Opinion: Business Groups Battle Lawmakers Over Ballot Measure to Limit California Tax Increases ...Middle East

News by : (Times of San Diego) -
The word “taxes” is seen engraved at the headquarters of the Internal Revenue Service in Washington. REUTERS/Andrew Kelly Californians will be coughing up many billions of dollars this month as they file their federal and state income tax returns and pay the second installment on their property taxes. How much? Annually, individual Californians and California-based businesses pay roughly a half-trillion dollars in federal taxes — personal income taxes, Social Security and Medicare payroll taxes, primarily. They also pay at least another half-trillion dollars to state and local governments — personal income taxes, sales taxes and property taxes, primarily. By any measure, Cali

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