Democrats present plan to tax California's wealthy

[bemildred]

Finally, the Legislature get's a clue ...

SACRAMENTO -- Democratic lawmakers presented a plan late Tuesday night to impose $9.7 billion in new taxes on the wealthy and corporations to avoid the cuts to government services in Gov. Arnold Schwarzenegger's budget plan.

Republicans, who hold enough votes to block a budget from passing, vowed to fight it.

But a week after the state blew its deadline for enacting a spending plan, the proposal offers the first glimpse at how the Democrats who control the Legislature would go about eliminating a deficit that has soared to $15.2 billion.

Most of the new revenue would come from an income tax hike.

http://www.latimes.com/news/local/la-me-taxes9-2008jul09,0,6840956.story

[Auggie]

1. I'm not one of the wealthy, and I think MY taxes are too low.