ppt on California Taxes and the Millionaire's Tax

1. The Millionaires Tax to
Restore Funding to Education
and Essential Services

2. Millionaires Tax Presentation January 12, 2012
THE PROBLEM
California has an ongoing budget crisis.
Causes: inadequate revenues, Prop 13’s 2/3 rule, Great
Recession
Results: Education spending 46th in nation, social
services slashed, state general fund spending reduced by
15% over three years

3. Millionaires Tax Presentation January 12, 2012
Growing economic inequality
Richest 1%’s share of state income
doubled, tax rates lowered, over past fifteen
years.

4. Millionaires Tax Presentation January 12, 2012
Growing economic inequality, 30 years
Richest 1%’s share of state income nearly
quadrupled, tax rates lowered, over past 30
years.

5. Millionaires Tax Presentation January 12, 2012
A transformed economy
 Richest 1% of population
owns more than a third of the
country’s wealth
 Richest 1% averages 1.8
million dollars per year in
income
 Richest 1% in CA receives
$9-14 billion/year due to 2010
federal tax cut extension

6. Millionaires Tax Presentation January 12, 2012
The Millionaires Tax would:
 Ask people who earn in excess of
$1 million/year to pay their fair share:
3% after first million, 5% after second million
 Raise $6.1 billion (60% to education,
25% to social services, 10% to public
safety, 5% to roads and bridges)

7. Millionaires Tax Presentation January 12, 2012
How much extra would this cost taxpayers?
 People who make < than $1 million/year:
ZERO
 People who make $2 million:
an additional $30,000
 People who make $3 million:
an additional $50,000 ($30K + $20K)

8. Millionaires Tax Presentation January 12, 2012
Research Findings

9. Millionaires Tax Presentation January 12, 2012
Research Methodology
Tulchin Research conducted an extensive amount of public opinion research to assess the viability
of the Millionaires’ Tax proposal to restore funding to education and other essential services. Here is
the methodology of the research we have cited in this presentation. All data in the presentation is
from the most recent survey, unless noted otherwise.
• From October 28 – November 3, 2011, Tulchin Research conducted a statewide telephone
survey among 2,400 likely November 2012 voters in California, using live interviewers and
calling both landlines and cell phones. The margin of error is +/- 2.0 percentage points.
• From October 6 – October 13, 2011, Tulchin Research conducted a statewide telephone
survey among 1,200 likely November 2012 voters in California, using live interviewers and
calling both landlines and cell phones. The margin of error is +/- 2.8 percentage points.
• From March 13 – March 16, 2011, Tulchin Research conducted a statewide telephone
survey among 800 likely November 2012 voters in California, using live interviewers and
calling both landlines and cell phones. The margin of error is +/- 3.5 percentage points.
• Focus Groups: Tulchin Research conducted sixteen (16) focus groups among swing voters
and base voters throughout the state, including in Concord, Los Angeles, Long Beach,
Riverside, Roseville, and San Diego. Focus groups are a form of qualitative research and
the results are impressionistic and not scientific or quantitative in nature.

10. Millionaires Tax Presentation December 16, 2011
Voters Increasingly Believe the Rich Have Gotten Richer…
Here are some pairs of statements. Please tell me which statement you agree with more:
March 2011 October 2011
The rich have gotten
richer over the past
several years while
middle class families
have struggled
+45 +57
The wealthy have not
done any better than
middle class families
in recent years
Net Shift from March to November: +12

11. Millionaires Tax Presentation December 16, 2011
…And That The Rich Do Not Pay Their Fair Share in Taxes.
Here are some pairs of statements. Please tell me which statement you agree with more:
March 2011 October 2011
The wealthy
do NOT pay
their fair share
in taxes
+30 +37
The wealthy
pay their fair
share in taxes
Net Shift from March to October: +7

12. Millionaires Tax Presentation December 16, 2011
Voters Strongly Support the Millionaires Tax
If the election were held today, would you vote yes in favor of this measure or no to oppose it?
Total Yes
67%
Yes-No
Total No +43
24%

13. Millionaires Tax Presentation December 16, 2011
Support Remains Strong Following an Engaged Campaign
If the election were held today, would you vote yes in favor of this measure or no to oppose it?
Total Yes
62%
Yes-No
Total No +29
33%

14. Millionaires Tax Presentation January 12, 2012
Restoring California Coalition
Alliance of Californians for Community Mobilize the Immigrant Vote
Empowerment (ACCE) Oakland Rising
Asian Pacific Environmental Network PICO California
California Partnership Poder Popular
Causa Justa/Just Cause Richmond Progressive Alliance
CAUSE Strategic Concepts in Organizing and Policy
Communities for a New California Education
Community Coalition for Substance Abuse The Ella Baker Center for Human Rights
Prevention and Treatment UAW Local 2865
Congregations Organized for Prophetic University of California Student Association
Engagement Warehouse Workers United
Dolores Huerta Foundation Working Partnerships USA
Equality Alliance
Inner City Struggle
Knott’s Family and Parenting Institute

15. The Millionaires Tax to
Restore Funding to Education
and Essential Services