50% of California’s Income Tax Revenue Comes From 1% of Residents

california republic

CPR: It’s politically popular to rail on the One Percent and demand top earners pay their “fair share.” But they actually already pay a large share, fair or not, which analysts predict could be disastrous to California in the event of an economic downturn.

Actually, nearly half of the state’s personal income tax revenue comes from the top 1 percent of earners — 150,000 individual tax returns. And personal income tax revenue is 65 percent of total revenue, which means the One Percent provides 33 percent of the state’s total revenue.

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19 Comments on 50% of California’s Income Tax Revenue Comes From 1% of Residents

  1. BFH. You have a rogue Visual Design ad that steals the whole home page except the IOTWR banner on my iPhone

  2. After the Loma Prieta earthquake in 1989 the Bay Area counties TEMPORARILY raised their sales tax from 6% to 9% to help pay for the damage. To this day it’s still 9%.

  3. My inlaws are constantly trying to get me out to southern California. Only good thing they can say about it is the weather. I say, what good weather? There’s no snow! or rain! Trade my lush green lawn for a pile of rocks and sand? No thanks!

  4. Hahahahahaahahaha our moving van arrives second week of June. We would have liked to move a little later in the summer to give our son more time with his friends before we move on, but there is such an exodus from California that we had to take the ONLY moving van date available. Goodbye, California! Hello again, beautiful flyover country!

  5. There was one year, probably around 2009, when a single resident took a lot of capital gains and contributed about a billion dollars to a very low CA bank account. Probably one of the Google guys. That’s the impact one person can have, particularly in CA, and a lot of millionaires are leaving.

  6. So let me see if I have this straight. . .
    The top 1% of income earners pay 50% of Kalifornication’s income tax revenue. . . .

    And if I remember correctly, the bottom 50% of “income earners” (welfare, illegals, school dropouts, druggies, under-the-table, etc) pay 0% of Kalifornication’s income tax revenue. . . . .

    I’m sensing a disparity here.

  7. Implementing entirely new site tomorrow or Saturday. Been working like a dog on it.
    New layout, different kind of ad placements.
    Hopefully we will root out predatory ad suppliers.

    It is a friggin’ nightmare.
    I spend way too much time battling that than I care to be doing.

    I’m disappointed that no one noticed that we’re down to a header and a footer on the desktop. I’m making less than a paperboy right now.

  8. Hey I’ve got an idea. QUIT providing services, benefits, welfare and education to illegal aliens!!! You’d get them to leave the state and save even more cashola! A twofer if I ever saw one.

    Of course Nevada, Texas, New Mexico and Colorado ain’t gonna be thrilled. I guess they could try the same thing, get ’em heading east, all the way to DC.

    Hey Fur, I hope the new design allows for us to reply to individual comments. I sent you a little gift too.

  9. I am sure the pasty white leftist filthy rich cruds are more than happy to pay their tax assessment. I am also sure they probably throw in a few million extra!

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