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By Jon Coupal
The tide may have turned on Proposition 30. A Berkeley IGS poll released last week now has support dropping below 50% after polling at 55% a few weeks ago. While the opposition to the measure is much less, at 37%, the gap has narrowed significantly. Two factors might explain this drop. First, as voters begin to comprehend what it does, they are less likely to support it. Second, voters may be persuaded by the breadth and diversity of the opposition.
Proposition 30 would increase the state income tax by an additional 1.75% on income above $2 million for individuals. Since only a handful of California citizens make that much, the proponents calculated that this would be attractive to progressives as an easy way to stick it to the rich. (It is also consistent with that old adage, “don’t tax you, don’t tax me, tax the fellow behind the tree.”)
Adding to the “class warfare” feature of Prop. 30 are the equally progressive purposes for which the funds would be spent. Revenue from the tax would fund various programs ostensibly for the purpose of addressing climate change.
From the perspective of taxpayers, Proposition 30 is just bad policy. In addition to having the highest state sales tax and gas tax in the nation, no other state even comes close to California’s 13.3% top marginal income tax. Prop. 30 would pump that up to over 15%.
At some point, even those who can scarcely dream about making $2 million annually can figure out that something is wrong with California’s tax structure. Indeed, a PPIC poll in April found that “record-high shares of Californians think that . . . the state and local tax system is not fair.” They may also be aware of the frequent media reports on the number of citizens, including high wealth individuals, moving out of state.
To read the entire column, please click here.
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