FROM Christopher Edley, Jr.
Will the State Tax System Be Reformed? The sales tax in California may be the nation's highest, but 53% of state revenues come from the income tax. That creates problems, because incomes rise and fall with the stock market and the economy, creating the ups and downs that defy planning and lead to continuing budget crises. Governor Schwarzenegger and the legislature created the Commission on the 21st Century Economy to develop a new system. The Commission's final report won't be presented until later this week, but its principal features are known. It would eliminate the sales tax and the corporate income tax and flatten the personal income tax by eliminating the top brackets. Lost revenue would be replaced by something called the Business Net Receipts Tax or BNRT.
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
Venezuela spirals into economic and political chaos Venezuela, a country whose potential for prosperity is unmatched, finds itself on the verge of civil war. What sustains the repressive government? With time running out, guest host León Krauze looks at what the international community can do to pull the country from the edge of collapse.
Is the threat from Russia missing from the Russia meddling probe? There's much being made about the Trump administration's possible ties with Russia. But the bottom line is Russia's effort to influence American democracy. Do the President and his aides care enough to take action before voters go back to the polls?