Tax proposal raises ire of West Coast lumber group
The West Coast Lumber & Building Material Association (WCLBMA) board of directors has voted to oppose California’s Proposition 30, on the ballot for the Nov. 6 election.
“Increasing personal taxes on some taxpayers and increasing the state sales tax for everyone to fund a broken state government is not the answer,” according to the WCLBMA. “The answer is for the state to curb state spending, cut all state-funded programs that are not absolutely essential for public safety, public welfare and public education. More taxes with the state’s weak economy and high unemployment is not the answer.”
Provisions of Proposition 30 include: a raise in California’s sales tax to 7.5% from 7.25%, a 3.45 percentage increase over current law; creation of four high-income tax brackets for taxpayers with taxable incomes exceeding $250,000, $300,000, $500,000 and $1,000,000; and a 10.3% tax rate on taxable income over $250,000 but less than $300,000 -- a percentage increase of 10.6% over current policy of 9.3%.
“WCLBMA condemns the tactics of the proposition proponents who are threatening education and basic governmental services if the measure does not pass,” the WCLBMA wrote in a news release. “Their actions are for all intents and purposes blackmail of the citizens of California and are reprehensible.
“The State of California has not only done a dismal job in managing state finances in today’s difficult economic conditions, but has been shown to have failed in generating a truthfully balanced budget using real numbers. The state’s gap between revenue and spending is increasing and counting on questionable revenue generation is absurd.
“California needs the governor and state legislators to take an honest look at what is needed to make the state’s income-producing businesses survive, and perhaps prosper again at some point in the future. Cut the bureaucracy, cut the regulatory chaos, and quit spending. Make the revenue stream to the state more equitable and more predictable.”