Yes on Proposition 30
Proposition 30 Fact Sheet
What is it?
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INCOME TAX · For taxable income above $250,000 for single filers and above $500,000 for joint filers, the rate for the portion above those thresholds would increase by 1 percent, from 9.3 percent to 10.3 percent. (No change from governor’s previous measure.) · For taxable income above $300,000 for single filers and above $600,000 for joint filers, the rate for the portion above those thresholds would increase by 2 percent, from 9.3 percent to 11.3 percent. (.5% increase over governor’s previous measure) · For taxable income above $500,000 for single filers and above $1 million for joint filers, the rate for the portion above those thresholds would increase by 3 percent, from 9.3 percent to 12.3 percent. (1% increase over governor’s previous measure.) SALES TAX REVENUES Expected revenues: First year (includes 18 months of income tax revenue): $7 - 9 billion Ongoing: $5 - 7 billion per year |
Prop 30 Talking Points
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· Over $18 billion has been cut from public education over the last several years · Without Prop 30 our schools and colleges face another $5.4 billion in cuts this year · Prop 30 would raise up to $9 billion this year and ongoing revenue of $5-7 billion a year · Prop 30 keeps cops on the streets and firefighters employed · Prop 30 balances the state’s budget and pay down the state’s debt · The tax measure is temporary · Mandatory independent audits will assure the money is spent on schools and public safety |
Is it fair?
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· The top 1% has taken over 50% of the income growth over the past decade but is paying the lowest rate of state taxes than all the rest of us! · This tax will allow the top 1% to be taxed at a rate similar to the rest of us. · See attached flier |
Polling Numbers
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One recent poll (PACE/USC) indicates that the tax measure has a 55%-36% advantage. However, revenue measures generally lose support as the election nears. We have lots of work to do on this proposition. |
