Reframing state tax obligations as charitable contributions seems like a bad cultural precedent with lots of unforeseen consequences.https://twitter.com/dillonliam/status/958437132544098304 …
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California has a very highly volatile financial structure because it is so progressive and tied to capital gains tax revenues, which in turn are tied to the performance of global equities markets. When those turn, there will be a catastrophic deficit and so the state needs to
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maintain good will with the 1%, which effectively floats half of the $90 billion or so in personal income tax revenues it collects annually. (It's a bizarre system.) http://www.ebudget.ca.gov/2018-19/pdf/BudgetSummary/RevenueEstimates.pdf …pic.twitter.com/b2O6zqKysX
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