A 21st Century Economy: Gerald Parsky (GNLA)
January 27, 2010, 12:00pm
Summary:
On Wednesday, January 27th, Gen Next Los Angeles members and guests had the privilege to meet with Gerald Parsky at the exclusive Regency Club in Westwood for a luncheon discussion on, The Commission of the 21st Century Economy and business in California. Parsky shared with the group his insights into the current state of California’s tax structure and discussed the Commission’s report findings that were presented to Governor Schwarzenegger in September 2009.
Parsky began the discussion in context to the Commission’s goals which were to suggest changes that would lead to more reliable and stable state revenues, encourage growth and job creation, and improve the state’s ability to compete in the new economy. In particular, Parsky mentioned that the Commission sought out to establishing a system that was less volatile to fluctuations in the economy.
He presented the following six recommendations found by the Commission: 1.) Reduce and restructure the personal income tax. 2.) Eliminate the corporation tax and the franchise minimum tax. 3.)Eliminate the state General Purpose sales tax. 4.)Establish the Business Net Receipts Tax. 5.)Create an independent tax dispute forum. 6.)Establish a new Rainy Day Reserve Fund.
After Parsky's presentation he answered questions from members on the future plans for implementing the findings in the report. Many members were curious as to which and how many candidates for Governor were in support of the findings in the report and the likelihood of implementation. Parksy commended Gen Next and its members for engaging the independent thinker on the issues and using their collective talents to come together. Mr. Parsky is the founder of Aurora Capital Group and is the former Secretary of the Treasury for International Affairs.
Special thanks to The Chairman on the Commission of the 21st Century Economy, Gerald Parsky for his expertise and insight.
Detail:
Open to Members and Guests only. Guest list enforced. Must RSVP to attend. Adding the program automatically to calendar does not serve as a RSVP.
When:January 27, 2010 at 12:00p.m. - program starts promptly at noon
Where: The Regency Club - Terrace Room - 10900 Wilshire Blvd, Ste 1700, LA 90024
RSVP: Sarah@gen-next.org
Gerald Parsky is Partner at Aurora Capital Group. Previously, Mr. Parsky served as a Treasury Department and Federal Energy Office official from 1972-74, and as Assistant Secretary of the Treasury for International Affairs from 1974-77. For the next 13 years, Mr. Parsky was affiliated with the law firm Gibson, Dunn, and Crutcher, where he was Senior Partner and a member of the Executive and Management Committees. Present activities include: Regent, University of California; Trustee Emeritus, Princeton University; Trustee, George Bush Presidential Library Foundation; Board of Directors, The Irvine Company. Mr. Parsky is a graduate of Princeton University and the University of Virginia Law School. Learn more about the Comission of the 21st Century Economy.