Tag archives: taxes
This is the second analysis of policies proposed by our presidential candidates. No. 1 was about trade. This one is about taxes. Both candidates like to spend but have different ideas about how to raise revenues. Kamala Harris wants more revenue from taxation. Donald Trump favors less taxes but believes lower taxes would lift the […]
In my last two articles I reviewed the policies of candidates Harris and Trump. Here’s my take on the two. Just so you know, the standards through which I analyze politics and policy are things that have worked best over the years to make us the most prosperous country in the world: individual liberty, freedom […]
On June 18, the Supervisors will decide whether our revenue-starved County will approve a ballot referendum that would increase our cannabis tax rates. Frankly, I’m not nearly as concerned about the tax itself, as I am about the fact that Supervisors Steve Lavagnino and Das Willams continue to dominate the cannabis conversation. Allow me to […]
In a recent New York Times editorial, socialist economist Gabriel Zucman of Berkeley wrote “It’s Time to Tax the Billionaires.” Congresswoman Barbara Lee proposed a wealth tax, the Oligarch Act of 2023. Rep. Lee wants a yearly 8% tax on the “extreme wealth” (net worth) of the “aristocratic” rich. Our legislators in Sacramento have also […]
When California voters passed Proposition 19 in November of 2020, many questioned why the Real Estate industry supported a law that eviscerated the “parent to child exclusion” (from property tax reassessments) in most cases. Well, like the Stones’ “Satisfaction” and the Beatles’ “Revolution,” the B side of this new law outshined side A. While Prop […]
In recent years, it has become a ritual for Republicans to threaten to shut down the government and crash the U.S. economy by refusing to raise the debt ceiling. This is like finishing your meal in a restaurant and refusing to pay the bill. These childish tantrums are in direct violation of the 14th Amendment: […]
Most insiders know that our $1.4B County is relatively inept when it comes to financial forecasting. One need only look at our $118M North Branch Jail-Mahal with an estimated cost of $67M (what’s $51M between friends) to know our ability to budget is broken. Well, it’s happening yet again with our newest revenue savior — […]
These K-Rails on the 101 are extreme causes of fear. Who pays for the cleanup after accidents, including the semi on fire in Summerland backing up traffic for hours? Does the City have recourse for cleaning up after the fire and accidents? This superhighway they are building will have big effects on the community. I […]
So, the numbers are in for the most recent Quarterly Cannabis Tax Revenue and — like before — they are completely underwhelming and leave us with more questions than answers. Allow me to explain. First a bit of history: Santa Barbara County is the only county that relies solely on self-reported grower revenue to calculate […]
A common refrain that has echoed around American society for the last 70 years or so goes like this: “Nothing in life is certain, except death and taxes!” Cute, and up until recently a truism that could be counted on. No longer. It turns out there is one other thing that is certain, is inescapable, […]
Republicans have railed against deficit spending for decades. But, every Republican president since 1981 has increased the Federal deficit. Only the Democratic presidents Clinton and Obama have lowered it. When the Democrats are in office, the Republicans oppose any plans to increase government spending, claiming that we can’t afford it. Even though they have no […]
Network news shows tend to end with a feel-good story about people helping people. This often involves someone who got cancer, or some other dreaded disease, and neighbors and friends who mount a fundraiser for them. Sometimes, it even involves children setting up a lemonade stand for the cause. GoFundMe has raised $9 billion since […]
In recent years, I’ve heard a growing amount of criticism of philanthropy. I sense that much of this flak comes from the explosion of wealth inequality in our country, which has actually accelerated during the COVID-19 pandemic. It’s certainly not a pretty picture to see American billionaires gaining $1 trillion (one trillion dollars!) in wealth […]
Benjamin Franklin observed that “In this world, nothing can be said to be certain, except death and taxes.” Right now, we are up to our eyeballs in coronavirus deaths (over 140,000 as of today) and equally consumed by taxes. The coronavirus death numbers conclusively prove the necessity for the U.S. to have a better public […]
A new Federal law passed in December has made sweeping changes to the retirement plans used by most Americans. The SECURE (Setting Up Every Community for Retirement Enhancement) Act brings with it many benefits, including pushing back the mandatory retirement distribution age for IRAs, but the cost is the removal of the popular “stretch IRA” […]
On or before April 15, 141 million U.S. taxpayers voluntarily shipped to Washington an estimated $1.7 trillion in individual income tax dollars, or about half of all federal revenues, according to the Congressional Budget Office (CBO). Taxpayers grappled with a federal tax code that is 73,954 pages long, which Albert Einstein called, “the hardest thing […]
Archie’s Last Days I just had a neighbor say… “Why would you let them print this (“The Last Days of Archie McLaren,” MJ # 25/15)?” My answer even surprised me. Archie wanted this story told so dying people had a choice. He actually requested me to find someone just weeks before he died. So back […]
Beware the Ides of April – the time when the Federal and State tax men cometh to collect their share of the money needed to pay for next year’s government follies. Here are some taxing takeaways for Montecito residents: The ZIP Code List Montecito is too often associated with Oprah Winfrey, large estates, and the […]
It is difficult to decide whether to laugh or cry at a recent judge’s ruling denying the U.S. government’s right to use the census to count the number of U.S. citizens. Laughing because it is deceivers’ dream to have every action of this presidential administration – including masking the difference between citizens and illegals – […]
In last week’s Montecito Miscellany, we mistakenly left out Gonzalo Sarmiento from the photo’s caption, which should have included Mr. Sarmiento. Many apologies. Mulling Mueller Matters There are certain areas of the Mueller investigation that could be very disturbing when his report comes out later this month. As a former FBI director, does Mr. Mueller […]