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Fixing California's budget: tax the rich?




A view of the California State Capitol in Sacramento, California
A view of the California State Capitol in Sacramento, California
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In an effort to avoid further cuts to education and social services programs, Democratic Assemblyman Warren Furutani is proposing a temporary tax increase for Californians making over $250,000 per year. The tax hike, which would end after five years, would range from 0.5 percent to 1.5 percent, creating a new top tax rate of 11 percent. Will taxing these higher-earners solve California's budget problems?

Guest:


Bob Stern, President of The Center for Governmental Studies

Warren Furutani, California State Assemblyman, 55th District