Will the Rich Stick Around to Be Soaked?by Wendy McElroy
Sep. 23, 2013
Finland: Police Tell Kids To Rat On Parents For 'Offensive' Facebook Posts Criticizing Politicians
Pakistani Mom Invites Daughter to 'Wedding Reception,' Burns Her Alive For Picking Own Husband
DC: 'Full-Scale Panic' Setting In On Eve Of Trump Presidency
While U.S. Media Celebrates Feminization of Boys, China Moves to Prevent 'Masculinity Crisis'
Report: Roger Stone 'Poisoned by Polonium-210'
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.