While 1 percent may not sound like much, if it’s 1 percent of $700 billion, it’s a lot of money to anyone not named Bezos, Gates or Buffet.

Californians spend roughly that much each year on taxable goods, everything from chewing gum to earthmoving equipment, and sales taxes can run as high as 10 percent.

Email Dan Walters of CalMatters at dan@calmatters.org. CalMatters is a nonpartisan, nonprofit journalism venture committed to explaining California’s policies and politics. For more columns by Walters, go to calmatters.org/commentary.