Wednesday, November 07, 2012

California Votes to Raise Taxes On Everyone: Jerry Brown Gets His Massive Tax Increase

The New York Times reports:
California voters decisively approved a ballot measure on Tuesday that will raise taxes by $6 billion annually over seven years, heeding the pleas of Gov. Jerry Brown, who said the new revenues were necessary to save the state’s public schools and balance the budget.
There's more:
Under Mr. Brown’s tax initiative, income tax rates for those earning more than $250,000 annually would be raised for seven years, and a one-quarter-cent increase in the state sales tax would be put in place for four years.
Higher taxes for everyone out in California! They sure like the status quo of slow growth out there!