Richard Rider, Chair, San Diego Tax Fighters Wrote:
Jan 28, 2013 12:18 PM
Here's a little known fact -- the California income tax is quite LOW. For some. If you have a spouse and two minor kids, no deductions and a $50,000 income, you pay $73 state income tax. If you make $40,000, you get credits back-- you pay LESS than zero income tax. Net result? Like the federal income tax, over 40% of Californians pay little or no state income tax. They LOVE the income tax. And that's way they could be so easily gulled into raising taxes on the hated rich. BTW, the tax increase on the rich in CA starts zooming up at $250K, jumps again at $500K and hits the 13.3% peak at $1 million. We DESPISE rich people in the "Golden State." Not going to go well for anyone in my state -- but may very well aid YOUR state.