This story comes to us courtesy of the Silicon Valley Education Foundation's thoughts on education blog, TopEd.org.
Billionaires, old-line political movers and shakers and influential supporters released their recommendations Monday to change the country's tax structure to increase State income amounting to $ 10 billion per year, with half of that going to K-12 schools and colleges and another $ 2.5 billion for the University of California and California State University.
The Committee think long for California, chaired by Nicolas Berggruen, founder and President of Berggruen Holdings, intending to put two initiatives on the 2012 vote to overhaul the country's tax and financial structure, and to change the school funding law, proposition 98.
The Proposal, outlined in Committee 24-page report, A blueprint for renewed California, trying to get the Government out of debt by reducing personal income tax at any rate, cutting corporate tax rates, and reduced sales tax to consumer goods while extending them at a higher rate for services like haircuts, accounting, and car repair.
"Almost half of California's $ 2 trillion economy is made up of service-no taxes," wrote the Berggruen and Nathan Gardels, Advisory Committee, in the long thought piece OpEd on Sunday Sacramento Bee. "If You Eat Donuts in coffee shops, sales tax on applicable items. If you use the services of legal or finance, it is not taxed. In other words, donat subsidize lawyers, accountants, and other services. "