As the "fiscal cliff" negotiations continue in Washington, it's anyone's guess how much more in taxes we'll be forced to pay next year. But we do know this: in 2013, overtaxed Californians will send even more of their hard-earned dollars to Sacramento than ever before, growing total state spending to a record $225 billion.
Since the majority of Californians voted for Gov. Jerry Brown's tax hikes in November, higher taxes and spending shouldn't come as a surprise. But there's one tax hike taking effect Tuesday that will no doubt catch many off guard.
Late this summer – before the recent election – two-thirds of the Legislature approved and the governor signed legislation imposing a new "Lumber Products Assessment" on some retail sales.
That might sound straightforward enough, but it's not – and that's one of many reasons why I oppose this new tax.
Source: Orange County Register. Read full article. (link)