According to Meg Whitman's 48-page "policy agenda", the MEG2010: Building a New California, her proposed tax policy would be to ELIMINATE THE STATE TAX ON CAPITAL GAINS and basically shift all tax burden to the middle class and the poor.
How would you solve the State's budget problems by cutting the 50% taxes paid by the 144,000 richest people in the state? How is this even a responsible way to address the state's already oversized debt level? Sounds to me that she's just looking out for good ol' number one by saving herself and others billionaires a fortune by not paying any taxes on two-thirds of their income.
The argument that if only the "poor" super-wealthy people's back-breaking tax burdens were lifted, they would surely be spending that money into creating wonderful new jobs for everyone is ridiculous. This trickle-down economic theory has never worked and yet still been pushed hard on us by the wealthy politicans.
I am disgusted and disappointed at the current political climate both here in California and in Washington. There are simply no honest discussions left. Nothing is on the table to be discussed and worked out in the best interest of the people and America. Everything is talking points and pointing fingers... Sigh.
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