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Live and Learn

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6. Married and making $500,000 per year.

Fri Nov 9, 2012, 04:30 PM

Nov 2012

The San Francisco Chronicle: "The governor and the ruling Democrats in the Legislature have given Californians who care about schools and the current-year deficit only one real choice: support Prop. 30, which would raise taxes on incomes starting at $250,000 for individuals, $500,000 for married couples, and the state portion of the sales tax (now 7.25 percent) by a quarter cent ... Prop. 30 provides a necessary budget patch - especially with the Legislature's Republicans unwilling to consider any tax increases."

http://ballotpedia.org/wiki/index.php/California_Proposition_30,_Sales_and_Income_Tax_Increase_%282012%29

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16 replies

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The tax increase is on "Income over 250K" not "People making 250K" [View all] cthulu2016 Nov 2012 OP

Thank you sharp_stick Nov 2012 #1

How does this stuff work with married couples? slutticus Nov 2012 #2

Married and making $500,000 per year. Live and Learn Nov 2012 #6

A question about the real estate 3.8% sales tax myth hunhare Nov 2012 #3

My understanding is ... 1StrongBlackMan Nov 2012 #7

Yes, in that case she would be subject to the tax. subterranean Nov 2012 #10

Another tax consideration subterranean Nov 2012 #16

People really have a problem understanding this for some reason. Live and Learn Nov 2012 #4

Wish I could recommend this more than once wryter2000 Nov 2012 #5

And, moreso ... 1StrongBlackMan Nov 2012 #8

good point liberal_at_heart Nov 2012 #9

What I thought when I read your title drmeow Nov 2012 #11

A 5 million a yr resturaunt typically makes $250k net profit. L0oniX Nov 2012 #12

. mzmolly Nov 2012 #13

It's on taxable income, not AGI n/t SickOfTheOnePct Nov 2012 #14

Oops. Thanks for mzmolly Nov 2012 #15