Californians willing to tax wealthy

Taxes Friday, February 24th, 2012

By: Marisa Lagos, SFGate.com

After years of austere state budgets and frustration among Democratic lawmakers who have tried unsuccessfully to increase taxes, a new poll shows the majority of voters are ready to raise the wealthiest Californians’ income taxes.

A Field Poll released today contains mostly good news for the various groups that want voters to approve tax increases this fall. The strongest support is for the so-called millionaires tax, which would increase state income taxes for people who make more than $1 million a year.

Gov. Jerry Brown’s tax plan also had majority support, according to the independent survey, with 58 percent of likely voters inclined to vote for the measure.

The governor’s plan would increase the state sales tax by half a cent and raise income taxes for the state’s highest earners for five years. The measure would raise about $35 billion before the taxes expire.

If the governor’s proposed tax isn’t passed, it would trigger automatic cuts to higher education and K-12 schools under Brown’s proposed 2012-13 budget.

Each of the tax measures aimed at the November ballot needs only a majority vote to pass.

To read more, visit:  http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/02/24/MNHI1NBHLN.DTL&tsp=1

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