A California lawmaker wants to tax millionaires to provide a free education for residents at the state’s public colleges and universities – the second proposal put forth in as many weeks to address the soaring cost of a higher education.
Assembly Bill 1356, by Assemblywoman Susan Talamantes Eggman, would add a 1 percent tax on annual California household incomes of $1 million or more, to be placed in a financial aid fund.
The tax would generate an estimated $2.2 billion* annually, according to the Stockton Democrat, which could be combined with existing aid programs to cover the cost of tuition and fees for in-state students at the University of California, California State University and California community colleges...
*Note: The current state allocation to UC alone is $3.3 billion. It's roughly matched by tuition (at all levels, grad and undergrad). But then there is CSU and the community colleges. Hard to see how $2.2 billion covers all of that. A puzzle. Also a puzzle is that the bill cited in the article seems to have to do with protecting immigrants, not taxes and tuition.