Taxes: We Can’t Afford the Rich! March 18, 2008

Taxes: We Can’t Afford the Rich!

SF Gray Panthers General Meeting – All Welcome!
Tuesday, March 18, 12:30 PM
Fireside Room, Unitarian-Universalist Center
1187 Franklin St, between Geary & O’Farrell

California has 95 billionaires worth $102.9 billion. Yet, hundreds with incomes above $200,000 pay no income tax at all. The gap between our state’s rich and poor is becoming a canyon. Hourly wages of low-income workers over the last 30 years have dropped 7.2%. High earners wages have jumped to 18.4%. The state’s top 1% saw their incomes rise 108% from 1995-2005.

Schwarzenegger says we have a $14.5 billion state deficit, and he will not raise taxes. Instead our governor and many legislators plan to butcher social services including: slashing Medi-Cal; stealing millions from education funds that were guaranteed by Prop 98; and delaying cost of living increases on welfare payments. Meanwhile recession looms, and economists say the usual fixes won’t work.

It’s certainly true: the usual fixes are not going to work. Huge new sources of revenue must be found, and they must come from those who can afford to pay them. The rich are becoming an unsustainable luxury, that we can’t afford anymore. Come bring your ideas about what we can do, and find out what others are thinking and planning.

For more information about the meeting, go to
http://graypantherssf.igc.org/08-03-newsletter/08-03-GPNL-meeting.htm

SF Gray Panthers
1182 Market St. Rm. 203
SF CA 94110
415-552-8800
Graypanther-sf@sbcglobal.net
http://graypantherssf.igc.org/index.html

Official Website: http://graypantherssf.igc.org/08-03-newsletter/08-03-GPNL-meeting.htm