WASHINGTON — California is where the likes of LeBron James and Elon Musk face ultra-high state income tax rates that the government uses to provide money to help the homeless, the poor and the unemployed.
So is California, whose top rates are the nation’s highest, a good model for the rest of the country as President Joe Biden tries to increase tax rates while boosting social services spending?
State Controller Betty Yee says California’s progressive tax system “has been effective at achieving its intended result — reducing the tax burden on those who can least afford to pay.”
