By: CNBC.com News
January 14, 2013 at 14:37 PM EST
Tax on Rich Didn't Cause California's Deficit Magic
After California hiked taxes on its top earners, Gov. Jerry Brown announced that the state's famous multi-billion-dollar deficit is pretty much gone. If it sounds too good to be true, it likely is, and experts say the tax on the rich won't ever prove the boon to the economy that Democrats hope.
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