Can LA Survive a 10% Sales Tax!
JACK HUMPHREVILLE
25 JULY 2016
LA WATCHDOG–On June 23, the politicians on the Board of Directors of the Los Angeles County Metropolitan Transportation Board voted to place on the November ballot the “Los Angeles County Traffic Improvement Plan” which, if approved by two-thirds of the voters, will increase our sales tax by a half cent to 9½%, one of the highest rates in the country.
The Supervisors also decided to make this a permanent increase, eliminating the 40 year time horizon that was an integral part of the previous proposal in March.
This ballot measure will also make permanent the Measure R half cent tax increase that County voters approved in 2008, eliminating the 2039 sunset provision. Interestingly, in 2012, the County’s voters did not approve extending this tax for another 30 years until 2069.
If this measure is approved, it will increase Metro’s tax revenue over the next 40 years by $120 billion to an estimated $300 billion. These funds will be used to subsidize Metro’s money losing operations, fund its pensions, and finance its very ambitious, debt fueled capital expenditure program that will burden future generations of Angelenos.
But this appears to be just the beginning of our Enlighten Elite’s efforts to raise our taxes to astronomical levels.
In all likelihood, once Janice Hahn (who never met a tax or rate increase she did not like) is elected to the Board, the Supervisors ……………………………….
http://www.citywatchla.com/index.php/la-watchdog/11529-can-la-survive-a-10-sales-tax