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PIMCO California Municipal Inco Message Board

  • kentw007 kentw007 Dec 12, 2012 11:37 AM Flag

    When they read this, CA munis will soar

    "All this has major implications for the U.S. Consider California, which just enacted higher rates of income and sales tax. The top California income-tax rate will be 13.3%, and the top sales-tax rate in some areas may rise as high as 10%. Combine these state taxes with a top combined federal rate of 44%, plus federal excise taxes, and the combined marginal tax rate for the highest California earners is likely to be around 60%—as high as in France, Germany and Italy."
    Prescott and Ohanian: Taxes Are Much Higher Than You Think

11.31-0.04(-0.35%)Nov 27 1:02 PMEST