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View Diary: California's Succeeding Despite Antitax Hurdles (105 comments)

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  •  You need a ballot initiative to raise taxes. (0+ / 0-)
    •  CupofJoe - there are two on the ballot in Nov (1+ / 0-)
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      Prop 30 is sponsored by Gov Brown, the Dem legislative leadership, and organized labor. It would raise the top marginal rate to 13.5% for family incomes over $250,000, up from the current top rate of 10.5% and raise the sales tax 1/4%. The current top state income tax rate in the US is 11%. I think Prop 30 will not pass.  

      Prop 38 would raise taxes on everyone except the lowest income earners and the funds would be allocated directly to K-12 education in a manner that does not allow the state to simply reallocate state revenues by substituting the new funds for existing state educational funding. I think that Prop 38 may pass. People like the idea that the new tax revenue will directly add to funds for K12 education.

      "let's talk about that"

      by VClib on Sun Sep 09, 2012 at 07:01:13 PM PDT

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