Originally Posted by
Natural Lefty
Good article about California, Lady Quagga. People on this site who love to bash our state should see that.
Eric, eliminating tax deductions of various kinds is nominally "tax reform," but I consider that misleading, since the deductions that the law proposes eliminating are largely ones that are used by people of modest income, while the taxes being cut or eliminated (including the estate tax, corporate taxes, etc.) are ones that lower taxes on the wealthy. Any law that is expected to add another 1.5 trillion dollars in debt over the next few years to our already humongous national debt, is no sort of economic reform, especially when that 1.5 trillion dollars is going into the hands of the already wealthy.