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As Trump Tax Cuts Emerge, High 13.3% California Tax Spells Exodus

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WEB Notes: Class warefare.

The promise of Trump tax cuts excites many, and is already triggering some ‘pay me in 2017′ requests. Yet voters just passed higher California taxes, at least until 2030. California’s Proposition 55 extended the “temporary” 13.3% tax rate on California’s high-income earners, the highest marginal tax rate in the nation.

Well, it’s only temporary, through 2030. These personal income tax increases on incomes over $250,000 started in 2012. It hits 1.5% of Californians, those with a single income filing of at le

Source: As Trump Tax Cuts Emerge, High 13.3% California Tax Spells Exodus

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