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Jun 19 / Jonathan

Dan Walters: Historic tax overhaul plan to hit Capitol

This is, um, interesting.

Dan Walters: Historic tax overhaul plan to hit Capitol

… The California Commission on the 21st Century Economy, better known as the Parsky Commission for its chairman, businessman Gerald Parsky, is on the verge of proposing a massive tax system overhaul to Gov. Arnold Schwarzenegger and legislators.

Although revenue-neutral – that is, not changing the amount of money now collected – the plan will probably propose abolishing corporate income taxes and the state sales tax in favor of a “net receipts” tax that’s similar to the value-added taxes common in European countries, replacing the steeply progressive personal income tax with a flat tax, perhaps 6 percent, and adding a “carbon tax” to reduce fuel use. …

You might be forgiven for not knowing what the hell a Parsky Commission is.

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