California's tax income was less than anticipatedlast month, missing estimates by just over $233 million, or 4.2 percent. While notable, State Controller John Chiang says money received – or not received – in the next few months will be of more concern, since over a third of all State funding generally comes in between now and July...
It's widely agreed that one solution to the tax shortfall is more income from business, and US Senator Dianne Feinstein said yesterday she wants to introduce legislation to significantly lower taxes on manufacturing, from the current 35 percent to 15 percent . The move may seem counter-intuitive, but it's hoped that lower tax rates will encourage more home-grown manufacturing, both in California and throughout the U.S...
Personal tax forms are due next week – as if you needed another reminder. But remember not to rush too much to get them in, even if you're late. The Journal of the American Medical Association said today that fatal traffic accidents go up significantly on Tax Day, by six percent. Taxes may be bad, but they're nothing to die for...
In other money matters, the price of gasoline in California seems to have peaked, at least for now. The average yesterday, in a survey released by AAA Insurance, was $4.36 for a gallon of regular. That's ten cents less than a month ago...
Listen to “Crosscurrents” today at 5 to learn about why California gas prices are consistently higher than in other states.
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