BUT IT'S ALL ABOUT FAIRNESS: 144,000 households, 1 percent of taxpayers, pay half of California's income taxes

 
"California deserves everything they get. Keep voting in these Liberal A**holes". MC

Fairness. That's the word I associate with massive, bloated, Democrat-controlled failed states like California.

...One of the more egregious aspects of Brown’s [Proposition 30] is the retroactivity of the income tax increase, which would apply to all income earned after January 1, 2012. [Imposition of] this retroactive tax hike makes it clear to businesses that if they want some semblance of certainty in tax planning, they must leave California. Campbell’s Soup, Comcast, and Samsung have been the latest to come to this realization; either shutting down facilities in-state or moving operations outside of California.

California residents already contend with one of the most progressive tax codes in the country. Not only does California have high marginal rates, those high rates kick in at relatively modest income levels. California’s middle class residents earning $48,000 a year, for example, pay a state tax rate of 9.3%. Millionaires in 47 other states don’t even pay that high of a marginal rate. However, one of the state tax code’s greatest flaws is it’s over-reliance on upper income households and the revenue volatility it creates, and that is a problem that Prop. 30 would further exacerbate.

As of 2010, the state relied upon 144,000 households, 1 percent of taxpayers, for 50 percent of total state income tax... [With Proposition 30's passage,] the top 10 percent of earners would be responsible for over 80% of the projected income generated - a fact that Gov. Brown and other advocates of the bill readily acknowledge.

California is destroying itself -- the U.S. is next.