Taxing California Monday, October 26, 2015 Marian Miner Cook Athenaeum, Claremont McKenna College Lunch at 11:30 a.m. Presentation starts at 12:00 pm Register on the MMC Athenaeum website. Currently, there are numerous proposals in California to change the way people are taxed—from measures to extend the temporary taxes adopted in 2012 to major changes in the… Continue Reading
On December 5th, Governor Jerry Brown filed an initiative with the California Attorney General’s office which, if passed, would impose a variety of new taxes with the aim of raising nearly $7 billion in revenue. This money would be dedicated funding for education and public safety programs, which have seen enormous cuts as a result of the recent and ongoing budget crisis. If approved by the voters, the initiative would institute two new taxes. First, individuals making $250,000 or more would pay up to 2% higher income taxes for five years, and second, the state sales tax would be temporarily increased by 0.5%, up to 7.75%, through 2017.
