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Alicia Sotherland
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Mbt Women's Mahuta

Mbt Women's Mahuta

Mbt Women's Mahuta

Mbt Women's Mahuta

Mbt Women's Mahuta

Tax breaks aren't a good way to create jobs. That's the central point of a study released this week by the backers of Proposition 24, a state ballot initiative that would roll back three business tax breaks approved by the Legislature in 2008 and 2009. The study, done by an economics and urban planning professor from the University of Iowa, challenges the findings of another study that found Proposition 24 would cost the state hundreds of thousands of jobs. "When you see claims for very substantial job gains from tax cuts at the state and local level, there's reason to be skeptical," said Peter Fisher, the retired professor who prepared the pro Proposition 24 study. "State and local taxes on business are a very small share of the total cost of business operations. It's unlikely that could have a very large effect on jobs." Proposition 24 would eliminate three tax breaks: one that lets related Mbt Women's Mahuta companies share tax credits, another that lets businesses get a tax refund if they lose money and a third that lets businesses with operations in multiple states to be taxed only on their sales in California rather than on their sales, property and payroll. Fisher estimated that the tax breaks, which are estimated to take more than $1 billion out of the state budget each year, would help create only about 4,300 jobs He said taxes represent less than 2 percent of the cost of doing business. At the same time, he said losing $1.27 billion in annual revenue could force the state to fire more than 20,000 state employees. "The tax breaks themselves are costing employment," Fisher said. "And it's unlikely in the wrong they're going to do much for job creation." That finding flies in the face of a report by the Rose Institute of State and Local Government at Claremont McKenna College. In that report, Claremont McKenna economics professor Joshua Rosett wrote that, by eliminating the tax breaks, Proposition 24 would prevent between 146,000 and 322,000 jobs from being created. The breaks, Rosett said, would create a more business friendly climate, which would ultimately lead to more jobs, more taxpayers and more money for the state. But Fisher said the breaks would largely benefit large corporations that won't necessarily change their hiring or other activities based on state Vans Grey Gum Sole

Mbt Women's Mahuta

Mbt Women's Mahuta

Mbt Women's Mahuta

would come from the change in how multi state businesses are taxed. She said that change would benefit large corporations, not small businesses. "We're seeing a lot of small business people who are being used as spokespeople for the No on 24 campaign, even there there's a very small amount of tax (benefit) at stake for them," Ross said. Scott McDonald, a spokesman for the No on 24 campaign, said the large companies that would benefit from the tax change and the small businesses Vans Runner Og

Mbt Women's Mahuta

Mbt Women's Mahuta

Tax breaks hurt

Mbt Women's Mahuta

that would benefit from getting tax refunds for losses would both benefit if 24 fails.

taxes. "Most of the breaks go to firms that aren't doing anything different that would be doing the same thing otherwise," he said. Jean Ross, executive director of the California Budget Project, said the bulk of the tax breaks' benefit to businesses Mbt Kisumu 38

Mbt Women's Mahuta

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