FILE – Justice Patricia Guerrero speaks during her confirmation hearing to the California Supreme Court before the Commission on Judicial Appointments Tuesday, March 22, 2022, in San Francisco. Gov. Gavin Newsom announced, Wednesday Aug. 10, 2022, that he has nominated Guerrero to serve as the next Chief Justice replacing Chief Justice Tani Cantil-Sakauye who is stepping down when her current term of office expires Jan. 2, 2022.
In addition to keeping taxes in this high-tax state from rising even higher, it would have provided stability for businesses and families. Their planning future budgets would have been more predictable. How will businesses react? Government functionaries, including the lawyers sitting on the court, seem to have little idea how businesses look at things. Here’s how: There’s always a bottom line. If expenses exceed income for too long, then the company goes broke.
For example, if a business knows taxes will rise 5%, it can plan for that. It might be able to absorb the increase by passing on costs to consumers, or cutting pay and benefits to employees. Or it might cut unprofitable product lines.in 1776 in “The Wealth of Nations”: “The tax which each individual is bound to pay, ought to be certain and not arbitrary.
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