New report finds the expiration of tax cuts would devastate San Diego economy.
Maureen Cavanaugh, KPBS MIDDAY EDITION
Thursday, August 23, 2012
CAVANAUGH: The budget office said the end of the Bush tax cuts would throw the nation into a recession. Is that prediction reflected in your report on the impact on San Diego?
BRUVOLD: Absolutely. And San Diego actually probably will experience even a greater downturn than the rest of the nation. And that's for a couple reasons. One, it's pretty obvious, we've got a large military presence here. And military contractors specifically would be targeted by the budget cuts if they go into automatic mode. And the second thing is that household incomes in San Diego are higher than the rest of the nation, so the progressive income tax, and the expiration of the bush era tax cuts hits certain San Diego families more than they would the average taxpayer.