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News Link • TAXES: Federal

High-income Californians may pay nation's highest tax rate

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Thanks to passage of Proposition 30 last month, high-income Californians would pay the nation's highest marginal income tax rates -- nearly 52 percent -- if President Barack Obama and Congress fail to make a deal to avoid the so-called "fiscal cliff," according to a new study.

Without a fiscal cliff deal to the contrary, the Bush era tax cuts on high-income taxpayers would expire next year and rates would return to their previous levels.


Read more here: http://blogs.sacbee.com/capitolalertlatest/2012/12/high-income-californians-may-pay-nations-highest-tax-rate.html#storylink=cpy
 

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