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Suggestion: A constitutional amendment that says if the budget did not balance at the end of the year, then next year's tax rates all increase from this last ye
by RecycledEle 3y ago
Suggestion: A constitutional amendment that says if the budget did not balance at the end of the year, then next year's tax rates all increase from this last year's rates by double the percentage that would have been required to balance last year's budget.
This would override all measures by the legislature to set tax rates.
- soganess 3y agoIncrease for whom? A uniform split of the change-in-rate across all tax brackets would result in a more regressive tax system. That maybe your thing, that may not be. To be clear, I'm not trying to get into another tech-person-pretends-they-really-get-economics-on-hn discussion (frankly, I don't get economics well enough). Instead, I'm attempting to highlight that even this simple idea, if compounded a few years in a row, may have wide-reaching knock-on effects.
- kyboren 3y agoI disagree. One of California's big problems is exactly all the fucking around with taxes and spending in propositions amending the constitution with formulaic mandates. Particularly notable offenders include Proposition 98 distorting education spending and Proposition 13 distorting property tax revenue.