Posts Tagged: wealthy
Erin Schrode, candidate for the 2nd Congressional District. (Photo: Teens Turning Greeg. org
Twenty-five-year-old Erin Schrode, a Democrat, is running for the House in the 2nd Congressional District, which includes coastal counties north of the Golden Gate Bridge to the Oregon line. She is the youngest candidate in any of California’s 53 House races and may be the youngest in the nation. She actually turned 25 during the campaign – the minimum required age to serve in the House.
Gov. Brown on Jan. 9 in the state Capitol as he unveiled his 2015-16 draft budget. Brown's budget includes the newly approved "rainy day fund."(Photo: AP/Rich Pedroncelli)
California’s economy may not be booming, but it is definitely on the mend. The Bay Area is churning out high-tech profits and high-wage jobs. In other parts of the state, unemployment is inching down toward full-employment levels. And as always when California’s economy improves, tax revenues are soaring. With an income tax system highly dependent on the wealthy and their investment income, the state treasury typically sees a windfall whenever times are good.
OPINION: With this proposal, the Governor, who has shown recent leadership in stabilizing revenues and beginning to restore programs cut during the recession, is calling for a restructuring of the state’s existing rainy day fund, known as the Budget Stabilization Account (BSA). (An alternative proposal approved by the Legislature in 2010 is scheduled to appear on the statewide ballot in November.)