The Occupy Wall Street protests have bolstered the confidence of a California group hoping to put a millionaire tax on the voting ballot for next year.
The California Federation of Teachers and other liberal groups are pushing to add a millionaire’s tax to the ballot, but haven’t stated how much the increase would be. They are hoping to get backing from labor groups and California Governor Jerry Brown.
The funds generated from the tax would not go into general funds and would be used to support schools, colleges and health care, social services and parks. Governor Brown said he wanted to add a tax initiative to the ballot but wants one that won’t provoke a costly battle with businesses and anti-tax groups. This initiative has a number of detractors who feel the wealthy pay more than their fair share.
The issue of taxing the wealthy is becoming a hot issue especially as Americans are becoming more aware of the income disparity between the dwindling middle class and the wealthy. Most people grudgingly pay their taxes every year.
Some people, especially small business owner and the self-employed have trouble paying their taxes every spring and find they need a tax lawyer to help them reduce penalty charges. Some national and state budget downfalls are caused by people who avoid or evade their taxes. These individuals are aggressively pursued by the IRS and must find tax attorneys to negotiate with the government.
The wealthy often oppose the current tax rates and asking for a new tax will likely face great opposition. Wealthy individuals are also the largest group of people, who avoid or evade their taxes through offshore banks, and they must retain tax attorneys to help them in court.
