Tax Guru-Ker$tetter Letter
Monday, November 17, 2003
Senate Panel Finds Abuses in Tax Shelter Sales
Schwarzenegger repeals car tax increase - You can't get any faster in cutting taxes than this. Many of the reports on this on FoxNews claimed that this would immediately add over $4 billion dollars to the State's budget deficit. That's ridiculous. As I've pointed out over the past month, new car sales have dropped like a rock since Davis tripled the car tax. The lost sales tax revenue must have made the car tax revenue seem like a drop in the bucket. Why isn't anyone reporting how much new sales tax revenue will start flowing to the State and counties now that Arnold has repealed the higher car tax?
Davis' Pension: About $105,000 - Politics is one of the few professions where a person can be fired for gross incompetence and corruption, yet still retire handsomely at taxpayer expense.