Manonthestreet
Diamond Member
- May 20, 2014
- 36,183
- 25,083
- 1,945
California already has the highest state income tax rate, at 13.3%, and voters have already raised taxes on the wealthiest residents to pay for education and mental health services. Proposition 30 would push the top-earner rate to 15.05%, which is much higher than other states, most of which have income tax rates in the single digits. The state’s dependence on wealthy residents’ income, which is often tied to investments and the stock market, creates tremendous instability in the budget. Revenues sharply rise and fall with Wall Street, leading to feast-or-famine cycles. It doesn’t make sense to pin another priority on such a volatile funding stream. Proposition 30 could also drive investors who fund high-risk technologies out of the state. Endorsement: No on Proposition 30
Why do they hate the chirren
Why do they hate the chirren