California lawmakers have agreed on a budget framework that, if approved, would raise taxes to the tune of $14 billon.
In a recession.
Vehicle license fees would nearly double, going from the current rate of 0.65% to 1.15% of the value of a car or truck. The sales tax would increase by 1 cent, raising the rate in Los Angeles County to 9.75%. Gasoline taxes would increase by 12 cents a gallon. And Californians would pay a new surcharge on their personal income taxes, amounting to 2.5% of their total tax bills.
That’s right: they’re planning to tax our taxes.
I heard numerous callers on the radio today saying this is the final straw. They’re selling their houses and moving to Colorado.