I was talking with someone last night about the California Prop 30, which raises sales tax from 7.25% to 7.5% and raises income taxes from 9.3% to 10.3%. But that’s not enough.
Prop 30 gets even more taxes after being voted in by reaching into history to take taxes from before it was law. Having seen this concept once, now I see this even more in the news. It is the new solution to solving the unsolvable problem of spending and taxes and debt and fiscal cliffs.
Tax History! This new concept gives all sorts of new revenues.
From zerohedge.com, I read this morning, “The fiscal cliff does not have to get resolved by December 31, since some items can be resolved in the spring and back-dated.” Yup, that’s the way it’s going to be done!