Unconstitutional Proposition 30 Ready to Make California the Highest Taxed State
On Election Day 2012 the voters in California voted for an increase in sales tax, and a massive increase in State Income Tax on the wealthiest in the State. The claim was that the money was needed for education, but in reality it is going to be used to help pay for rising pension costs. The unions are powerful in California, and ensured that Proposition 30 passed, and Proposition 32, which would have limited how unions fund their favorite politicians, failed. In Britain, two-thirds of the top earners fled the country after the tax rate against them hit 50%. The resulting unintended consequence was a UK £7 billion loss in revenue. When the United Kingdom announced they would reduce that rate to 45%, 10,000 millionaires returned.
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