From the link
[quote]
Raises California’s sales tax to 7.5% from 7.25%, a 3.45% percentage increase over current law. (Under the Brown Tax Hike, the sales tax would have increased to 7.75%)
Creates three new high-income tax brackets for taxpayers with taxable incomes exceeding $250,000, $300,000, and $500,000. This increased tax will be in effect for 7 years.
Imposes a 10.3% tax rate on taxable income over $250,000 but less than $300,000–a percentage increase of 9.71% over current policy. The 10.3% income tax rate is currently only paid by taxpayers with over $1,000,000 in taxable income.
Imposes an 11.3% tax rate on taxable income over $350,000 but less than $500,000–a percentage increase of 17.7% over current policy.
Imposes a 12.3% tax rate on taxable income over $500,000–a percentage increase of 24.39% over current policy.
