Proposition 30’s unintended consequences

Instituting higher and more progressive income taxes is often billed as a matter of pragmatic parity. But California’s move to do so – under the guise of boosting education funding – serves as a cautionary tale for other states considering such a change.
In 2012, California voters said yes to Proposition 30, which incrementally and continually raised income taxes on those earning more than $250,000 annually.
New research published by the National Bureau of Economic Research sho