California Voters Appear to Favor Higher Taxes for the Wealthy

shutterstock_340204571-converted

 

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/

Posted in
John Hoffmire

John Hoffmire

Transcript of John Hoffmire: Alan Olsen: One of the areas that you’ve been involved with is impact investing, what is impact investing?   John Hoffmire: Well, impact investing can be defined as a number of different ways. I’m going to define it in the broadest possible way, where investments of almost all types make an…

Add These Leadership Skills for 2021

As we begin to exit the pandemic, are you looking to grow or enhance your leadership skills this year? If so, it is vital to have a plan as no one can expect to become a better leader just by showing up every day. Here are some important things to focus on in 2021. These leadership…

Workplace Accountability in Four Steps

Have you encountered a co-worker, boss or employee, who slacks off, unloads their work onto others, or takes credit for work and ideas that are not their own?  Accountability in the workplace can often seem a bit too scarce, especially when the competitive drive kicks in. Or perhaps, someone that works hard, but never seems…

What’s Love Got to do with Leadership?

What is the most important attribute of a good leader? While it is difficult to single out one overarching attribute, according to leadership author, Lolly Daskal, “The single most important factor that differentiates a good leader from a great leader is LOVE.” Truly exceptional leaders know how to lead with love. One of the main…