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Tuesday, September 18, 2012

Some Handy Comparison Slides of Props 30 & 38

The Legislative Analyst's Office has some handy comparisons of the governor's tax initiative (Prop 30) and the rival Munger tax initiative (Prop 38).  "PIT" = personal income tax.  Three slides are below:

Prop 30

Prop 38
($7,316 is not a typo.  Prop 38 starts at a relatively low income hurdle.  A more detailed description that you will be finding in the official ballot pamphlet is: "Increases personal income tax rates on annual earnings over $7,316 using sliding scale from .4% for lowest individual earners to 2.2% for individuals earning over $2.5 million, for twelve years." Prop 30's income tax hurdle is much higher than Prop 38's but since it also has a sales tax increase, it, too, affects virtually everyone.)

More slides with more detail including revenues, trigger, etc., are at:
http://www.lao.ca.gov/handouts/education/2012/Propositions_30_and_38_091212.pdf

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