BeyondChron: San Francisco's Alternative Online Daily News » SF Chronicle, LA Times Spread Phony Tax Hysteria:
"Our state is in a fiscal crisis, Republicans refuse to let us pass a single tax increase whatsoever, we don’t tax oil companies for their profits, and the legislature just passed a budget that makes $15 billion in dreadful cuts to education and health care, and $11 billion in reckless borrowing. Yet, both papers are alarmed that – due to a technicality in state law – your taxes may go up another $40 this year. California’s income tax brackets get adjusted annually to account for the Consumer Price Index, and it means this year some incomes will fall into a higher tax bracket."
"Our state is in a fiscal crisis, Republicans refuse to let us pass a single tax increase whatsoever, we don’t tax oil companies for their profits, and the legislature just passed a budget that makes $15 billion in dreadful cuts to education and health care, and $11 billion in reckless borrowing. Yet, both papers are alarmed that – due to a technicality in state law – your taxes may go up another $40 this year. California’s income tax brackets get adjusted annually to account for the Consumer Price Index, and it means this year some incomes will fall into a higher tax bracket."
