The average American family pays nearly $7,000 in state and local taxes in a given year, but the actual amounts vary wildly. A Californian who lives on the western side of Lake Tahoe pays almost three times more in state taxes than their neighbor on the Nevada side of the lake. Someone living in Portland, Ore., pays more than twice as much as a neighbor living across the Columbia River in Vancouver, Wash.
The layoffs were felt at the studio’s Culver City headquarters and at international offices. Among the divisions said to be deeply affected by the staff reductions is Sony Pictures Interactive, the studio’s digital marketing arm.
Teens and young adults traditionally have struggled much more to find work than their older counterparts. But a new Brookings Institution report shows the road to employment for young job seekers nationwide and here in Sacramento during the 2000s has been especially rocky.
Regardless of the most recent data point, California’s job performance has been better than expected, and we should all be thankful for that. However, comparison with the United States average is not the only metric. Comparison with California’s potential is the correct metric, and there California is underperforming in a big way. Given all of its advantages, California should be leading the nation in job creation and opportunity.
California’s economy is recovering from its worst recession since the Great Depression – no doubt about that.
But its recovery is very slow, very geographically and socioeconomically uneven, and exacerbates the decline of a once-vibrant middle class and the evolution of a distinctly two-tiered society.
This study presents detailed state-by-state estimates of the state and local taxes paid by businesses for FY2012. It is the 11th annual report prepared by EY in conjunction with the Council On State Taxation (COST).
To put the CT in context, we note that these tax payments represent a small portion of the overall tax burden borne by California businesses. According to a study of 2011-12 business taxes by the Council on State Taxation—a trade association of multistate corporations—corporate income taxes made up only about 10 percent of the entire amount of state and local taxes paid by California businesses. The two largest taxes paid by businesses—property taxes and sales taxes—were each much larger than the total amount of state corporate income taxes.
. . . Census data shows that in 2012, 7.1 percent of California’s overall state tax revenues came from corporate income taxes. . . . This is an above-average share of state tax revenues derived from corporate income taxes. Specifically, the average share among the 50 states was 5.1 percent of tax revenues.
The Sacramento region placed 97th on a list of the 100 largest U.S cities ranked by employment rate for young people aged 20 to 24. For teenagers, the region placed 82nd.
The Brown administration released a blueprint Thursday for increasing California exports and foreign investment, mostly though educating statewide businesses on trade opportunities and by strengthening relationships with federal and foreign trade officials.
Los Angeles’s entertainment and San Francisco’s tech industries are the state’s two big cash cows, home to powerful, rich, and mostly left-leaning industry leaders who support the state’s deep blue and green politics. All too often, the policies championed by the LA and San Francisco elite make life harder for people in poorer, inland parts of the state by increasing red tape and taxes and driving much-needed businesses to neighboring states.
California Ranks Fourth in Total Live Action Film Project, Job and Spending Counts.
Since the Great Recession began in late 2007, that path has narrowed because many of the next-tier jobs no longer exist. That means more lower-wage workers have to stay put. The resulting bottleneck is helping widen a gap between the richest Americans and everyone else.
The Germany-based drug maker makes the blood-clotting hemophilia A drug Kogenate in Berkeley and recommitted to that facility in 2011 with a four-year contract for its unionized workforce. But the company said Tuesday that two experimental drugs will add to its pipeline and it needs to expand German facilities in Leverkusen and Wuppertal by 2020.
Starting next year, the law will force fuel distributors into the same cap-and-trade marketplace as utilities and major manufacturers. The oil industry says it will lead to price increases of at least 12 cents a gallon immediately, while state regulators say any price spikes could vary widely, from barely noticeable to double-digits.
So it came as a punch to the gut when Tesla Motors Inc., one of the few bright spots in California manufacturing, announced two weeks ago that it plans to build a “gigafactory” in some Western state not named California.