Tax Foundation Archives - Page 2 of 2

California Dems’ Wealth Tax Follows People Who Move Out of the State

August 17, 2020 7:28 amAugust 18, 2020 8:12 am

Assemblyman Rob Bonta (D-Oakland) made an appearance on “Cavuto: Coast to Coast” Friday to discuss his Wealth Tax proposal. Bonta told Cavuto the tax “affects about 0.15% of the California population — not the top 10%, not the top 1%,...

CA Democrats Pushing First-in-the-Nation ‘Wealth Tax’ on State’s Billionaires

August 13, 2020 1:10 pmAugust 13, 2020 2:27 pm

Oakland Assemblyman Rob Bonta held a press conference Thursday announcing his legislation to tax the state’s wealthiest job creators and innovators – the 30,400 billionaires living and working in California. This first-in-the-nation net worth tax is estimated to generate $7.5...

Tax Foundation Compares State-by-State Legislative Responses to COVID-19

March 27, 2020 1:39 pm

Thursday, California Globe reported on Gov. Gavin Newsom’s executive orders issued during the coronavirus crisis including: Newsom ordered Californians to shelter in place, effectively locking down 40 million residents. Newsom announced the deployment of California National Guard members to provide short-term food security to...

With Tax Day Around the Corner, California Still Has Highest In the Nation Individual Income Tax Rates

February 10, 2020 7:38 amFebruary 12, 2020 8:32 am

With Californians preparing their state and federal taxes, it’s a challenge knowing that California’s 13.3% rate is the highest marginal tax rate in the nation. When you add in up to 37% federal taxes, living in California is expensive right...