Taxed! A FOX 11 California Dream Special - Los Angeles News | FOX 11 LA KTTV

Taxed! A FOX 11 California Dream Special

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We take a look at all the new taxes Californians are now paying, thanks to the passage of Prop 30. How does it affect your pocketbook, and the state's economy as a whole? Is it good to shore up the state's finances? Or better to unleash job creating entrepreneurs? You decide!

PART ONE: We voted for Prop 30, which was a big win for Governor Brown. But are some of us now regretting it? Tonight, we look at the benefits and costs of raising taxes in these shaky economic times. Ed Laskos and our "Saving the California Dream" producer Heidi Cuda discuss the issues with our Fox 11 Financial Analyst Neeraj Chaudhary and Joel Fox, President of the Small Business Action Committee.

PART TWO: Golfer Phil Mickelson hit into the rough when he complained about California's higher taxes. He was criticized, but did he have a point? Some people aren't happy that he apologized for his comments.

PART THREE: A new ruling means thousands of California businesses will have to pay back taxes on several years of capital gains deductions that a no longer allowed. Now many small business owners are being socked with a huge tax bill they were not expecting.

PART FOUR: Dueling Governors Jerry Brown and Rick Perry are at it again. Perry is trying to convince California business owners to move to Texas and Governor Brown isn't happy about it. See what Brown has to say about Perry's latest attack on our state.


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