Here’s a depressing but documented comparison of California taxes and economic climate with the rest of the states. The news is breaking bad, and getting worse (twice a month, I update crucial data on this fact sheet):
REVISED: California has the 3rd worst state income tax in the nation. 9.3% tax bracket starts at $46,766 for people filing as individuals. 10.3% tax starts at $1,000,000. Governor Brown is putting on the ballot a prop to change the “millionaires’ tax” to 12.3%, starting at $500,000. If approved, CA will be #1 in income tax rates. BTW, there’s ANOTHER well funded proposition effort to raise the CA millionaires’ tax to 15.3%. http://www.taxfoundation.org/files/bp59_es.pdf
Highest state sales tax rate in the nation. 7.25% (as of 1 July, 2011 – does not include local sales taxes).
http://www.taxfoundation.org/files/bp60.pdf Table #15