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Wednesday, Dec 6, 2023

VALLEY FORUM: Budget Crisis Breeds Taxing Questions

VALLEY FORUM Budget Crisis Breeds Taxing Questions California Gov. Gray Davis recently announced the broad strokes of his plans to tackle the state’s $34.8 billion deficit, including higher taxes and service cutbacks. The San Fernando Valley Business Journal wants to know… What do you think about the governor’s new tax plan? Daniel R. Blake Director San Fernando Valley Economic Research Center At Cal State Northridge It’s hard to fashion a tax plan that will raise the necessary revenues given the deficit and also stimulate business activities in the state. The governor’s plan has left business incentives in place and that’s very good, but still, it’s going to take a bite out consumers. Edmond F. Buccellato CEO, Advanced Biotherapy Inc. Woodland Hills The state is in a very difficult situation with over a $30 billion deficit. But how are we going to give incentives to the medium and small companies to continue to stay in business in California? When you start addressing the needs of the small business owner and entrepreneur, that’s when you realize what a challenge it is to do business here. This tax plan makes things tougher for business, especially for retail. But one of the things I have a problem with is cutting education. It’s disturbing to hear that teachers are going to be cut and kids are going to be impacted. Nelson Dodge Principal, MarketStorm LLC Sherman Oaks I don’t support new taxes and I recognize that things are in a bit of a bind. We didn’t get into that situation to begin with because we didn’t pay enough taxes. It’s unfortunate, but we gotta go forward and solve the problem. It’s real and not a contrived situation, but we have to make the best of it. S. Alan Rosen Attorney and Partner Horgan, Rosen, Beckham & Coren Calabasas There seems to be a disproportionate burden that is put on cities and counties to cover the state budget deficit. The state is going to shove that down the throats of local government. One of the concerns I have is the impact that it’s going to have on levels of social services. We have problems in the health care system, welfare system and that’s going to negatively impact those vital services.

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