I read up on prop 14-1 and it looks like they are dangling the carrot of lower PP taxes to entice us to establish a brand new local tax. No promises on how much exactly the PP tax will be decreased or for how long. Also it is left to an appointed board how much the new tax will be.
For example, let's say you buy a car from a private party for $3,000. Today you would pay the state $180 in PP tax. Period. If prop. 14-1 goes through you might only pay $120 for the PP tax on the car but you will be paying a new local tax every year whether you buy a car or not. Also, if it is decided that more of this new tax is needed for schools, fire, police protection, etc. then the appointed board will recommend a tax rate increase.I'm voting no.
It's pretty much a case of taking the tax burden off big business and putting it on the individual taxpayers to make up the difference. I'm not financially ready to take on that burden. They claim it will allow small businesses to hire more people but in similar situations, most small (and large) business owners said that their hiring depends on whether they need more production or not, NOT on whether or not they have extra money in their profit margin. They could be rolling in dough but if production is being met then theyhave no need to hire.
All this promise of jobs is nothing more than smoke and mirrors. Our governor is basicly a CEO who regards us as employees, not taxpayers to whom he is accountable. That's his mindset. To other CEO's he's Santa Claus who brings them tax breaks for Christmas at taxpayer's expense.