The tax hike proposed in Proposition 30 would be imposed on personal incomes exceeding $2 million a year, raising up to $5 billion annually, according to the Legislative Analyst’s Office.
passes in November, we should hang a sign at the border reading: “Welcome to California, the state with the nation’s most outrageously high income tax.”
Gov. Gavin Newsom’s single-tunnel proposal is more respectful of the estuary’s farms, habitat, boating and communities, columnist George Skelton writes. Of that, 80% would be spent to help California motorists convert to electric vehicles by providing rebates for purchases and installing charging stations. At least half of this would go to low-income households and communities.
“California is the world leader in income inequality,” says Brad Williams, an economic consultant and former fiscal analyst for the executive and legislative branches of state government. “If we don’t do anything, the cost of transformation to zero emission vehicles is going to fall heavily on folks who can least afford it.”
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