Will the Rich Stick Around to Be Soaked?by Wendy McElroy
Sep. 23, 2013
Progress: "Artist" Who Breastfed Dog, Fertilized Her Own Egg With Dog Cell Wins Prestigious Prize
Father Of Soldier Slain In Niger Says Pres. Trump Was 'Real Cordial' In Condolence Call
U. Of Penn Teaching Aide: I "Always" Calls On Black Female Students First, White Men Last
'It Was Clearly Managed': Tucker Questions Ellen-Campos Interview, Talks Las Vegas Conspiracies
Transgender Man Accused Of Raping 10-Yr-Old Girl In Bathroom
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.