(Source: CalChamber) – Once again, pending legislation seeks to impose a massive tax increase upon all forms of personal property or wealth despite California having the highest income tax rate in the country.
The California Chamber of Commerce has tagged AB 259 (Lee; D-San Jose) and ACA 3 (Lee; D-San Jose) as job killers that will encourage the highest net worth earners in California to leave for states with less punitive tax systems and discourage other entrepreneurs from investing in California innovation, jobs and economy.
