Taxing The Richest 1% An Additional 1% Could Mean $2.5 billion For Education, Services
By Josh Pechthalt
California Federation of Teachers
The California Federation of Teachers (CFT) recently released new polling results showing 78% of voters support increasing income taxes on the top 1% of Californians by 1%. Such a tax would return the richest Californians close to the rate they paid in the mid-1990s, when Pete Wilson was Governor. CFT is calling for the progressive tax to be part of a package to resolve California’s budget crisis.