February 11, 2009

California - The Golden State?

Although the State of California has still not come to terms with a new budget, the proposals in place to close the $42 billion budget deficit will continue to squeeze even more out of already suffering California residents. Here are some of the proposals on the table:

Annual California vehicle license fees: Will nearly double from 0.65% to 1.15% of the vehicle’s value.
Gasoline tax: Will effectively increase the price per gallon by $0.12.
California personal income taxes: increase of 2.5%.

If an agreement on the budget is not reached by this Friday, Governor Arnold Schwarzenegger vows to cut 20,000 state workers.
Article here.