Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-19-2009, 04:32 PM
 
26,680 posts, read 28,667,610 times
Reputation: 7943

Advertisements

Now that the budget has passed, the sales tax in L.A. County will be going up to 9.75%, and the top tier of the state income tax will be going up to 10.5%.

How will this encourage growth in the L.A. economy? (Hint: It won't.)
Reply With Quote Quick reply to this message

 
Old 02-19-2009, 05:51 PM
 
Location: Planet Earth
1,084 posts, read 3,288,018 times
Reputation: 857
How do you encourage growth in LA county? Scare all the people away!
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 09:46 PM
 
Location: Way on the outskirts of LA LA land.
3,051 posts, read 11,591,920 times
Reputation: 1967
When I read about this, it makes me glad I don't live in L.A. County any more. I still do a lot of my shopping there, but that will probably decrease in the future. So, back to the original question...
How will this help the economy? I sure don't know, since I'll be spending less in taxes, just like lots of other folks. I'm just glad I've already acquired most of the things I want.
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 10:05 PM
 
11,715 posts, read 40,449,173 times
Reputation: 7586
This is going to be like the tax hikes of the early 90's when tax revenue actually went down. Remember the junk food tax? If anything, it'll be worse this time around thanks to Craig's List and Internet shopping in general. Its so much easier to make your purchases outside the normal retail channel now.
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 10:31 PM
 
Location: Earth
17,440 posts, read 28,600,002 times
Reputation: 7477
Quote:
Originally Posted by AnUnidentifiedMale View Post
Now that the budget has passed, the sales tax in L.A. County will be going up to 9.75%, and the top tier of the state income tax will be going up to 10.5%.

How will this encourage growth in the L.A. economy? (Hint: It won't.)
Agreed about sales taxes. California's dependence upon regressive taxation such as sales taxes, fines, and fees are at the core of its fiscal problems (and also do a great deal to make California less business-friendly).

Even FDR, hardly a fiscal conservative, understood that high sales taxes don't work. He knew sales taxes discouraged economic growth and IIRC he sacked members of his administration for advocating a national sales tax to help finance WW2.

Repealing Prop 13 and making CA less dependent upon regressive taxation would do a great deal more good for the economy.
Reply With Quote Quick reply to this message
 
Old 02-19-2009, 11:18 PM
 
3,681 posts, read 6,274,075 times
Reputation: 1516
Happy to be making my escape July 1st! Great timing!
Reply With Quote Quick reply to this message
 
Old 02-20-2009, 10:50 AM
 
Location: ?????????????
293 posts, read 893,486 times
Reputation: 280
Question So what's next?

They going to tax our taxes...
Reply With Quote Quick reply to this message
 
Old 02-20-2009, 11:42 AM
 
Location: South Bay
7,226 posts, read 22,194,951 times
Reputation: 3626
i'm still all for the full legalization of marijuana!!!! Not only could the state bring in taxes/fees from the sales and would also open up lots of space in our already overcrowded prisons. I'm sure that would also free up some cash for things like schools and roads.
Reply With Quote Quick reply to this message
 
Old 02-20-2009, 04:34 PM
 
2,589 posts, read 8,638,569 times
Reputation: 2644
In the year and a half since I began posting here, I have moved into the "can't wait to leave" camp. I will miss the variety of food available here, and I will probably be cold a little more often that I would prefer, but those things are no longer reason to stay. This state already takes too much of my money, and I'm sick of it.
Reply With Quote Quick reply to this message
 
Old 02-20-2009, 08:31 PM
 
28,115 posts, read 63,666,290 times
Reputation: 23268
Quote:
Originally Posted by majoun View Post
Agreed about sales taxes. California's dependence upon regressive taxation such as sales taxes, fines, and fees are at the core of its fiscal problems (and also do a great deal to make California less business-friendly).

Even FDR, hardly a fiscal conservative, understood that high sales taxes don't work. He knew sales taxes discouraged economic growth and IIRC he sacked members of his administration for advocating a national sales tax to help finance WW2.

Repealing Prop 13 and making CA less dependent upon regressive taxation would do a great deal more good for the economy.
Repealing Prop 13 would be the death of California... it is the ONLY thing keeping many of today's seniors from being forced from their homes of many years.

If the legislature would have indexed the Home Owner Exemption so that it remained viable... I seriously doubt Prop 13 would have ever come into being.

Retired people generally have a fixed or limited income without the ability to go out and earn more... coupled with the severe financial loss of the millions of IRAs is a recipe for disaster...

Repealing Prop 13 is the equivalent of forcing regressive taxation on those most vulnerable..

I had a choice whether to buy my home or not... I knew my taxes would be many times higher than the elderly sellers were paying. Because of Prop 13 I also know the base rate is fixed at 1% plus the many taxes in excess of Prop 13 approved by the voters of my City and County.

As to Regressive Taxation... I like the idea of a flat or proportional tax on income where the tax rate is fixed as the amount subject to taxation increases... it only seems fair

Last edited by Ultrarunner; 02-21-2009 at 01:08 AM.. Reason: wording
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > Los Angeles
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top