Voters like taxes someone else has to pay, and have already raised or reasserted income taxes on high earners twice in the last 10 years. The initiative is a “cynical scheme devised by a single corporation to funnel state income tax revenue to their company.” — Gavin NewsomGov. The measure (also designated Proposition 30) raised the sales tax from 7.25 percent to 7.5 percent. All of that left the top income tax rate at 13.3. This year, if (the current) Proposition 30 passes, California’s millionaire tax will jump past 15 percent.

Source: Los Angeles Times July 28, 2022 18:44 UTC