Will the Rich Stick Around to Be Soaked?by Wendy McElroy
Sep. 23, 2013
FACT CHECK: Hillary Said 90% of Clinton Foundation Donations go to Charity. Actual Number? 5.7%
Jorge Ramos: "The Future of this Country Will be Composed Solely by Minorities," It's "Beautiful"
John Podesta Wasn't 'Hacked,' He Fell For An Email Phishing Scam
Dem Rep. Sheila Jackson Lee Denounces 'Wikipedia' for Publishing Leaked Emails!
Illegal Immigrant Child Molester Flees Guatemala for U.S., Goes on Molestation Spree
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.