Come November, Californians will will have a chance to vote on three different tax proposals.
Governor Brown's proposal would raise state sales tax and raise income taxes for those making more than $250,000. Funds raised would be used to backfill the state's general funds and to guaratnte funding for local governments and public safety.
A competing initiative, backed by L.A. attorney Molly Munger, would instead raise income taxes accross the board for nearly every California taxpayer as well as increase the Millionaires tax to the highest in the nation--13.3%. These funds are to be used to go directly to publich schools.
The third proposal would change corporate tax calculations for multi-state corporations--basing the liability on their share of sales in California.
