State Tax Cut
Here we go again. This time it’s a permanent cut in state taxes to business and banks of $230 million a year (June 29). I suppose this will be in addition to the benefits to corporations that are usually rushed through at the end of each legislative session. Gov. Pete Wilson gives us the phony excuse that it will help keep California more competitive. I say phony, because the economy is expanding despite the present tax rate.
The irony is that some of these corporations run profitable factories in European countries where they pay much higher taxes than they do in the U.S.
SOL LONDE
Northridge
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