The FDA has released, as expected, its new list of suspected cancer-causing agents, including Mom, apple pie, the flag, strawberries, Chevrolets, senior proms, family reunions, Western movies, square dancing, hot dogs, baseball, holding hands, and the light of the silvery moon.
Remember all the terrible things that were supposed to happen to California after Proposition 13? Fortune reports in its current issue that the $6.4-billion property tax cut (Prop. 13) and the $1-billion cut in state income taxes have stimulated California’s economy, yielding the following: 1) personal income up 14 per cent, 2) consumer spending and retail sales up 14 per cent, 3) 552,000 new jobs in the private sector—compared with 17,000 laid-off local government workers, and 100,000 who quit or retired. If that isn’t enough, add an additional $1 billion in state revenues from business and sales taxes, and undiminished revenues from income taxes despite the $1-billion tax cut. California will end fiscal 1979 on June 30 with a budget surplus of around $3 billion.
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