That BS your boomer coworkers told you about how you can earn more money but take home less due to higher tax brackets are actually true if you're the State of California.
Hard to overstate how catastrophic the California State Constitution is. for example, if requires:
- a balanced budget
- the state to spend $1.60 for every $1 it collects in taxes, under certain circumstances.
The Legislature cannot change the Constitution - voters did this
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I think there used to be some cases where it was true, before the Clinton-era EITC expansion, possibly only when counted in combination with other anti-poverty programs.
May 6, 2022 · 10:08 PM UTC