Govin Gavin Newsom suggests fighting a campaign to revolutionize California's tax system


Critics say the California tax system is still based on an era where goods, not services, dominated the economy. It provided incentives for the latest major reform work, a 2009 bipartite commission that elaborated detailed recommendations for a framework that lessens the income of Wall Street investment from the wealthiest. The most important recommendation was a "net tax", a broad tax on economic activity with relatively low interest rates.

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