Arnold Schwarzenegger calls for massive tax increases
Having held back just long enough to avoid voter fury against Sacramento legislators who might have been hurt on November 4 if they backed his plans for a massive tax increase, the anti-tax Governor Arnold Schwarzenegger today proposed a stiff hike in the cost of most things Californians buy, which critics immediately assailed as "instant inflation."
His sales tax increase amounts to a roughly 20 percent hike on the current California sales tax. It is being spun as quite small, with the governor insisting it is only 1.5 cents more on each dollar spent.
In fact, it is three times more than the brand new sales tax that voters appear to have approved in Los Angeles County on Tuesday to fund transit projects.
In fact, it would be one of the biggest sales tax hikes in California history.
The San Francisco Chronicle, consistently the best paper for coverage of Arnold, has the story here and angry comments are already pouring in.
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