Hi All,
Just saw this on the web, it hasn’t been getting a lot of media play, but evidently this weekend saw a rather sizable protest against a new tax initiative in California.
The story is that California’s budget has been drowning in a sea of red ink, and the governors office and the legislature have been wrestling to close a budget gap of over 40 billion. The Government of California’s solution has been proposition 1A. Proposition 1A is a ballot initiative that raises fuel & vehicle fees, as well as extends sales taxes and decreases the impact of income tax deductions. People are sick of losing money because of the high tax responsibilities. It’s hard to build wealth when well over 50% of your income is going to the government.
Check out the protest videos on you tube. Its a genuine tax protest in full effect, they’ve got angry rhetoric, chanting, a lively crowd, they even cut off Governor Schwarzenegger’s head in effigy. I’ve generally been optimistic about the future of the US economy, but tax protests suggest that we’re not out of the woods yet.
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