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.