A new bill in Sacramento would tax the wealthy even more, adding a surcharge on taxable income over $1 million.
Jon Coupal, with the Howard Jarvis Taxpayers' Association, told KNX 1070 New California has enough money right now and taxing the wealthy will only drive more people away.
"We already have the highest income tax rate in America at 13.3% and we are seeing significant outflow of capital out of the state of California. And it's not just wealthy individuals, it's businesses and the middle class," he said.
But Los Angeles Democratic Assemblyman Miguel Santiago said there are projected budget deficits in the near future if no further action is taken to boost revenues.
Supporters contend the bill would only impact less than one percent of people in the state and would generate billions of dollars in new revenue each year.
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