Prepare to see a mass exodus of individuals and business from California.
Californian's have voted themselves the number one state in the country - for paying taxes. Even while the state sinks further into debt, has record home foreclosures, and continues to have one of the highest unemployment rates in the country, a small majority voted to increase the State Income Tax to 13.3%.
California is already seeing a large number of the states' residents pack off for greener pastures. As the song goes goes: "You ain't seen nothin' yet!"
December 5, 2012
High-income Californians may pay nation's highest tax rate
Thanks to passage of Proposition 30 last month, high-income Californians would pay the nation's highest marginal income tax rates -- nearly 52 percent -- if President Barack Obama and Congress fail to make a deal to avoid the so-called "fiscal cliff," according to a new study.