Difference between revisions of "Talk:Props 2010/24/"
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Prop 24- corporate tax loopholes ---YES, YES | Prop 24- corporate tax loopholes ---YES, YES | ||
| − | While this is an initiative that attacks regressive tax distribution, it is one that never should have been necessary. The corporate tax loopholes (equating to nearly $2 billion) that it is designed to halt (before full implementation this fiscal year) were all agreed to by both the GOP and Democratic leaderships at the end of last year's (February 2009) budget chaos, even while facing more than $20 billion in deficit. There are three main features to Prop 24: | + | <p>While this is an initiative that attacks regressive tax distribution, it is one that never should have been necessary. The corporate tax loopholes (equating to nearly $2 billion) that it is designed to halt (before full implementation this fiscal year) were all agreed to by both the GOP and Democratic leaderships at the end of last year's (February 2009) budget chaos, even while facing more than $20 billion in deficit. There are three main features to Prop 24:</p> |
| − | - it repeals a law that allows business to shift operating tax losses into the past and future; | + | <p>- it repeals a law that allows business to shift operating tax losses into the past and future;</p> |
| − | - it repeals a law that allows corporations to share tax credits with affiliated corporations (87% of these monies would go to 0.03% of California corporations, all with gross income over $1 billion) | + | <p>- it repeals a law that allows corporations to share tax credits with affiliated corporations (87% of these monies would go to 0.03% of California corporations, all with gross income over $1 billion)</p> |
| − | - finally, it repeals a law that would allow multistate businesses to use only sales-based income and not have to include property and payroll. | + | <p>- finally, it repeals a law that would allow multistate businesses to use only sales-based income and not have to include property and payroll.</p> |
This proposition has been largely initiated by the California Teachers Association, with much help from the California Tax Reform Association. We strongly urge a "Yes" vote on Proposition 24. | This proposition has been largely initiated by the California Teachers Association, with much help from the California Tax Reform Association. We strongly urge a "Yes" vote on Proposition 24. | ||
Revision as of 13:31, 29 July 2010
Please add any thoughts/ideas here by clicking the plus sign (next to 'edit' - above). That will start a new section for you. I will incorporate them into the argument or contact you for further information - Truekahuna
Yes on Prop 24 from Bill Balderston
From Bill Balderston:
Prop 24- corporate tax loopholes ---YES, YES
While this is an initiative that attacks regressive tax distribution, it is one that never should have been necessary. The corporate tax loopholes (equating to nearly $2 billion) that it is designed to halt (before full implementation this fiscal year) were all agreed to by both the GOP and Democratic leaderships at the end of last year's (February 2009) budget chaos, even while facing more than $20 billion in deficit. There are three main features to Prop 24:
- it repeals a law that allows business to shift operating tax losses into the past and future;
- it repeals a law that allows corporations to share tax credits with affiliated corporations (87% of these monies would go to 0.03% of California corporations, all with gross income over $1 billion)
- finally, it repeals a law that would allow multistate businesses to use only sales-based income and not have to include property and payroll.
This proposition has been largely initiated by the California Teachers Association, with much help from the California Tax Reform Association. We strongly urge a "Yes" vote on Proposition 24.
