A tax break for the billionaire Fisher family

10.07.10 - 12:13 pm | Tim Redmond |

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Don Fisher photo by Luke Thomas

The L.A. Times reported Oct. 6 that the Fisher family -- the heirs to right-wing power-broker Don Fisher's GAP fortune -- is set to get a $20 million tax break in the new state budget. It's astonishing, and an example of how the backroom budget process is utterly corrupt.

From what I hear in Sacramento, the proposal came from the Republicans, although so far, nobody outside the small circle of budget dealmakers knows exactly which legislator or lobbyist pushed the issue. And it now appears, I'm told, that the tax break won't be in the main budget; it will be addressed later in the week, as part of another bill.

But it's not going to be easy to defeat -- there are plenty of Democrats who support the deal, in part because the Fisher family is saving some old-growth redwoods.

But please: This is one of the richest families in America. These folks don't need a $20 million handout from the state of California.

California Budget

Comments

Fisher Tax Break

Great we know they're wealthy and the Bay Guardian doesn't agree with their politics but shouldn't a news article inform us at least to general facts about this "tax break" ?

It appears the Guardian is suggesting that our opinion about the appropriateness of legislation be determined by the assets and political view points of those who might benefit. It is possible that the tax break is an incentive to the Fishers to do something that has value to the public in excess of the tax benefit? That on consideration of the costs and benefits we might think it's a good deal for the public? What ever the truth, the Guardian has done an excellent job of not promoting informed and objective decision making.

Posted by Guest John on Oct. 07, 2010 @ 4:26 pm