Wednesday, December 5, 2012
DARK TIMES: Capitol Alert: High-income Californians may pay nation's highest tax rate
Capitol Alert: High-income Californians may pay nation's highest 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. Without a fiscal cliff deal to the contrary, the Bush era tax cuts on high-income taxpayers would expire next year and rates would return to their previous levels.
at 11:34 PM