Unlucky Proposition 13

Article Abstract:

Although Proposition 13 was overwhelmingly approved when presented to the California voters, recent court decisions have begun to chip away at the bill's power. Those who watch the court reactions to Proposition 13 warn other states that just passing tax limiting legislation is not the end of the battle. Constant vigilance is needed to insure that taxpayers' wishes are continously met, and to protect against those who wish to circumvent the intent of the legislation. Californians are now considering reducing the amount of time the state legislature spends in session, both to reduce government expenses and to help legislators become more attuned to the wants of their constituents.

Cases, Courts, Tax abatement

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RECESSION BECOMES A NEAR-CERTAINTY

Article Abstract:

A SURVEY OF THE UNITED STATES CHAMBER OF COMMERCE CONDUCTED BY THE GALLUP ORGANIZATION REVEALS THAT BUSINESS, ESPECIALLY EXECUTIVE, EXPECTATIONS OF A RECESSION ARE UP 50 PER CENT SINCE SPRING. THE SURVEY EXPLORED THE PROBABILITY OF DOUBLE-DIGIT INFLATION, RECESSION, AND WAGE-PRICE CONTROLS WITHIN TWO YEARS. BUSINESS TAX RELIEF OF VARIOUS KINDS FOUND STRONG SUPPORT.

Economic aspects, Depressions, Economic depressions

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SELF-EMPLOYED FIGHT IRS ON WITHHOLDING

Article Abstract:

THE INTERNAL REVENUE SERVICE IS SEEKING TO RECLASSIFY SELF-EMPLOYED PEOPLE AS EMPLOYEES OF A BUSINESS USING THEIR SERVICES. THE BUSINESSES WOULD BE REQUIRED TO KEEP DETAILED RECORDS AND WITHHOLD A PORTION OF THE SALARIES. INDEPENDENT CONTRACTORS ARE HOPING THAT TWO PROPOSED BILLS WILL CLARIFY THEIR TAX STATUS.

Self-employed persons, Self employed persons

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