Angelides proposes middle-class tax cuts
File photo (8/12/6)
By Jason Bennert, Bay City News Service
August 16, 2006
SAN FRANCISCO (BCN) - State Treasurer Phil Angelides
today announced that, if elected governor in November, he would
propose a set of tax cuts that would benefit more than 4 million
families earning less that $100,000 annually.
Angelides, the Democratic nominee, unveiled his proposal at news
conferences in both Los Angeles and San Francisco.
"I will help hard-working families by cutting middle-class
taxes, rewarding work, and making college and health care more
accessible and affordable,'' Angelides said.
Angelides' proposal includes an income tax credit of up to $660
per year for those earning less than $46,000 annually as well
as increasing the state's dependent income tax credit by $200
per child to $483 per year.
A spokesman for the campaign of Gov. Arnold Schwarzenegger, Angelides'
Republican opponent, said Angelides has historically supported
tax increases and not cuts and has already promised to raise taxes
for many state residents if elected.
"Phil Angelides has no credibility talking about tax breaks
considering he has spent his entire career supporting tax increases.
It's laughable that 83 days out from the election, Angelides is
pandering on his central campaign promise of higher taxes,'' Schwarzenegger
campaign spokesman Matt David said in a statement.
In San Francisco, Angelides told a crowd of supporters that his
proposed tax increases would be relatively painless to them and
would only affect the wealthiest Californians.
"I'll make couples who earn more than half a million dollars
each year pay the same tax rate that Governors Reagan and Wilson
made them pay, for just three years, until we get back on our
feet. For someone earning a million dollars a year, that's about
eight bucks a day, not much more than the price of a couple lattes,''
Angelides was introduced in San Francisco by Sen. Dianne Feinstein,
D-Calif., who also is running for re-election this year.
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