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capital gains tax

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Stock Crash Would Create Budget Crisis for California

With the “one percent” paying more than 50 percent of state taxes, a sustained stock market crash would shrivel California’s “one-time” capital gains taxes and throw the Golden State back into a financial crisis.

global warming

Jerry Brown to Spend Surplus Funds on Schools

Gov. Jerry Brown will release his updated budget on Thursday, and in light of the Golden State’s $3 billion-plus surplus, Brown is expected to suggest an increase in spending on public schools and community colleges . He is also expected to ask that more funds be set aside for the state’s savings or “rainy day” fund.