Most people won’t and don’t care that the wealthiest Californians paid nearly half of the state’s income taxes in 2014, because there is a perception, since they make most of the money, they should pay most of the taxes. Yet, this simple view of taxes places our economy and communities in jeopardy.
Reasons Why You Should Care:
California’s budget is highly dependent on income taxes. When the financial market dips, so does our state budget, which pays for welfare, health care, education, police, fire, transportation and many social programs.
When only a select few pay taxes, people get complacent, they don’t care who gets elected and those who get elected get to decide how to spend more than $100 billion in taxes collected each year.
We all share the roads, air and everyone goes through good and bad times. The safety net we build is there for all of us, in case we fall.
We should all have at least some “skin in the game.” It shouldn’t just be the top 1% or the top 50%, but all of us, whether it’s a few dollars for those at the bottom or thousands for those at the top. Our economy depends on it.