Live Twittering From the California Tax Reform Commission
I'm at UCLA today at the state's tax reform commission (the Commission on the 21st Century Economy) and will be twittering highlights for as long as I can stand it. at joemmathews.
The commission is supposed to make recommendations to the legislature (for an up or down vote) later this month, and two commissioners -- Stanford economist John Cogan, a Republican, and UC Berkeley law school dean Christopher Edley, a Democrat -- have made a presentation of a recommended package. Highlights: flatter personal income tax, phase out of state sales tax, elimination of corporation tax, establishment of a 4.2 percent business net receipts tax (BNRT), a form of value added tax.
The commission's recommended package also includes one ballot measure: a constitutional amendment establishing a stronger rainy day fund.
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