Is it time to raise taxes on the rich? California Democrats call for new millionaire's tax
SACRAMENTO, Calif. — California’s wealthiest households pay the highest income tax rate in the country. It could go up a few more percentage points if Democrats follow through next year on a new proposal that would levy on a new millionaire’s tax for seven-figure earners.The concept has support from some of the state’s biggest public employee unions and Democrats in the Legislature. They argue the money is needed to support schools and government agencies that are charged with providing services to unemployed and struggling Californians.“We’re actually talking about folks who are doing extreme...
The Sacramento Bee