Missing: California’s $500K Earners Dwindle

Bloomberg reports:

Governor Jerry Brown’s plan to balance the state budget in part with higher taxes on the wealthy depends on a group of top earners that shrank by one-third from 2007 to 2009.

Tax returns with adjusted gross incomes topping $500,000 fell to 98,610 in 2009, the latest year available, from a recent peak of 146,221 two years earlier, according to data from the Franchise Tax Board, the state agency that collects income and corporate taxes.

Taxes haves consequences. Also known as going Galt.