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Indybay Feature

Prop. 30, Texas vs. California business friendliness walking tour

Saturday, November 24, 2012
9:30 AM - 12:00 PM
Event Type:
Salty Olhmann
Location Details:
American Youth Hostel
312 Mason St.
San Francisco

Texas is the favorite home and destination of business folk and businesses according to the business community itself. Why? Because there is no state income tax. There is a state sales tax of 6.25%, but that compares favorably with California's Prop. 30 rate of 7.5%.

The primary reason Texas can afford no state income tax is because it levies a significant severance tax on oil production. California doesn't have a severance tax on oil production in despite of being the #3 oil producing state.

Come along on a walk that blends SF social movement history with the white-hot 1879 San Francisco social philosophy advocating the equivalent of a 90% severance tax on timber, oil, and urban land ownership. That philosophy was so hot UC Berkeley suppressed its teaching (and still does) in 1880; so hot Karl Marx condemned it; so hot former Senator Phil Gramm of Texas publicly vilified it and its progenitor in 2002; so hot Jim Hightower urged progressives keep silent about it; so hot it nearly melts New York's Wall Street gang because it emanates from the poem Emma Lazarus wrote just before she penned The New Colossus which is graven on the base of the Statue of Liberty; so hot it would bankrupt Dianne Feinstein's husband, Richard Blum; so hot it would lower rents in San Francisco by 20%; so hot it would raise enough public revenue to obviate the need for a state income tax and state sales tax; so hot it would make California at once the most business friendly, labor friendly, and social programs friendly state north of the equator.

And, good golly, the walk's free!

The Giant's ain't got nuthin' on this San Francisco story, fog-bathers; come out and rub some good stuff all over your brain.
Added to the calendar on Mon, Nov 19, 2012 7:39PM
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Sat, Nov 24, 2012 4:03AM
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