Taxing Business Away in California
“The virtual collapse of Internet technology businesses” isn’t responsible for the “precipitous drop” in income tax receipts (editorial, Dec. 10). California’s budget problems developed from a reliance on indefensibly high taxes, particularly relative to capital gains, which California unbelievably treats as ordinary income, which will plummet from nearly $20 billion in 2000 to about $4 billion this year. Isn’t Sen. John Burton (D-San Francisco) aware that taxpayers can choose to leave the state, as Tiger Woods did, because of high California taxes?
James Schmitt
Camarillo
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Re “Davis Faces a Fight With Legislators on Budget Cuts,” Dec. 10: If the proposed $3.2-billion cut from public education becomes reality, the result will be the creation of the largest state-run “child-care” system. On the other hand, it is comforting to know that the future of California’s fast-food industry is secure. “Would you like fries with that?”
Liz Potter
Saugus