http://www.boe.ca.gov/news/pdf/l269.pdf
The "temporary" 1% increase is scheduled to expire on July1, but don't hold your breath...
http://ballotpedia.org/wiki/index.php/California_State_Tax_Increase_Proposition_(2011)
"If a tax hike measure goes on the ballot, supporters are likely to request a tax hike of $12.5 billion a year. This would include re-instating $9.2 billion in temporary tax increases imposed in February 2009 for five additional years.[4] A $12.5 billion annual tax increase would reduce by half the state's projected $25 billion annual budget deficit. The other $12.5 billion needed to reduce the budget deficit to zero would come from spending cuts.[4]
$9.2 billion in temporary taxes were imposed in February 2009. Those taxes end on July 1, 2011. A 2011 ballot proposition voted on after the July 1 expiration would re-instate those taxes for an additional five years. The February 2009 tax package:
Imposed a 0.25% surcharge for each income tax rate. This surcharge ended on January 1, 2011.[5]
Lowered the dependent exemption credit from $309 to $99. This change ended on January 1, 2011.[5]
Increased the California sales tax by 1%. This increase is scheduled to end on July 1, 2011.[5]
Increased the state's motor vehicle license fee from 0.65% to 1.15%. This increase is scheduled to end on July 1, 2011."
As much as I'd like to see these "temporary tax increases" expire, I doubt they will. The state is in too much of a financial crisis for the legislators to allow it to happen.
Cutting spending is a great idea, but you can only cut so far before it starts causing more damage to the economy than it will cure.
Let's put a "temporary" tax on alcoholic beverages. $1 per 12 oz. beer, $20 per 750 ml bottle of wine, $25 per 750 ml bottle of hard liquor.
Oh wait...the alcoholic beverage industry has too strong of a lobby to permit that...they've bought way too many of our elected officials.
Local sales tax tacked onto the state sales tax?
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