Thursday, February 26, 2015

Should volatile capital gains taxes be relied on to fund the state's "paramount duty"?

In our prior blog post we looked at the volatility of capital gains taxes and how California adopted a constitutional amendment to force more savings of its revenue from that source versus spending it to reduce the state's rollercoaster budgeting. As we noted, rather than dedicate any of the revenue from his proposed capital gains tax to protected savings, however, Governor Inslee’s plan takes the opposite approach by preventing the funds from going into state’s constitutionally protected reserve account created by voters . . . READ MORE


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