California’s gyrating budget: Tax reforms ahead?

EconoMeter looks at alternatives to smooth out revenues in good times and bad

from San Diego Union Tribune’s EconoMeter panel.

Q: Are there any tax reforms that could stabilize California’s budget receipts?

Bob’s Answer: Yes.

We must simplify the tax code, reduce regulations and lower tax rates in California until we have cut waste and have a sustainable revenue stream that is protected during economic downturns. The tax code must become more business friendly to attract companies and we must move toward merit pay for teachers, pension reform and lower government spending. Further, we must create incentives for companies to operate here and create more jobs.

Read more answers here.

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