Proposition 38 is a competing proposition with Proposition 30. If Prop. 38 receives more votes, personal income taxes would be raised in our state for Californians earning more than $7,316 per year. The tax increase would be on a sliding scale. The lowest earners would pay an additional 0.4% in income tax. The highest earners would be taxed 2.2% more. Money raised from the taxes would fund K-12 schools, among other things.
Below are links to the supporters and opponents of Prop. 38 to learn more.
Yes on Proposition 38: www.prop38forlocalschools.org
No on Proposition 38: www.stopthemiddleclasstaxhike.com
1 Comment to “Proposition 38 Explained”
October 12, 2012 at 5:32 PM
No on Prop 38 – it's a big new tax. How big? Check the math: a married couple earning $70K will pay $719 more in tax the first year, and the bill will go up by the CPI every year. A couple earning $90K will pay over $1000; earn $110K and you'll pay $1400 more. That's a lot of child care, or car payments, or food! The purpose is noble and fantastic, but crushing the Californian economy with even higher state taxes will be a disaster.