Comments on: Suh avoids high-tax CA, signs with Miami https://calwatchdog.com/2015/03/09/suh-avoids-high-tax-ca-signs-with-miami/ Tue, 10 Mar 2015 14:42:45 +0000 hourly 1 By: Richard Rider https://calwatchdog.com/2015/03/09/suh-avoids-high-tax-ca-signs-with-miami/#comment-111862 Tue, 10 Mar 2015 14:42:45 +0000 http://calwatchdog.com/?p=74854#comment-111862 The quality of California sports teams will be negatively impacted by our sky-high state income tax. But the two state corporate centers may be able to offset that disadvantages with bonuses to players. That’s teams in LA and SF.

The teams in Sacramento, Oakland, and San Diego are the ones that will really suffer from this tax — especially after the Democrats make Prop 30’s income tax a semi-permanent fixture, as expected by 2016.

There’s some Karma in this — sports fans who voted for Prop 30 will never connect the dots with their moribund teams, but they should.

Hate millionaires? Well, hate the millionaire ATHLETES you lionize.

]]> By: Richard Rider https://calwatchdog.com/2015/03/09/suh-avoids-high-tax-ca-signs-with-miami/#comment-111861 Tue, 10 Mar 2015 14:36:09 +0000 http://calwatchdog.com/?p=74854#comment-111861 I’ve been writing about this problem ever since Prop 30 passed. To summarize the CA income tax from my fact sheet:

Prior to Prop 30 passing in Nov. 2012, CA already had the 3rd worst state income tax rate in the nation. Our 9.3% tax bracket started at $48,942 for people filing as individuals. 10.3% started at $1 million.

Now our “millionaires’ tax” rate is 13.3% – including capital gains (CA total CG rate now the 2nd highest in the world!). 10+% taxes now start at $250K.

CA now has by far the nation’s highest state income tax rate. We are 21% higher than 2nd place Hawaii, 34% higher than Oregon, 48% higher than the next 2 states, and a heck of a lot higher than all the rest – including 7 states with zero state income tax – and 2 more that tax only dividends and interest income.

CA is so bad, we also have the 2nd highest state income tax bracket. AND the 3rd. Plus the 5th and 7th.
http://taxfoundation.org/sites/taxfoundation.org/files/docs/ff2013.pdf Table #12
and
http://tinyurl.com/CA-income-tax-graph

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