- WND - http://www.wnd.com -
High-income Californians may pay nation's highest rate
Posted By -NO AUTHOR- On 12/07/2012 @ 12:41 am In Money | No Comments
(Sacramento Bee) 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.
Article printed from WND: http://www.wnd.com
URL to article: http://www.wnd.com/2012/12/high-income-californians-may-pay-nations-highest-rate/
© Copyright 1997-2013. All Rights Reserved. WND.com.