Federal Tax Reform Means More Business Taxes for California
California’s corporate tax base may increase by up to 12 percent as a result of federal tax reform legislation, according to a study recently released by the State Tax Research Center. This means that revenues from California’s corporate income tax could increase by as much as $1.3 billion – without any action by state lawmakers to increase corporate […]
The Underrecognized, Undervalued, Underpaid, Unfunded Pension Liabilities
“It’s the economy, stupid.” – Campaign slogan, Clinton campaign, 1992 To paraphrase America’s 42nd president, when it comes to public sector pensions – their financial health and the policies that govern them – it’s the unfunded liability, stupid. The misunderstood, obfuscated, unaccountable, underrecognized, undervalued, underpaid, unfunded pension liabilities. According to CalPERS own data, California’s cities that […]
Is California Becoming Another Taiwan?
No, California isn’t an island. But it shares a problem with Taiwan: the predicament of the halfway country. Taiwan is an independent nation—in its ambitions, its economy, its democracy. But many of the world’s countries refuse to recognize it as a separate nation, deferring to mainland China, which claims Taiwan as a possession and responds […]
Red Meat Aside, Immigration Flap Poses Real Issue
That was quite a show that politicians staged in Sacramento last Wednesday. U.S. Attorney General Jeff Sessions swooped into town to tell an audience of police officials that he was suing the state to overturn three laws aimed at helping millions of undocumented immigrants avoid deportation. The centerpiece is Senate Bill 54, which puts some limits […]