IIRC there are about 2,500 California state income tax returns that pay about 90% of the California state income tax collected. The dumb asses is Sacramento never ask “What happens if a lot of the people in the top tax brackets leave California?”
“IIRC there are about 2,500 California state income tax returns that pay about 90% of the California state income tax collected.”
87 billion personal income tax was collected in california in 2017 ... .9 of that is 78.3 billion
figuring all of that is taxed at the top rate of 13.4%, then those 2,500 tax payers had a combined taxable income of 584 billion.
that seem very unlikely, particularly given that the top 1% of taxpayers paid only 48% of the total income tax:
“The latest figures have just been released, and the top 1% paid nearly half — 48% — of the state’s personal income taxes in 2014.”
http://www.latimes.com/politics/la-pol-sac-skelton-bernie-sanders-tax-revenue-20160502-story.html#