'FAIRNESS': w/ CA Prop 30, Just 144,000 California Households (1% of taxpayers) Pay HALF the Tab...

Reaganite Republican ^ | 27 November 2012 | Reaganite Republican

[Reaganite Republican]

Yet even with 10% of wage-earners generating 

80% of Golden State income tax revenue, 

middle class schmoes making $48,000+/yr 

 still get socked with 9.3% on top of their IRS bill...

You have to wonder if any of the heavily-taxed hipsters out in Cali realize that Russia -you know, that country that used to simply lock-up capitalists and take their stuff- now has a pro-business national flat tax of just 13%, with NO state/local income taxes to speak-of... when some people in high-tax US states will soon be paying combined state/federal rates approaching 50%.

To add insult to injury, the new California 'Prop 30' taxes -which include an additional 1% surcharge on incomes over $1M/year- are retroactive to January 1st, 2012... nice, huh.

Sez Doug Ross: 'Fairness. That's the word I associate with massive, bloated, Democrat-controlled failed states like California... the US is next.

____________________________________________________________________

DougRoss@Journal   BadBlue   Bankrate.com   Jennifer Braceras

[Reaganite Republican]

*** PING ***

[Del Rapier]

California is effectively a runaway train at that point,with the left burning capital instead of coal.Once you burn the rich,anyone with a real income then you are crippling future revenue.

By the time Proposition 30 will have expired,California will have already passed another one as its budget will still be in the red.At that point people willing to invest in that State will be mighty scarce.

[Graewoulf]

Obamanation Communism File.

[SoldierDad]

Run away train? No! California is the Titanic, and the bow is close to breaking off.