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State of California November 2, 2010 Election
Smart Voter

The Economy

By Laura Wells

Candidate for Governor

This information is provided by the candidate
We have to change how budgeting and taxation are done so they benefit average Californians, not just mega-corporations and billionaires.

California's economy is in serious trouble, and the bi-partisan quagmire in Sacramento has proved that the old solutions don't work any more. California needs new rules so Sacramento can pass a budget that taxes people and businesses fairly, and provides services we need. Sacramento cannot pass a fair budget using its current rules and practices.

The current tax system helps, actually coddles, the richest of the rich individuals and corporations. The rest of us + the 80% with less wealth altogether than the top 1% + have to pay more and more in fees and taxes (look at sales taxes, social security taxes, college tuition, and parking fees), but we get less and less back (look at schools, healthcare, parks, and pot holes). There are many reasons why the budgeting system has been set up to work this way.

What We Propose

We now have a run-away system that CAN be fixed if new values and leadership are brought to Sacramento. What cannot be done with status quo politics is that Sacramento cannot create a budget that will keep California great.

Those of us in the middle class may feel that we have been carrying a heavy load of taxes that benefit other folks who haven't been pulling their own weight. This is true; but those who are not pulling their own weight are not those who worse off - it's those who are vastly better off who are being subsidized by lower income, middle class, and even the relatively affluent. We've had deep cuts in the taxes that the super-rich must pay, and deep cuts in services provided to regular neighborhoods and the least fortunate of our state.

There is a lot to learn about how we can get back on track. When California voters really understand what's going on, we will fix it. Why support candidates whose tired ideas simply don't work? It's time for California to vote for Green systems Green priorities, and Green budgets.

One solution that is both tried-and-true and innovative is to establish a state bank for California, so loans can be made to students and local community businesses at a fair interest rate, and so that the interest stays in California for further investment in the state. Our Priorities

  • Fix Prop 13. Keep the good, and fix the bad. Fixing Prop 13 is going to come through people who are not fooled by the big money that keeps people believing all of Prop 13 is lucky for all of us. Some parts are lucky - keep them. Other parts are very unlucky + change them. The 2/3 majority required to increase taxes has proved to be a safeguard only for the richest of the rich.

  • Take responsibility in your personal life step by step, and become politically active. Talk to people. Remember to tell people that you pay 7 cents tax if you're super rich, 12 cents if you're not. Specifically, the lowest 20% of income earners pay 12 cents of every single dollar in local and state taxes. The top 5% pay only 7 cents of their dollars. And they have a lot more dollars. If we taxed fairly, we would have the revenue we need.

  • When people say: "We should fix the budget by cutting the salaries and benefits of the city council, and the state legislators."
  • Respond: "That will not fix the problem. The super rich individuals and corporations are not paying their fair share into our revenues. Prop 13 makes it so a minority of representatives of the super-rich can call the shots. That's what's been hurting our wealthy state."

  • When people say: "Unions or immigrants or welfare recipients are the main cause of economic problems."
  • Respond: "Enron stole billions of dollars from California."
  • Respond: "Bailouts. Huge corporations got over $700 billion in our money, and after they paid themselves bonuses, the big banks bought out local banks."
  • Respond: "Health Insurance and Pharmaceutical Industries. Expensive failures when we compare the results to any other industrialized country. And who wants healthcare reform that would force us to buy these inferior insurance products, and punish us if we don't?"

  • When people say: "Prop 13 has been a life saver."
  • Respond: "In some ways, yes, since homeowners, especially seniors, no longer lose their homes because of sky-high property tax increases." But, two-thirds of the benefit of Prop 13 went to industry, business, and landlords. And a one-third minority of legislators, aligned with the richest of the rich, can vote all benefits and no taxes to their little areas of the state.

Read the full text of Laura's Economy and policy:

Read Laura's other platform planks at:

Read Laura's other platform planks at:

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