REPORT: Democrats won big in California Tuesday night in both state legislative chambers while also seeing tax-increasing initiatives passed on the state's ballot. Voters in California passed Proposition 30, a tax increase designed to prevent $6 billion in budget cuts to education. Proposition 39 also passed and will raise taxes on multi-state businesses. Finally, big wins in both state legislative chambers means Democrats will have a free hand in additional taxes and spending.
Governor Jerry Brown and teacherss unions had campaigned hard for Prop 30, claiming failing to pass it would result in drastic cuts to the state's education budget. The proposition won late in the evening with 53.6% of the vote. Support came primarily from the Bay Area and Los Angeles, while rural and inland voters opposed it. Prop 30 is a combination of two major tax-raising initiatives. The first part raises the sales tax in California "by one-quarter cent for every dollar of goods purchased." The other portion was originally called the "Millionaires Tax"; it sets up a series of progressives tax increases starting with those earning $250,000 but less than $300,000. Their taxes will go up 1% to a total of 10.3% of their personal income.
READ REPORT HERE:
http://www.breitbart.com/Big-Government/2012/11/07/California-Passes-New-Taxes-as-Dems-win-Supermajority-in-Legislature?utm_source=twitterfeed&utm_medium=twitter
-Andres
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