Governor predicts tax will set example
November 13, 2012
More states will follow California’s lead in raising taxes for the wealthy, Gov. Jerry Brown said Tuesday on CNN’s “State of the Union” with Candy Crowley. (Sacramento Bee)
Voters approved Brown’s Prop. 30 by a wide margin last week. It hikes tariffs for upper-income earners, and levies an additional quarter-cent sales tax.
“Revenue means taxes, and certainly those who have been blessed the most, who have disproportionately extracted, by whatever skill, more and more from the national wealth, they’re going to have to share more of that,” Brown said in a taped interview. “And everyone is going to have to realize that building roads is important, investing in schools is important, paying for the national defense is important, biomedical research is important, the space program is an indicator of the world leader – all that takes money.”
The governor said he doesn’t believe further tax increases will be necessary in the Golden State, and hopes the state legislature will “exercise restraint” so the state budget can be balanced.