Revenue gains from Brown's tax measure disputed

The governor says that his ballot measure would generate nearly $6.9 billion annually over the next five years. But the state Legislative Analyst's Office says that the plan would bring in only $4.8 billion in 2012-13, and about $5.5 billion in following years. One problem, says the LAO, is trying to predict tax revenues from upper income Californians (a very volatile category). It's not all that surprising to have differing revenue estimates over a period of years - the economy is always moving, always shifting, and there's no way to draw precise numbers. Still, opponents of the tax-raising initiative are likely to jump in the divergent forecasts. (LAT)