Russ Steele
State Controller John Chiang reported Friday that California's cash outlook has been hurt badly by weaker than expected retail sales, 11.8 percent below budget projections in March.
"Unfortunately sales taxes continue to be hammered by diminished retail spending across the state," Chiang said in a news release.
An then we read this in the Daily Press:
The California Energy Commission is considering a proposal to ban California retailers from selling all but the most energy-efficient televisions. Critics say the new standards could take 25 percent of TVs off the market — most of them 40 inches or larger — as well as affect revenue and jobs.
“The CEC proposal will cost California $50 million annually in state tax revenue and destroy 4,600 jobs that are tied to TV sales, distribution and installation,” said Doug Johnson, a director at the Consumer Electronics Association.
“The CEC proposal will cost California $50 million annually in state tax revenue and destroy 4,600 jobs that are tied to TV sales, distribution and installation,” said Doug Johnson, a director at the Consumer Electronics Association.
As the California Legislature continues to spend, spend, and spend, while tax revenues continue a steep decline, the Executive branch publishes more regulations limiting critically need tax revenue. CEC justifies it new regulations by a need to reduce greenhouse gases and save the planet from global warming.
What is wrong with this picture and how do we fix it? We need to clean up our political house in Sacramento.
