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Real World Economics: Things to consider with a fifth state tax bracket

Published Fri, 22 Nov 2024 09:58:50 GMT

Edward LottermanThe DFL majority in the Minnesota Legislature is considering adding a fifth tax bracket to our income tax, one that would levy an additional 1 percentage point on incomes above $600,000. The new top rate of 10.85% would be paid by some 24,000 filers at an estimated average cost near $10,000 each. Is this a good idea?As is often the case on public issues, a pithy quote from Colbert may provide insights — referring to the 17th century French finance minister Jean-Baptiste, not late-night talk show host Stephen. King Louis XIV’s most competent official supposedly said that “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing.”That is a political judgment of feasibility, not of economic efficiency or fairness. But as another great European minister, Prussia’s Otto von Bismarck, said, “politics is the art of the possible.” Legislators today need to be aware of these p...

Downed wires in Rensselaer cut power

Published Fri, 22 Nov 2024 09:58:50 GMT

RENSSELAER, N.Y. (NEWS10) — Hundreds in Rensselaer County are without power. Both Rensselaer Police and Fire are on the scene at Broadway and Columbia Street (Routes 9 and 20) and in the Port of Rensselaer with multiple wires down.Officials urge caution in the area. Any stop light that does not have power must be treated as a four way stop. All vehicles must stop.National Grid was notified. At around 9 a.m., police said there was no estimated restoration time. National Grid's outage map, however, indicates an 11:45 a.m. restoration.

California’s new 1st time home loan program is already running out of cash

Published Fri, 22 Nov 2024 09:58:50 GMT

California's Dream For All Shared Appreciation loan program, designed to help make home-buying easier for prospective buyers in the Golden State, is already running out of money.The program, which launched on March 27, was available to help first-time homebuyers with down payments.The state has already fully allocated the estimated $300 million set aside for the program as of April 7, Eric Johnson, spokesperson for California Finance Housing Agency, told KTLA. "Demand was unprecedented, and we have more than 2,500 families reserved and locked in to purchase their first home," Johnson said. To qualify for the program, households must have earned less than the CalHFA’s income limit, which vary by county and range from $159,000 to $300,000.Those who took advantage of the program must repay the original down payment loan plus a portion of the home’s appreciated value if they sell or transfer the property.Additional funding for the program would have to come from the state budget process...

Woman in critical condition after Santa Ana bar shooting

Published Fri, 22 Nov 2024 09:58:50 GMT

A woman was hospitalized in critical condition following a shooting at a bar in Santa Ana early Sunday morning.The shooting took place at Proof, located in the 200 block of North Broadway in downtown Santa Ana, around 1 a.m. Officers with the Santa Ana Police Department responded and found a woman suffering from gunshot wounds inside the bar. She was rushed to a trauma center in critical condition. A man was taken into custody as a “person of interest,” police said. Authorities were trying to determine whether or not the suspect and the victim knew each other and what led up to the incident.Anyone with information is urged to contact the Santa Ana Police Department.This is a developing story. Stay with KTLA for updates. 

Take a run or a stroll through Los Gatos at spring events

Published Fri, 22 Nov 2024 09:58:50 GMT

It’s the time of year to lace up your jogging shoes and join the Rotary Club of Los Gatos for the 45th annual Great Race April 29 at 8:30 a.m. the course covers 4 miles through Vasona and Oak Meadow parks, with access to trails many have never seen. For safety, aid stations and course monitors ensure that all participants stay on course. For the kiddos, there will be a special 1-Mile Kids Fun Run at 8:10 a.m. prior to the main event. Proceeds from the race will, as always, support scholarships for local high school youth as well as Los Gatos Rotary’s local and global service projects. Prizes will be awarded, and professional photos are included with registration to show off athletic prowess. https://raceroster.com/events/2023/71964/2023-rotary-club-of-los-gatos-great-raceThe Los Gatos Spring Wine Walk is around the corner. It’s a great chance to take a stroll around downtown while enjoying wine tasting and food samples from local shops and restaurants. Dozens of local wineries...

Eagle Scout maps Saratoga Village

Published Fri, 22 Nov 2024 09:58:50 GMT

Mapping Saratoga VillageFor his Eagle Scout service project, Larry O’Brien created a new large map of the Saratoga Village documenting all the buildings and points of interest in the downtown area. This map has been posted in four kiosks throughout downtown Saratoga.O’Brien has created a small trifold version of the map and provided it to the Saratoga Chamber of Commerce. This trifold can be used by visitors to find their way around when visiting the Saratoga Village.To complete his Eagle Scout service project, O’Brien led a team of 21 volunteers for a total of 140 volunteer hours. He earned his Eagle rank last December.SHS stages ‘Mamma Mia!’Tickets are on sale for Saratoga High School’s spring musical “Mamma Mia!” Saratoga High School Drama students are staging the show, based on the music of ABBA, April 28-May 6 at the high school’s McAfee Center, 20300 Herriman Ave.Ticket prices and showtimes are available at https://mcafeecenter.ludus.com/index.php?sections=ev...

VivaCalleSJ route runs from ‘Willow to Roses’ April 23

Published Fri, 22 Nov 2024 09:58:50 GMT

VivaCalleSJ’s “Willow to Roses” route will close streets to vehicle traffic April 23 from the San Jose Municipal Rose Garden to downtown Willow Glen to the south and San Jose State University to the east.VivaCalleSJ is a free recreational program that closes miles of San Jose streets for a day so that people can walk, bike, skate or use other forms of transportation to explore the explore the city. Participants can start anywhere along the route and head in whatever direction they choose.The event runs 10 a.m.-3 p.m. Streets along the route (see map) will be closed from 6 a.m. to approximately 3 p.m. on the day of the event, and driveways on the route will be blocked during that time. The streets are expected to fully reopen by approximately 4 p.m.VivaCalleSJ’s “Willow to Roses” route will close streets to vehicle traffic April 23 from the San Jose Municipal Rose Garden to downtown Willow Glen to the south and San Jose State University to the east. (Courtesy photo) No cars are ...

Milpitas launches traffic safety survey

Published Fri, 22 Nov 2024 09:58:50 GMT

Traffic safety studyThose who live or work in Milpitas can weigh in about any safety challenges they have experienced driving, biking, walking or using other transportation modes within the city. The city is conducting a survey as part of a study to identify traffic safety improvements, strategies and actions. Survey responses will be considered in developing this study. Take the survey at https://engagekh.com/cityofmilpitas/study-area-map#.Storefront improvement grantsThe City of Milpitas is taking applications for its Storefront Improvement Grant Program, which provides grants for exterior commercial storefront improvements to help increase economic vitality for local businesses.The Milpitas City Council allocated $365,000 in American Rescue Plan Act (ARPA) funds for this purpose, of which $75,000 has been allocated for design services. Eligible landlords and business owners may apply for grant funding via a competitive application process.Eligible projects must be commercial busi...

Sunnyvale musician returns to San Jose for another release show

Published Fri, 22 Nov 2024 09:58:50 GMT

Nearly seven years after selling out her EP release show at Art Boutiki, Sunnyvale singer/songwriter Martha Groves Perry is returning to the venue at 44 Race St. in San Jose for the release of her new album, “Call Out.” The April 22 show will feature her new rhythm section, The MGP Band, with Kevin Kriner on bass and Yuri Selukoff on drums.Perry’s producer Kenny Schick, a former South Bay resident who now lives in Nashville, will open for her. The show marks his first in the Bay Area since he performed at Perry’s 2016 release show.Doors are at 8 p.m., and the show starts at 8:15 p.m. Tickets are $20 advance at app.gopassage.com/events/mgp-23-01 and $25 at the door.Longtime postal clerk retiresU.S. Postal Service retail clerk Sukhvir ‘Suki’ Phangureh retired March 31 after 36 years at the Sunnyvale Post Office. Her years of service have been marked by achievements such as recognition for submitting ideas to enhance retail products and services.Phangureh says she made it through her c...

Chris Cain plays the blues in Campbell

Published Fri, 22 Nov 2024 09:58:50 GMT

Chris Cain concertBluesman Chris Cain returns to Campbell April 23 as part of the Ainsley House Spring Garden Concert Series. Gates for the outdoor show open at 1:30 p.m., and the show begins at 2 p.m. in the Ainsley House garden at 300 Grant St.Cain has toured for nearly three decades, and produced 14 albums during a prolific career as a guitarist and vocalist. His first album was released in 1987, with the most recent being his 2021 release “Raisin’ Cain.”Tickets to his Ainsley House concert are $35 at http://www.campbellmuseums.com/shop.Earth Day scavenger huntThe Campbell Youth Commission and Parks & Recreation Commission are partnering for an Earth to Arbor Day Scavenger Hunt April 22-29 in downtown Campbell.Visitors to downtown can try to find the trees and features pictured at https://www.campbellca.gov/scavenger and match them with their locations.Scavenger hunters should find their way to the Campbell Creamery on April 30, 2-5 p.m., where the first 20 people to ha...