Taxing the Rich to Balance State Budget
Re “Solution: Sell the Golden State,” Jan. 11: Steve Lopez suggests that we tax the “rich” more in this state to make up the deficit. My husband and I fall into the “rich” category because our combined income is greater than $250,000 per year. My husband works two jobs; I work many 11-to-12-hour days and most weekends. Between federal and state taxes, we pay more than 50% of our income in taxes each year.
Why don’t we just work less and pay less in taxes? It’s our nature to be ambitious and hard-working. The 11 people I employ depend on me to keep their moderately high-income jobs.
At what point, Mr. Lopez, would you consider that I paid enough in taxes -- 60% of my income? 75%? 80%? Keep up the “tax the rich” trend. The businesses that haven’t been run out of California by high taxes, unrealistic regulations and oppressive workers’ compensation costs will eventually leave as well. You will be left here alone with a few whiners wondering where the tax base and the jobs have gone.
Deborah Wiggins
Claremont
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Raise the tax on those with incomes above $200,000 on the sliding scale suggested in Lopez’s article (from 0.5% to 7%) and we would solve the budget crisis without having to cut back on all the state programs that benefit the middle class and the poor. The “poor” rich would have to spend a little less on their mansions, limousines and travels, but schools and roads could be repaired, police and fire departments would not have to be cut back and the poor could get basic services.
I would be glad to collect signatures for putting this on the ballot, instead of borrowing $15 billion plus interest.
Herb Herr
Pasadena
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Re “Budget Ax Would Fall Heavily on the Poor, Ill,” Jan. 10: Why should local government, fire, police, health, education, library services, college students and the poor make all the sacrifices to balance our state budget? Millionaire and billionaire Californians are in the same state tax bracket as a single person with a taxable income of about $40,000. Furthermore, some wealthy Californians could profit greatly by receiving tax-exempt interest from the $15 billion in bonds that the governor wants to use to balance the budget. Under the circumstances, isn’t it possible that some of those who have profited the most by living and doing business in California would be willing to pay more in taxes to help out in this emergency situation, if only our governor had the courage to ask?
Newell Gragg
Ventura
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I understand that times are tough. But, as a parent of two children in a local community college, the rise in fees is a real budget buster for me. I would like to remind the governor that with this increase the fees have more than doubled, increasing 136%, over a one-year period. This is a faster increase than my auto insurance or health insurance. The future of the economy is an educated population. I wonder how many people we’re condemning to a life at the Wal-Marts of the world.
Dale Proctor
Irvine