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|Sacramento County, CA||November 4, 2008 Election|
The California Economy
By Mali D. "Currington"Candidate for Member of the State Assembly; District 9
This information is provided by the candidate
The economy slump is caused by government leaders trying to act as private business leaders. Unfortunately they do not see themselves as the problem but part of the solution. I hope to change that point of view as Assemblyman.The California economy is devastated inadequacy of Left-Wing Liberal policies! The Real Estate Market has plundged. Corporate Profits are shrinking year over year. High Income households are moving out of California. Remaining businesses, income tax payers and homeowners are being forced to pay more in costs, fees, and gasoline taxes as a result of the policies of this Legislature and overall government. Each of these contributes largely to a deficit of tens of billions of dollars in the projected California Budget for 2008-09. Unfortunately, these problems persist because this Legislature never sees itself as the problem.
One way to reduce the Budget by 12-20% would cut every agency's Budget allocation by making all public agencies tax and fee exempt. Currently public agencies are forced to repay the government in gas & sales taxes and fees from their budget allocations each time they make a product and/or service purchase. This exemption would cut billions of dollars from public agency budgets without having to downsize one employee or disenfranchise one student in order to meet any budget constraint. The State Budget deficit would automatically be reduce by that same amount.
The Legislature needs to reduce its addictive dependence on income taxes as the single largest source of revenue (55% according to the Governor's office). This would reduce part of the enormous downward pressure from the value of the dollar (because of the size of California's economy at $1.6 trillion) and significantly increase real property values in California and slightly reduce gas prices. Currently, California rakes in a hefty 59 cents per gallon of gas compared to about 9 cents per gallon to the oil companies. California must reduce its usurious cut to no more than 4 cents per gallon. This will immediately reduce the price of gasoline by more than 50 per gallon on the retail side. We need to petition the U.S. Commodity Futures Trading Commission to increase the margins (cash down payment) on a contract of Crude Oil from the current 10 percent to about 40 percent. This will further reduce the price of gasoline to below $2 per gallon.
California mustrestrain itself - for a change - by establishing a tax rate and fee cap statewide for any subordinate public jurisdiction's revenues. We must freeze, reduce, and eliminate all state and local taxation on real property. If these ideas are implemented, then revenues to the State would increase more than what is needed to conduct the State's business. No longer will their be a need for to "strong arm" a percentage of income from residents and businesses in order to continually destroy the California with Left-Wing Liberal policies.
Other benefits include more long term small business opportunities for community members in their communities. Even the poor would increase their standard of living and no longer need the California Legislature focusing on ways to make them "feel" comfortable in their poverty. The cost of living would decrease and the quality of living would increase because of increased buying power and net worth. The consumer demand for higher quality goods and services at more competitive prices would also be prevalent.
Position Paper 3
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