Income Tax

California is a Retiree’s Tax Nightmare

tgaul — Fri, 21 Aug 2009 15:59:53 -0700

Kiplinger.com has published a Guide to Taxes on Retirees for each state in the U.S. Under the California section, the guide describes the state as a “retiree’s tax nightmare.” It goes on to detail California’s exorbitant sales, income and property taxes.

Click Here for the U.S. overview.
Click Here for the California section.

The Millionaires' Tax -- A Double Failure

gforster — Sun, 14 Dec 2008 19:26:40 -0800

Milton Friedman's maxim that few things are as mobile as rich people and capital is proven starkly by data showing the wealthy are leaving California in record numbers. It is probably no coincidence that, while California has been punishing the successful for the sin of being rich, Maricopa County in neighboring Arizona gained 23,000 new millionaire households in the same time period. Read more >>

Bi-Partisan Tax Commission: Trick or Treat for Taxpayers?

gforster — Sun, 02 Nov 2008 19:38:42 -0800

The day before Halloween, Governor Schwarzenegger announced the formation of a bipartisan Commission on the 21st Century Economy to re-examine and modernize California's out-of-date revenue gathering laws that contribute to the boom and bust state budget cycles. In order to be a viable process it must be fair, transparent and taxpayer interests must be fully represented. Read more >>

Taxpayers: Victims of the Obama Factor?

gforster — Mon, 22 Sep 2008 14:33:28 -0700

The November election could see Californians confronted with a record number of local tax hike measures. Despite the fact the economy is in the doldrums and people are struggling to pay for gas, food, housing, this hasn't slowed down local politicians making major new demands on taxpayers' wallets. Read more >>

Utah is Laughing

gforster — Mon, 14 Jul 2008 14:52:29 -0700

Last month I was invited to address a joint tax committee of the Utah Legislature to discuss the relative strengths and weaknesses of various methods of taxing real property. Specifically, Utah is considering adopting an "acquisition value" based system -- such as Proposition 13 -- to replace its traditional "current value" system that taxes property based on what it is worth now rather than the purchase price. Read more >>