Let’s make a deal for education funds
By Kathryn Baron/Thoughts on Public Education
A group of billionaires, old-line political movers and shakers, and influential advocates released their recommendations Monday for changing the state’s tax structure to increase state revenues by $10 billion a year, with half of that going to K-12 schools and community colleges and another $2.5 billion for the University of California and California State University. The Think Long Committee for California, chaired by Nicolas Berggruen, founder and president of Berggruen Holdings, intends to place two initiatives on the 2012 ballot to overhaul the state’s tax and finance structures, and to amend the school funding law, Proposition 98. The proposals, explained in the committee’s 24-page report, A Blueprint to Renew California, seek to get the state out of debt by reducing personal income taxes at every level, cutting corporate taxes, and reducing sales taxes for consumer goods while extending them at a higher rate for services like haircuts, accounting, and car repairs. (more...)