Californians back raising taxes on state's wealthy

[alp227]

Source: San Francisco Chronicle

With negotiations over how to solve California's $26.6 billion state budget deficit stalled, a new poll released today shows strong bipartisan support for something Sacramento lawmakers this year haven't seriously debated: raising taxes on the wealthiest residents.

Seventy-eight percent of likely California voters support a 1 percent increase in the income tax rate for Californians earning more than $500,000 a year, according to the poll, which was conducted by Democratic pollster Ben Tulchin and sponsored by the California Federation of Teachers.

A one percentage point increase, which would raise an estimated $2.5 billion a year, offers a possible Plan B for helping solve the budget deficit, with 60 percent of Republican respondents and 79 percent of independents and other voters backing it, along with 89 percent of Democrats. The maximum income tax rate is 9.55 percent, according to the Californian Franchise Tax Board.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/01/MNP21INRMH.DTL

[FreakinDJ]

1. Sanity at Last

you should see the number of yachts on SF Bay

[lark]

2. Try going to Santa Catalina island

yacht city!!

[glinda]

5. There is room in the Gulf to park their yachts if they don't wish to contribute.

[Skink]

3. let's get the referendum to abolish the state income tax on the ballot.

is this another April fools?

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Taverner]

6. Overturn Prop 13!!!!

And I say this as a California homeowner

[musette_sf]

7. word! +100K n/t

[musette_sf]

8. word! +100K n/t

[Gormy Cuss]

14. That would only cause a new property tax revolt.

A far better approach would be to limit Prop. 13 to primary residences with a value cap, or to tier the protections based on property value. There are other residential tweaks that could be made as well, such as removing or reducing the hereditary provision.

Taxing commercial real estate at market value would solve our budget problems for a long, long time.

[AllyCat]

9. Hmmm...tax the rich. What a novel idea... GO CA!!!

[liberal life]

10. Wasn't California looking into single payer before governator got in the way

This would save the state a fortune.


http://fucorporatemedia.com/

[quakerboy]

11. Bipartisan among the voters, not politicians, I feel safe in assuming.

[golfguru]

12. I hate that news

Now we will see another influx here in Oregon & Washington states
and inflate our house prices which have just become affordable.

[Le Taz Hot]

13. Since when do buyers determine price?

Sorry, but there's always been that pesky little GAPING HOLE in that old canard.

[CreekDog]

15. you think people will uproot themselves because of a small increase in tax rates?

come on. :eyes:

[RedCloud]

16. Revenue shortage is the answer Ahnuld!