It appears that the California tax increases Governor Brown and the State Legislator assumed would pass when they used them to help balance the budget in June are not a sure thing anymore. See this article in The Sacramento Bee by David Siders talking of a new poll that gives Proposition 30 barely a 50% margin, barely what it needs to pass:http://www.sacbee.com/2012/09/20/4836856/gov-jerry-browns-tax-measure-teeters.htmlIf Proposition 30 doesn’t pass, there will be another 5.4 billion dollars in cuts to school funding and community colleges. This is the problem of putting money in the budget you don’t really have; oh well, no one is too old to learn, I guess.Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Tax Musings: Don’t Mess with Taxes
This CPA Tax Musing asks the question – how much of Gross Domestic Product historically does the US Government collect in taxes? Well, guess what? In the year 2000 the amount of taxes collected were 20.6 percent of GDP. That is the only year that taxes have even exceeded 20% of GDP! This is kind of a warning that if you feel you need to raise taxes to pay for programs and other items, you have an upward limit to worry about. Read this article in Accounting Today by Roger Russell:http://www.accountingtoday.com/news/dont-mess-with-taxes-64038-1.htmlSo maybe Congress better think of (gasp!) spending cuts in addition to other things to get back on track. Remember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com
CPA Financial Musings: Diplomas at a Discount!
Private colleges appear to be narrowing the tuition gap between themselves and public colleges. See this article in SmartMoney by Anna Prior for more information:http://www.smartmoney.com/borrow/student-loans/diplomas-at-a-discount-1346168264791/You can get more information by talking to Michael Budnick and his group, College Tuition Advisors. His contact information is in the Resource section of my website:https://briantstonercpa.com/Resources.htmlRemember, for financial, accounting and tax musings,You can count on us to count for you! email bstonercpa@sbcglobal.net phone 818-317-6035 Website www.briantstonercpa.com