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There are a lot of very wealthy people in California who paid a lot more capital gains tax in 2020 than people predicted.
by encoderer 5y ago
There are a lot of very wealthy people in California who paid a lot more capital gains tax in 2020 than people predicted.
- hackeraccount 5y agoFrom what I understand California has a very progressive tax system and as a consequence revenues vary by a lot. If wealthy Californians have a good year the coffers bulge but when they don't ... everything dries up. Not necessarily a problem if the State spent like that but they tend to spend like every year will be a fat year. Go figure.