California Voters Appear to Favor Higher Taxes for the Wealthy

It’s no secret that California has one of the highest tax rates in the country, especially when it comes to the wealthiest taxpayers. So it wasn’t much of a surprise when back in 2012 residents voted in favor of Prop. 30, which installed a temporary income tax hike on the wealthy. Now fast-forward to 2016 and that proposition is set to expire.
However, those affected by the tax may not being seeing tax any relief anytime soon. That’s because this year’s ballot includes a new proposition that aims to keep those increases in place. Proposition 55, which would extend the temporary income taxes for all those who make more than $250,000 annually, reportedly has the backing of a majority of the state’s voters.
According to a recent survey amongst more than 3,000 registered California voters, 65.3 percent of the participants said they are in favor of extending the tax hikes. Seventy-eight percent of democrats supports the proposition, while only 46 percent of republicans support it.
The study also found that in general most voters felt that their current level of taxation was too high, with republicans outnumbering democrats in that category 73 percent to 50 percent. Time will tell how this turns out, but if these numbers are an accurate indication then it looks like come November California’s wealthiest residents won’t have much to celebrate when it comes to taxes.
http://news.berkeley.edu/2016/08/16/new-poll-californians-back-extending-taxes-on-wealthy-upping-cigarette-tax/
Noosheen Hashemi- Against All Odds
About Noosheen Hashemi Noosheen Hashemi is a business plan builder, angel investor, and advisor with a focus on disruptive ideas and platforms, Noosheen has more than three decades of experience building the leadership and execution capabilities of early stage companies to deliver growth and profitability on a global scale. As a private investor in…
Think Big, Act Bigger | Jeffrey Hayzlett
About Jeffrey Hayzlett Jeffrey Hayzlett is a global business celebrity and former Fortune 100 c-suite executive. From small business to international corporations, he puts his creativity and extraordinary entrepreneurial skills into play, launching ventures blending his leadership perspectives, insights into professional development, mass marketing prowess and affinity for social media. Jeffrey is a leading business…
Replacing The Rainmaker | Ian Tonks
About Ian Tonks Ian Tonks is a business development consultant and author of the book “Replacing the Rainmaker.” He provides coaching and consulting services to accounting firms, helping them implement practices to ensure their long-term business development success. Interview Transcript: Alan Welcome back. I’m here today with Ian Tonks. He’s author of the book…