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!
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.
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.
Funny I am looking into jobs for me and wife in Spokane Washington. We are considered wealthy although we are not millionares.
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.........
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?
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.”
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.
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.
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.
Simple 2-step plan for wealth protection.
1) Change of address to Arizona or Utah.
2) Learn to use an airport.
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.
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.
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.
Those who do not believe this do not understand the history of mankind.
I wonder how long it will take for Prop 13 to fall.
If you like Detroit, you’re gonna love the new California...
That is absurd. There will be nothing left to run and no one left to run it.
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.
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”.
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.