FOXNews.com: California voters OK increase to wealthy income taxes- Puetro Ricans opt for statehood

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California voters OK increase to wealthy income taxes- Puetro Ricans opt for statehood Nov 7th 2012, 18:32 Published November 07, 2012 Associated Press LOS ANGELES –  California voters have approved Gov. Jerry Brown's plan to raise income taxes on the wealthy and raise the statewide sales tax to fund K-12 schools and help balance the state budget. The Proposition 30 vote was close and its passage was not clear until early Wednesday. Its passage increases the statewide sales tax by a quarter cent for four years, starting in January, while people who make more than $250,000 a year will pay higher taxes for seven years retroactive to the beginning of 2012. If voters had rejected it, the Democratic governor had pledged to enact $6 billion in cuts to schools and colleges. Conservative opponents spent as much as $53 million to defeat the measure, while unions and Democratic activists poured nearly $70 million into the yes campaign.

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