Successful Californians must pay over 50% of their income at the top marginal rates in state and federal income taxes. That’s right – Obama’s tax hike created a 39% top Federal income tax bracket, and combined with California’s top of the nation 13% plus, our state’s most successful citizens aren’t working for themselves anymore, they are working for the government when they hit the top brackets.
But the “California Tax Hike Industry” isn’t satisfied. In the upcoming election, they want even more taxes. They want to keep California’s sales and income taxes the highest in the nation by urging voters to vote “Yes” on Proposition 55. They want even more “consumption” taxes on cigarettes by urging a “Yes” vote on Proposition 56. And more sinisterly, the California Tax Hike Industry has qualified about 200 local measures that ask voters to raise their property taxes (“for the kids” but really for the California Teachers Association who already benefit from high wages and great pension plans), raise and extend sales taxes (claiming the funds will fix roads, roads that should have been fixed in the first place but for overpaying civil servants and overly generous pensions), raise hotel taxes, raise parcel taxes, you name it, the professional tax raisers are really at it in this election.
Californians must simply say “No” to all these taxes!
Californians are already among the most heavily taxed citizens in the nation. Should Prop. 55 pass, that will continue, and things will only get worse should all the other local tax measures pass, driving up local sales taxes and property taxes even higher. Already considered an inhospitable place for businesses to locate and for successful people to live in (other than for the fine weather and lifestyle – if you can afford it), all these new taxes will guarantee that California continues to have the highest poverty rate in the nation, as it has for the last two years, when cost-of-living is factored. And can you imagine what successful people in California (the people who create jobs) will pay in taxes if Hillary Clinton is elected, and hikes yet again the Federal marginal tax rate above the Obama levels?
In the upcoming election, we may not have clear choices on many of the candidates on the ballot, but one thing is for sure: the last thing California needs is more taxes!! Just say “No” to them!!