I have a terrible confession to make. After much soul searching, for the first time in my life, I just voted for a massive tax increase — Prop 30. So did my wife and sons.
It’s a HORRIBLE tax increase — a 1.75% income tax increase on the over-taxed super-wealthy of California — those with $2,000,000 or more in annual income (including, of course, capital gains) to fund elect vehicle (EV) infrastructure. It’s a special interest propfunded 95% by Lyft. Initially I opposed this EV tax increase, and I included that opposition position in my list of recommendations.
Here are my reasons for changing my mind:The overwhelming majority of these wealthy Californians either actively support the woke movement (including higher taxes) or choose to stay quiet. According to the Legislative Office (LAO), the top 1% of CA income taxpayers pay 50% of all the state’s income tax. Too bad for them. Only a handful of the super-rich have had the guts … Read More