previous entry in this blog.

Democrat Tax Increases and Budget Deficit Defeated in State Assembly is the next entry in this blog.

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