From SD Tribune:
California would revamp its tax structure to bring in about $10 billion more annually under a bipartisan government reform proposal put forward Monday by some of the state’s most prominent political and business leaders and backed by a billionaire investor.
The plan by the bipartisan Think Long Committee for California includes asking Californians to pay sales taxes on all services except medical care and education, in addition to the sales taxes already paid on products. Many personal income tax deductions would also disappear, and the corporate income tax rate would fall.
The group’s proposal, which they hope to put before voters in November 2012, comes as the state struggles with persistent multibillion dollar deficits that have sharply cut state services. State revenues have come in about $3.7 billion below estimates in the state budget, making deeper cuts to education and other programs likely this year.
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