Brown Pleads For Votes For Struggling Tax Hike
If approved, the tax boost could be one of many for residents around the state. In Los Angeles, for example, one proposal would slap taxpayers with an additional half-cent sales tax, lifting the rate to 9.25 percent, as City Hall wrestles with soaring pension and retiree health care costs.
Brown has been pitching the plan as a way to guarantee funding for schools.
"It's either money into the schools, or money out," he said Wednesday in arguing for support of the proposition.
However, while some of the money raised would go toward education, it also would free up billions of dollars for the state's general fund, meaning the Democratic-controlled Legislature could spend it on health care, pensions or other programs.At different points Wednesday, he suggested that passage of the tax increase could free up other funds for mental illness programs or state courts. "It would be much better if 30 passes," he said, referring to courtroom budgets.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV