Wealthy Californians May Pay a 51% Marginal Tax Rate!

Thanks to passage of Proposition 30 last month, high-income Californians would pay the nation's highest marginal income tax rates -- nearly 52 percent -- if President Barack Obama and Congress fail to make a deal to avoid the so-called "fiscal cliff," according to a new study.

The Sacramento Bee

Sweet Jesus! Talk about "fair share". I wonder if stock in moving companies is going to go up?

jay leno may renounce his citizenship if this passes after he sold his car collection for $1 billion to an arab sheikh.

can you imagine giving $510,000,000 to the government in taxes. that's insane. then have republicans and democrats talking about fiscal cliffs and mitt romney calling half of america freeloaders and the poor collecting food stamps entitled.

the whole world is ****ed up.

reply to post by randomname


Damn straight. I am at a loss to imagine being left less than half of what I make.

So wealthy people will be paying over HALF their income in taxes, am I right?
If so, how is this fair?

75% income tax for the wealthy in France. Its the way of the future.

If the wealthy dont want to help, they can always move.

Its patriotic to pay high taxes. Its patrotic to give back to your country.

reply to post by HomerinNC


because its the government and they do what they want.

reply to post by spangledbanner


Are YOU Willing to pay those high tax rates on your income???
Everyone, EVERYONE should have to pay the SAME PERCENTAGE, PERIOD.

reply to post by spangledbanner


I can't tell if you're joking. Talking about it being patriotic to pay high taxes from a state with no income tax seems a little ironic.

Originally posted by HomerinNC
reply to post by spangledbanner

 

Are YOU Willing to pay those high tax rates on your income???
Everyone, EVERYONE should have to pay the SAME PERCENTAGE, PERIOD.

The wealthy must pay more because they put more of a strain on socety.

We really need to raise the corporate tax levels around the world too. Significantly.

reply to post by spangledbanner


How are they more a strain?
You didn't answer my question

Fair tax.

No income taxes, no state taxes. All revenue tax is on purchases.

Rid out all the "black market" trades and all the "under the table" trades of money.

The only reason this isn't in place is because the people that are making all the money would have to sacrifice.

I wonder if the wealthy politicians have to pay this or are exempt ...
Most likely exempt

reply to post by spangledbanner


I think Texas is going to have a new industry. The movie industry!

Where are they all going to move? Houston? Waco? Maybe they'll build their own bright shiny city.

Good news for Texas.

reply to post by Happy1


That one is easy: Austin.

It's like a land locked Santa Cruz.

Originally posted by HomerinNC
reply to post by spangledbanner

 

How are they more a strain?
You didn't answer my question

They are a strain because they consume too much. Can you imagine how many Chinese people it takes to cater to the lifestyle of 50 Cent for example? Or anyone from MTV Cribs? Thousands of Chinese.

The worker has no capital. It all goes back into the system. They are no strain. The wealthy are the strain.

People earing 200k dont require thousands of Chinese, only hundreds.

There needs to be more upper brackets for those that require thousands of Chinese to srvice their lifestyles. They should pay way more than 51%

reply to post by spangledbanner

that is a fascinating way to look at it, the wealthy really are a much larger drain,
not only that but they tend to pollute enough for hundreds of us regular folks
by comparison, where is the equal share of responsibility? hmmmm i had
never really thought of it in this way, maybe they should actually pay higher
taxes since they want all this special treatment, heck they don't serve the
same prison sentences or have to follow as many laws......

reply to post by bloodreviara


Most of the Hollywood elite and the music industry want to pay higher taxes - they keep pushing democrats for office.

This is actually a good thing - maybe they'll get what they want.

reply to post by spangledbanner


First, I support no income tax, but rather consumption tax. This would hit corporations harder, and wealthy harder, and allow you to budget down your own tax rate. Obviously, consumption tax is anathema to capitalism and the fiat debt system (which requires constant growth, and thus wants to increase consumption, not decrease it).

Regardless, as it relates to your statement.....

....the wealthy tend to exert more control over society. The leverage that a billion dollars can give you politically....unreal. Hard to imagine. While I do not support having variable tax rates, I find it hard to have sympathy for a social class that uses economic pressures for their own personal gain, not to help right the ship. When you take your monetary power to a governmental agency to get money from them for your projects instead of promoting the health of the nation, why should I care if you are now being charged higher and higher tax rates?

If a person make 10 million bucks off a project that they recieved government grants to fund......it would stand to reason that there might also be a reasonable expectation that they will be good stewards of the peoples trust. Otherwise, the only difference between a wealthy businessman and a welfare recipient is the amount of money they are getting from the government.

Originally posted by spangledbanner

Originally posted by HomerinNC
reply to post by spangledbanner

 

How are they more a strain?
You didn't answer my question

They are a strain because they consume too much. Can you imagine how many Chinese people it takes to cater to the lifestyle of 50 Cent for example? Or anyone from MTV Cribs? Thousands of Chinese.

The worker has no capital. It all goes back into the system. They are no strain. The wealthy are the strain.

People earing 200k dont require thousands of Chinese, only hundreds.

There needs to be more upper brackets for those that require thousands of Chinese to srvice their lifestyles. They should pay way more than 51%

If this isnt a troll post then I don't know what is. Stop trying to curb the conversation with your idiocy.

Oh no! how will they pay for the child sex slaves? How will they afford to live in a house where only 10% of the rooms are even used.

The mexican drug cartels are really gonna feel the pinch when lindsay cant afford a white christmas.