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Sara Flocks
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Labor's Edge Articles by Sara Flocks
10/5/10
Could the Future of California Be Even Worse Than the Present?
by Sara Flocks
Governor Schwarzenegger leaves behind a legacy of devastating budget cuts and huge tax giveaways for corporations. In the last two years alone, Schwarzenegger has slashed $32.5 billion from the state budget -- and while state workers have endured deep wage cuts, corporations have enjoyed massive new tax breaks. Now, Meg Whitman is on a mission to ratchet up the pain on working people in California — above and beyond the misery that Governor Schwarzenegger has already imposed.
9/28/10
Repeal Tax Breaks for Big Corporations—Vote YES on Proposition 24
by Sara Flocks
In September 2008 and February 2009, Republicans demanded the passage of three massive tax breaks for corporations as part of the budget deal. These tax breaks will tear a gaping hole in the already tattered state budget, and would increase our budget deficit by estimated $1.3 billion every year after they take effect.
The solution to this problem lies in Proposition 24. If passed, Prop 24 would stop the giveaway of billions of dollars in state money to corporations by repealing the three tax breaks enacted in the 2008 and 2009 budget deals. Prop 24 would finally ensure that multi-national corporations pay their fair share to the state for the benefits they receive by doing business in California.
9/23/10
Health Care Reform: What’s New, and What’s Next
by Sara Flocks
President Obama signed historic health care reform into law six months ago this week. Many Californians saw immediate benefits from the new law. Today, several important new provisions of the law go into effect, and millions more will start to see how the health care law benefits them and their families.
As of today, an estimated 1.3 million young adults in California will now be able to stay on their parents' health plans. Insurers are now prohibited from dropping coverage when someone gets sick, and they can no longer deny coverage to children with pre-existing conditions. The abusive practice of placing a lifetime limit on insurance coverage will end today as well, thanks to the federal reform.
7/20/10
Tax Cuts Do Not Pay For Themselves
by Sara Flocks
A core part of Meg Whitman’s purported job creation plan is what she calls “targeted” tax cuts. And by targeted, Whitman actually means “for the rich.” She’s proposing to eliminate the state capital gains tax, which would mean that Whitman herself, and her billionaire buddies, would pay next to nothing in state taxes. The state, however, would lose billions of dollars in revenue.
The nonpartisan California Budget Project just released a new brief entitled “No Free Lunch: Tax Cuts Widen Budget Gaps” that analyzes the impact of tax cuts on the California economy. The CBP brief clearly explains how claims that tax cuts fuel economic growth are tenuous at best, and those cuts can do even worse damage to the economy by reducing state spending
5/20/10
Stop the Cuts, Close the Loopholes!
by Sara Flocks
California was once the envy of the country for our top-notch schools and universities, infrastructure and quality of life. Now California may become the only state in the nation to completely eliminate welfare-to-work assistance and job training for low-income families and their children.
The Governor’s May revision to the state budget proposes $17.9 billion in cuts to state programs, including eliminating welfare-to-work. Over the last two years, state programs have been slashed by $32.5 billion—and there is no relief in sight from this Governor.
4/7/10
Why is Bank of America Not Paying Any Taxes on $4.4 Billion in Income?
by Sara Flocks
Around this time every year, Californians scramble to finish doing their taxes and pay what they owe to the government.
But not everyone is paying their fair share. Forbes Magazine recently analyzed the tax returns of the top 25 U.S. companies and found out that they’re not paying much in taxes. In fact, corporations such as Bank of America, General Electric and Citigroup will not be paying ANY taxes this year --- they’re actually getting money back from the government.
3/17/10
Arnold Protects Tax Cheats, Refuses Tax Relief for Struggling Families
By Sara Flocks
At a time when California is facing yet another budget crisis, you’d think Gov. Arnold Schwarzenegger would want to crack down on tax cheats, especially if it meant that families and businesses would receive some tax relief as a result.
Think again.
This week, the Governor said he would not sign a bill passed by the Legislature to give tax relief to struggling homeowners and renewable energy companies because the bill would also increase the penalty on multi-million dollar corporations and the wealthiest Californians who blatantly cheat on their taxes.