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SVTPerformance's Chain of Restaurants
A Taste of Home
California
[[Big California Tax Hike]]
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<blockquote data-quote="OCSnk" data-source="post: 7407834" data-attributes="member: 20042"><p><span style="font-size: 18px">Schwarzenegger: $4.4B in tax hikes to end deficit</span></p><p></p><p><a href="http://www.breitbart.com/article.php?id=D949JG0O3&show_article=1" target="_blank">http://www.breitbart.com/article.php?id=D949JG0O3&show_article=1</a></p><p></p><p>SACRAMENTO, Calif. (AP) - Gov. Arnold Schwarzenegger has proposed $4.4 billion in tax increases and billions more in spending cuts to close California's worsening budget deficit, declaring: "We must stop the bleeding." </p><p></p><p>Schwarzenegger on Thursday called for a special session of the state Legislature to address a deficit that has grown to $11.2 billion just six weeks after he signed the budget for the current fiscal year. </p><p>He said the state's economic condition has deteriorated significantly since then, with a cratering stock market and the continued decline of the housing industry. </p><p></p><p>California's budget relies greatly on capital gains taxes, which have dropped precipitously in recent months along with swooning stock prices. Sales and property taxes also have declined. </p><p></p><p>He said lawmakers will not be able to close the budget gap with cuts alone. He proposed a temporary 1.5 percent sales tax increase and other "revenue generators." </p><p></p><p></p><p>:dw:<span style="font-size: 26px">Make your large purchases now</span>:beer:</p><p></p><p></p><p><strong><span style="color: Orange">He is doing the right thing. He is raising taxes AND cutting programs. Cutting programs is never popular, but if you can’t afford it, you can’t afford it. </span></strong>:shrug:</p></blockquote><p></p>
[QUOTE="OCSnk, post: 7407834, member: 20042"] [SIZE="5"]Schwarzenegger: $4.4B in tax hikes to end deficit[/SIZE] [url]http://www.breitbart.com/article.php?id=D949JG0O3&show_article=1[/url] SACRAMENTO, Calif. (AP) - Gov. Arnold Schwarzenegger has proposed $4.4 billion in tax increases and billions more in spending cuts to close California's worsening budget deficit, declaring: "We must stop the bleeding." Schwarzenegger on Thursday called for a special session of the state Legislature to address a deficit that has grown to $11.2 billion just six weeks after he signed the budget for the current fiscal year. He said the state's economic condition has deteriorated significantly since then, with a cratering stock market and the continued decline of the housing industry. California's budget relies greatly on capital gains taxes, which have dropped precipitously in recent months along with swooning stock prices. Sales and property taxes also have declined. He said lawmakers will not be able to close the budget gap with cuts alone. He proposed a temporary 1.5 percent sales tax increase and other "revenue generators." :dw:[SIZE="7"]Make your large purchases now[/SIZE]:beer: [B][COLOR="Orange"]He is doing the right thing. He is raising taxes AND cutting programs. Cutting programs is never popular, but if you can’t afford it, you can’t afford it. [/COLOR][/B]:shrug: [/QUOTE]
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SVTPerformance's Chain of Restaurants
A Taste of Home
California
[[Big California Tax Hike]]
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