I have a post on my other blog under the above title, which takes off from Charles Duhigg''s recent piece on Apple Computer's global effort at maximum tax avoidance. Mine argues that Apple isn't actually supporting an innovation economy anymore, but something closer to a Bizarro innovation economy that undermines its own basic preconditions, as seen at left.
I found the article on Apple while looking for voting results on the UC Academic Senate
memorial calling on the UC regents to support ballot measures increasing higher
ed public funding. So far, the recorded votes are: Berkeley:
370-37 in favor; Irvine
476-24; and Santa Barbara 431-19. Turnout seems to have been good, recorded as 31% at Irvine and 40% at UCSB.
But of course the Regents can only receive state general fund money from a state government that is willing to raise it. Jerry Brown is presiding as an austerity governor, continuing the cuts that Schwarzenegger began. Austerity is a policy of choice, and is not new. The California Budget Project's recent chartbook shows that taxes as share of personal income have fallen more in California than in all but four other states (p 13) (they are 2.4% lower than in 1977), and that corporate incomes have been decoupled from corporate tax liability: from 2000-2010, California corporate income rose 204% while tax liability rose 37% (62). An earlier CBP report showed that the share of corporate income paid in taxes is half of what it was in 1981 (California's Tax System,p 7).
But of course the Regents can only receive state general fund money from a state government that is willing to raise it. Jerry Brown is presiding as an austerity governor, continuing the cuts that Schwarzenegger began. Austerity is a policy of choice, and is not new. The California Budget Project's recent chartbook shows that taxes as share of personal income have fallen more in California than in all but four other states (p 13) (they are 2.4% lower than in 1977), and that corporate incomes have been decoupled from corporate tax liability: from 2000-2010, California corporate income rose 204% while tax liability rose 37% (62). An earlier CBP report showed that the share of corporate income paid in taxes is half of what it was in 1981 (California's Tax System,p 7).