Will the Rich Stick Around to Be Soaked?by Wendy McElroy
Sep. 23, 2013
1.New York & California Move to Ban The Sale of Current iPhones Because They Protect Your Data
2.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
3.Jeb Bush Wore High Heels To Look Taller Than Trump [Pic]
4.Trump Calls Out Bush WMD Lies: 'They Knew There Were None, They Lied'
5.Ted Nugent Replies 'Eat Me' to Critics of 'Anti-Semitic' Gun Control Post
6.Feds Push New Plan For Home Visits to Check On Parents
7.VIDEO: Workers Rage After Being Told They're Losing Their Jobs to Mexico
8.WSJ Covers Free State Project: 'Can New Hampshire Become a Libertarian Utopia?'
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.