I put “trust fund” in quotes because it is currently about $1.6 billion in debt to the feds. Today the Republican Senate Caucus put a pretty nice little briefing report about the situation into email boxes around the state. You might think I’m kidding, but it’s actually a pretty fair review of the facts. The analysis brings the partisanship into the mix, but what can you do, it’s the Legislative Republicans we’re talking about here. <\/p>\n
There are three proposals out there right now. The first comes from the Governor. It would increase the maximum taxable wages from $7,000 to $10,500, increase the maximum tax rate from 6.2% to 8.1%, and decrease benefits a smidge. AB 1298 (Coto) raises those tax levels a bit, and SB 222 (Ducheny) opens up unemployment to some part time workers.<\/p>\n
Unfortunately, if we do nothing, someday the feds will tell us we need to get our house in order. And with unemployment levels rising to as high as 14% in some models, that is going to be a big hole to fill. The Republicans want to spin this as a problem that can be evaded without increasing taxes, but that seems unlikely. <\/p>\n
Just one more reason why 2010 must be the year we get 2\/3 majorities.<\/p>\n","protected":false},"excerpt":{"rendered":"
I put “trust fund” in quotes because it is currently about $1.6 billion in debt to the feds. Today the Republican Senate Caucus put a pretty nice little briefing report about the situation into email boxes around the state. You might think I’m kidding, but it’s actually a pretty fair review of the facts. The analysis brings the partisanship into the mix, but what can you do, it’s the Legislative Republicans we’re talking about here. <\/p>\n
There are three proposals out there right now. The first comes from the Governor. It would increase the maximum taxable wages from $7,000 to $10,500, increase the maximum tax rate from 6.2% to 8.1%, and decrease benefits a smidge. AB 1298 (Coto) raises those tax levels a bit, and SB 222 (Ducheny) opens up unemployment to some part time workers.<\/p>\n
Unfortunately, if we do nothing, someday the feds will tell us we need to get our house in order. And with unemployment levels rising to as high as 14% in some models, that is going to be a big hole to fill. The Republicans want to spin this as a problem that can be evaded without increasing taxes, but that seems unlikely. <\/p>\n
Just one more reason why 2010 must be the year we get 2\/3 majorities.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[419],"tags":[2913,7274,4538],"class_list":["post-8855","post","type-post","status-publish","format-standard","hentry","category-419","tag-2913","tag-7274","tag-4538"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[],"jetpack_shortlink":"https:\/\/wp.me\/p6Pvhz-2iP","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/posts\/8855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/comments?post=8855"}],"version-history":[{"count":0,"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/posts\/8855\/revisions"}],"wp:attachment":[{"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/media?parent=8855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/categories?post=8855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/calitics.com\/index.php\/wp-json\/wp\/v2\/tags?post=8855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}