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Prop 3
Prop 3
About:
Prop 3 would make the high income tax on high earners in California a permanent change.
The current high earner income tax was established in 2012 and is set to expire in 2031.
A high earner is classified as someone making $360k or higher per year.
This tax starts out at 10.3% and caps out at 12.3% if an individual is making $721k+ per year.
Argument For:
“This tax will continue to affect billionaires and get funding for schools and healthcare.”
Brings in $5-$15 billion in funding for schools alone per year
Argument for against:
“It doesn't stop wasteful government spending, so taxpayers won't face any better conditions”
Only 5% of the money goes to education and 24% to healthcare.
Supporters:
California Teachers Association
California School Employees Association
California State PTA
California Democratic Party
California Medical Association
Opposers:
California Taxpayers Association
Reform California
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