The Number of High-Income Taxpayers Increased Significantly During a Period With 10 Percent and 11 Percent Tax Rates on High-Income Earners

Date Published: 
Fri, 08/01/2008

The California Budget Project. August 2008.

The Number of High-Income Taxpayers Increased Significantly During a Period With 10 Percent and 11 Percent Tax Rates on High-Income Earners”  shows that the number of income tax filers over $200,000 skyrocketed by 33.4 percent during the period 1991-1995. During those years California issued a temporary 10 and 11 percent tax rates on high-income residents. Then between 2004 and 2006, when the state levied (and voters approved) an additional 1 percent surcharge on taxable personal income above $1 million, the number of millionaire taxpayers in California shot up by 37.8 percent.