Help Limit the Tax Rate in California

The California Simple Tax Committee has launched an initiative petition to limit the outrageous income tax rate in California. The state’s current tax code imposes a tax rate of 9.3 percent on middle class citizens who earn less than $50,000, while loopholes and tax credits have Californians that earn over $100,000 paying an average income tax of less than 2%.

The new initiative limits the tax rate to 2.5 percent for every California family that earns less than $100,000 a year. In addition, it grants each family a generous standard deduction equal to one years earning at the minimum wage ($14,040).

And despite the poor fiscal condition of the state, the initiative will reduce state tax revenue by less than 1%! This is because the real problem with California’s state budget is wasteful spending. Since Gov. Gray Davis took office, spending has escalated out of control, leaving the state with a $38 billion deficit.

While the legislature may not act responsible, Californians can. Get involved with the effort to limit and simplify the state income tax rate by downloading the CA Simple Tax Petition.