{"id":2241,"date":"2020-01-17T10:30:37","date_gmt":"2020-01-17T17:30:37","guid":{"rendered":"https:\/\/sandiegonewsdesk.com\/?p=2241"},"modified":"2020-01-22T15:42:01","modified_gmt":"2020-01-22T22:42:01","slug":"the-real-california-state-income-tax-has-more-than-doubled-for-the-wealthy-since-2012","status":"publish","type":"post","link":"https:\/\/sandiegonewsdesk.com\/?p=2241","title":{"rendered":"The Real California State Income Tax has more than Doubled for the Wealthy since 2012"},"content":{"rendered":"<p><em>Written by Richard Rider, Chairman of San Diego Tax Fighters<\/em><\/p>\n<p>Californians don&#8217;t realize that since 2012, our state&#8217;s net highest state income tax rate has more than doubled. Way more, in fact.<\/p>\n<p>First, in 2012 the top three state income tax rates went from 10.9% to as high as 13.3%. Retroactively, I might add. This &#8220;gouge the wealthy&#8221; tax was passed by California voters in November 2012 and was retroactive to the first of the year. I don&#8217;t know why that was legal, but it withstood a court challenge.<\/p>\n<p>Then with the state and local tax (SALT) 2017 tax reform clause, top earners cannot write off their state income taxes on their federal returns. This is a big deal for the wealthy.<\/p>\n<p>The combination of this double-barreled tax blast raised the net marginal income tax rate for top California earners from about 5.6% to 13.3%. That&#8217;s a 138% increase in the California net income tax.<\/p>\n<p>If liberals don&#8217;t get SALT repealed after the next election (a difficult position for the &#8220;soak the rich&#8221; Democrats to run for office on), I expect that there will be another surge of rich people and their companies fleeing the Golden State.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Written by Richard Rider, Chairman of San Diego Tax Fighters Californians don&#8217;t realize that since 2012, our state&#8217;s net highest state income tax rate has more than doubled. Way more, in fact. First, in 2012 the top three state income tax rates went from 10.9% to as high as 13.3%. Retroactively, I might add. This&#8230;<\/p>\n","protected":false},"author":3,"featured_media":2234,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Real California State Income Tax has more than Doubled for the Wealthy since 2012 - San Diego News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sandiegonewsdesk.com\/?p=2241\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Real California State Income Tax has more than Doubled for the Wealthy since 2012 - San Diego News Desk\" \/>\n<meta property=\"og:description\" content=\"Written by Richard Rider, Chairman of San Diego Tax Fighters Californians don&#8217;t realize that since 2012, our state&#8217;s net highest state income tax rate has more than doubled. Way more, in fact. First, in 2012 the top three state income tax rates went from 10.9% to as high as 13.3%. Retroactively, I might add. 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