Governator Proposes Flat Tax For California

CA Gov. Arnold is Schwarzenegger is looking at all possible ideas to curb the Golden State’s budget woes “no matter how daring or radical,” reports Stephen Moore in the Wall Street Journal. An advisory commission on taxes formed by the governor is considering a flat tax at about 6% to replace both the income and business taxes that currently overburden the top 1% of earners in California and drive businesses out of the state.