Skip to comments.Californians approve massive tax hike on the wealthy
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 $6 billion a year, on average, over five years.
Proposition 30, which Governor Jerry Brown has lobbied heavily for, captured 54% of the vote. Its approval prevents massive budget cuts to the state's public schools and universities.
Brown built the tax hike into his budget so its passage was critical. Among the hardest hit by the Great Recession, California has had to slash billions of dollars from its budget in recent years to close yawning deficits.
Taking a gamble, Brown went directly to the people with the tax measure this year after losing a battle with Republican lawmakers in 2011 to put the increase before voters.
(Excerpt) Read more at money.cnn.com ...
F*^&$ng stupid people.
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.
This is good because now I get to build my choo choo
BS. It will probably cost them $3 to $6 billion per year.
As if it’ll bring in that much. Grab what you can and flee the state folks.
Time to invest in a moving company, and property in Texas.
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
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.
Yeah, cause I’m really Ted Turner and I own CNN and am trying to trick you into clicking on it. /s
Probably have to take them to a gunshop right off the bat, get new holsters, loaders, that sort of thing.
Please no Californians, Oregonites, or anyone from Illinois, Ohio, Michigan or any of the Northeastern states...: )
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?
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.
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.
Used to live in CA. Glad I moved to WY, no state income tax and a balanced budget.
I’m living in Michigan now, but I was born in Indiana.
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.
When the wealthy leave California en masse, the people left are gonna be so screwed!
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