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Californians approve massive tax hike on the wealthy
CNN Money ^ | November 7, 2012 | Tami Luhby

Posted on 11/07/2012 9:37:43 AM PST by rightwingintelligentsia

NEW YORK (CNNMoney) -- Californians approved a measure Tuesday that raises taxes on the wealthy and hikes the state sales tax. It is expected to bring in $6 billion a year, on average, over five years.

Proposition 30, which Governor Jerry Brown has lobbied heavily for, captured 54% of the vote. Its approval prevents massive budget cuts to the state's public schools and universities.

Brown built the tax hike into his budget so its passage was critical. Among the hardest hit by the Great Recession, California has had to slash billions of dollars from its budget in recent years to close yawning deficits.

Taking a gamble, Brown went directly to the people with the tax measure this year after losing a battle with Republican lawmakers in 2011 to put the increase before voters.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy; US: California
KEYWORDS: california; jerrybrown; proposition30; taxes

1 posted on 11/07/2012 9:37:54 AM PST by rightwingintelligentsia
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To: rightwingintelligentsia
The "wealthy". Right.

F*^&$ng stupid people.

2 posted on 11/07/2012 9:40:21 AM PST by skeeter
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To: rightwingintelligentsia

Not going to fall for your trick. Will not click on the CNN link and give any traffic to the enemy of myself, my family and my country. No aid or comfort to the enemy.


3 posted on 11/07/2012 9:41:03 AM PST by all the best (`~!)
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To: rightwingintelligentsia

This is good because now I get to build my choo choo

4 posted on 11/07/2012 9:42:12 AM PST by Zakeet (Calling the Obozo/Bernack economy sluggish is an insult to slugs)
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To: rightwingintelligentsia
It is expected to bring in $6 billion a year, on average, over five years.

BS. It will probably cost them $3 to $6 billion per year.

5 posted on 11/07/2012 9:42:52 AM PST by kosciusko51 (Enough of "Who is John Galt?" Who is Patrick Henry?)
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To: rightwingintelligentsia

As if it’ll bring in that much. Grab what you can and flee the state folks.


6 posted on 11/07/2012 9:44:24 AM PST by Bogey78O (We had a good run. Coulda been great still.)
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To: Bogey78O

Time to invest in a moving company, and property in Texas.


7 posted on 11/07/2012 9:46:28 AM PST by garyb
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To: Bogey78O

state?

internet business can be run from any location on the globe

why would you move to another state... while still paying stupid taxes to the fed


8 posted on 11/07/2012 9:47:11 AM PST by sten (fighting tyranny never goes out of style)
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To: rightwingintelligentsia

I’m conflicted on this. While I relish the idea of the pathetically stupid Californians voting to punish themselves even more than they already have, I don’t want any more of them fleeing to my state.


9 posted on 11/07/2012 9:48:13 AM PST by noiseman (The only thing necessary for the triumph of evil is for good men to do nothing.)
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To: all the best

Yeah, cause I’m really Ted Turner and I own CNN and am trying to trick you into clicking on it. /s


10 posted on 11/07/2012 9:48:43 AM PST by rightwingintelligentsia (Be careful of believing something just because you want it to be true.)
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To: skeeter
Oh, cr*p, must be 75 to 100 of the inlaws who will be wanting to move out here.

Probably have to take them to a gunshop right off the bat, get new holsters, loaders, that sort of thing.

11 posted on 11/07/2012 9:49:05 AM PST by muawiyah
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To: garyb

Please no Californians, Oregonites, or anyone from Illinois, Ohio, Michigan or any of the Northeastern states...: )


12 posted on 11/07/2012 9:50:26 AM PST by jsanders2001
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To: rightwingintelligentsia

If Taxpayers who itemize deductions can subtract general state and local taxes in calculating their federal taxable income. Would this not lower your federal income tax and keeping more of your tax dollars in your local state?


13 posted on 11/07/2012 9:54:20 AM PST by ThomasThomas
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To: skeeter

The Left hasn’t figured out that government has a neverending and voracious appetite. It will never be satisfied. Soon they will lower the bar for what is considered wealthy and they will be the next targets. Truly most of the Californians do seem to be naive liberal idiots that trust their government far too much.


14 posted on 11/07/2012 9:54:57 AM PST by jsanders2001
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To: garyb

My wife and I are now very seriously considering moving to Texas (from Colorado) as well. We had semi-seriously discussed it before, but it is now crystal clear that we must choose sides, consolidate power, and prepare for the inevitable breakup.

It’s time for Atlas to shrug and leave the clueless leeches to feed off of each other until they’re dead. Maybe then we’ll be able to re-establish the United States of America. Maybe.


15 posted on 11/07/2012 9:55:12 AM PST by noiseman (The only thing necessary for the triumph of evil is for good men to do nothing.)
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To: rightwingintelligentsia

Used to live in CA. Glad I moved to WY, no state income tax and a balanced budget.


16 posted on 11/07/2012 9:55:48 AM PST by NEWwoman (God Bless America)
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To: rightwingintelligentsia
On a side note the Dems also now have a super-majority which means Prop 13 will be in the cross hairs. Once that is trashed watch out. The property taxes will skyrocket.
17 posted on 11/07/2012 9:56:29 AM PST by Polynikes (Hakkaa Palle)
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To: jsanders2001

I’m living in Michigan now, but I was born in Indiana.


18 posted on 11/07/2012 9:58:52 AM PST by garyb
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To: rightwingintelligentsia

I think the hidden card is the sales tax on gasoline. Pols in CAL really don’t mind the increase in gas prices. The higher the price, the more taxes they have to spend.

Last night “we” voted to give heroin to an addict.


19 posted on 11/07/2012 10:00:22 AM PST by morphing libertarian
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To: rightwingintelligentsia

When the wealthy leave California en masse, the people left are gonna be so screwed!


20 posted on 11/07/2012 10:03:49 AM PST by NRA1995 (CNN should be PNN (Propaganda, Never News))
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To: noiseman

You’re welcome to visit us here in Oklahoma. Reddest state in the nation with absolutely “zero” dems representing us in the US House or Senate.

Although we do have a state income tax it is getting gradually lowered with anticipation of eliminating it completely.

Our property taxes are much lower than Texas and our utilities are again much lower than Texas.

I’m over in Green Country, aka Tulsa area, and things are booming here. Low unemployment, low crime in my area and lots of things to do. To make it even more pleasant we just rejected a tax extension due to expire in 2015.

Oh, we have open carry as of November, something Texas doesn’t have.


21 posted on 11/07/2012 10:04:46 AM PST by A_Tradition_Continues (formerly known as Politicalwit ...05/28/98 Class of '98)
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To: rightwingintelligentsia

That bill will actively push more wealthy people and jobs out of the state. I live in California, and the quality of life is getting worse here for the middle class. We should the burden for the democrats, who steal our money and squander it among their friends and supporters. It’s like we are “shaken down” by the mob and forced to pay for protection from the very people who are supposed to protect us.


22 posted on 11/07/2012 10:11:07 AM PST by realcleanguy
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To: garyb

Funny I am looking into jobs for me and wife in Spokane Washington. We are considered wealthy although we are not millionares.


23 posted on 11/07/2012 10:12:22 AM PST by crazydad (-` sd)
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To: A_Tradition_Continues; noiseman
Sure...come to Oklahoma.

Colder than Pelosi's heart in the winter...And hotter than hell in the summer.

Ticks as big as mice..and chiggers the size of your thumb.

F3 tornadoes every spring, and hail the size of softballs.

Sure come to Oklahoma.........

24 posted on 11/07/2012 10:14:19 AM PST by Osage Orange ( Liberalism, ideas so good they have to be mandatory.)
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To: rightwingintelligentsia

People in this coutry say “tax the other fellow, don’t tax me!”

As long as a few rich people pay for the gravy train, who the heck cares?


25 posted on 11/07/2012 10:19:21 AM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: rightwingintelligentsia

The “rich” will move away, leaving California high and dry yet again, and the looters who pushed for and approved of this will have some explaining to do.

“Insanity is doing the same thing over and over and expecting different results.”

Albert Einstein


26 posted on 11/07/2012 10:21:51 AM PST by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: noiseman

Texas is trending towards blue.
Should be a blue state by the 2020 or 2024 elections

With no one to stop illegal immigration or amnesty, it’ll probably go blue sooner than later.


27 posted on 11/07/2012 10:22:02 AM PST by kidd
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To: rightwingintelligentsia
Even many FReepers don't get it. THE STATE OF CALIFORNIA IS WILLFULLY DRIVING THE PRIVATE SECTOR OUT SO THEY CAN TAKE COMPLETE CONTROL OF THE STATE.

California will be the first 100% government run State in the union. Part of the progressive left's grand experiment for a new 'National Socialist States of America'. No joke. They even helped STEAL an election last night and passed all the propositions that benefit THEM and drive MORE BUSINESSES OUT of California. THAT is the goal, people.

28 posted on 11/07/2012 10:28:50 AM PST by Obama_Is_Sabotaging_America
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To: A_Tradition_Continues

I like Oklahoma, and you make a good sales pitch. I’d love to see what would (will?) happen if the red states of Texas, Oklahoma, North Dakota, and Alaska formed a new confederacy of states and declared independence. The economies of the blue states would grind to a halt as they became starved for energy, while those four states would be self sufficient. It would be a beautiful thing to see.


29 posted on 11/07/2012 10:31:52 AM PST by noiseman (The only thing necessary for the triumph of evil is for good men to do nothing.)
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To: rightwingintelligentsia

Simple 2-step plan for wealth protection.

1) Change of address to Arizona or Utah.

2) Learn to use an airport.


30 posted on 11/07/2012 10:36:22 AM PST by VanDeKoik
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To: rightwingintelligentsia

Great! Now we’ll have lots of classes at colleges to educate people who will have no jobs when they graduate and will feel a sense of obligation to the state.


31 posted on 11/07/2012 10:38:00 AM PST by drew
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To: ThomasThomas

No. State taxes and property taxes are added back in for the AMT calculation. It just means you hit the AMT threshold sooner. You’re going to pay one way or the other.


32 posted on 11/07/2012 10:49:10 AM PST by gubamyster
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To: muawiyah
I'm hoping they'll let me stay here as kind of a tourist attraction or something.

An example of the kind of voter that used to make up half the electorate in this state and the last voter in CA who actually read and understood his ballot.

BTW some stranger just randomly asked me if I 'loved Obama's victory', accompanying his question with a fist pump. He did not get the response he expected.

33 posted on 11/07/2012 10:52:41 AM PST by skeeter
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To: jsanders2001
I just had this discussion with my daughter. They will not be satisfied - there will be more taxes, they will come for homes and businesses. They will not stop taking until they are made to stop.

Those who do not believe this do not understand the history of mankind.

34 posted on 11/07/2012 11:00:28 AM PST by skeeter
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To: rightwingintelligentsia

I wonder how long it will take for Prop 13 to fall.


35 posted on 11/07/2012 12:36:29 PM PST by Uncle Chip
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To: A_Tradition_Continues
Our property taxes are much lower than Texas and our utilities are again much lower than Texas.

That's great. People keep talking about moving to TX - but our property taxes were over 3% there a decade ago. Overall, we paid less taxes in CA. Those considering a move need to think about ALL the taxes paid, as well as the inidvidual freedoms. OK sounds perfect to me - if only it wasn't so humid and hot!
36 posted on 11/07/2012 1:42:52 PM PST by yorkiemom
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To: rightwingintelligentsia

If you like Detroit, you’re gonna love the new California...


37 posted on 11/07/2012 3:35:50 PM PST by Hotlanta Mike (The left has been at war with us...we have not been at war with them.)
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To: Obama_Is_Sabotaging_America
"California will be the first 100% government run State in the union."

That is absurd. There will be nothing left to run and no one left to run it.


38 posted on 11/07/2012 6:02:02 PM PST by ex91B10 (We've tried the Soap Box,the Ballot Box and the Jury Box; ONE BOX LEFT!)
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To: AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; Convert from ECUSA; ...

Thanks rightwingintelligentsia.
Proposition 30, which Governor Jerry Brown has lobbied heavily for, captured 54% of the vote. Its approval prevents massive budget cuts to the state's public schools and universities.
The a-hole who was superintendent of the city school system here a few years back (he didn't last long) stated that what was needed was law to prevent people from moving their kids out of the district and/or out of the school system.

The Limo Libs of Hollyweird will just vote in favor of stuff like this, then relocate to Colorado, Montana, or other rich recluse country. The rich foreigners (almost all drug dealers and sheikhs) evade taxes anyway. This won't work, and it will have a long, overhanging effect that will prevent recovery, since no one will want to move businesses into the state in years to come.


39 posted on 11/07/2012 8:59:56 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/)
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To: ex91B10

Not true. The health care buildings are still in America it’s just the management has changed. Feds run health care soon. Same principle. I said “government run” not “owned”.


40 posted on 11/07/2012 10:02:17 PM PST by Obama_Is_Sabotaging_America
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To: sickoflibs; stephenjohnbanker; DoughtyOne; Gilbo_3; NFHale; Impy

Judge Napolitano on Fox said that California would get a bailout in O’s second term. Since Cal always votes for a leftist POTUS anyway, they don’t need to buy the electoral votes. Maybe the idea is to have 100% of their US House members Dems too? Bailing out states is a frightening thought.

I don’t think GWB saw this coming when he started the bailout craze, but that is no excuse.


41 posted on 11/08/2012 4:19:48 AM PST by ding_dong_daddy_from_dumas (Fool me once, shame on you -- twice, shame on me -- 100 times, it's U. S. immigration policy.)
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