Will the Rich Stick Around to Be Soaked?by Wendy McElroy
Sep. 23, 2013
Girls Threatened For Wearing Trump Hat At DC College
Report: Ivanka, Jared Helped Forced Out Bannon - 'His Far-Right Views Clashed With Their Jewish Faith'
Report: Bannon Eyes Starting Fox News Competitor
Baltimore: Robert E. Lee Statue Replaced With Statue of Pregnant Black Woman
Stephen Bannon Returns to Breitbart
On December 8, the website Breitbart heralded, "Despite Tax Increase, California State Revenues in Freefall." In the November state elections, a successful Proposition 30 imposed a 13.3 percent tax rate on income over $1,000,000 -- an increase of 29.13 percent and the highest state tax rate in the nation. The predicted tax revenue was hailed as a way to dig California out of its budget crisis. It was '"needed" especially to fund public-sector pensions with their plush benefits. Instead, state revenue for November 2012 fell by 10.8 percent, or $806.8 million. Wealthy businesses and individuals were leaving; many had left already.