Annotated Bibliography

Pressburg, Matt. "Prop 30 and prop 38: Dueling Plans To Save California's Schools" USC Annenberg (2012)
The author interprates the effect of the two crucial tax related propositions in this upcoming ballot, in hope of reversing the future cuts to california's school system. Prop 30, "a sales and income tax increase initiative" would raise California's sales tax from 7.25% to 7.50% along with creating mulitpul new taxable income brackets ranging from $250,000, $300,000, and $500,00 affecting these income for 7 years. From the $250,000- $300,000 brackets the proposition will impose a 10.3% tax rate, instead of the old 9.3%. This will provide a substantial amount of money (Approx 6 Billion in the next few years) to the California budget, which will allocate 89% of the temporary tax revenues to K-12 schools and 11% to community colleges. Nevertheless, it will also bar the funds for administrative cost, allowing no one else to access the money except the local school boards.

Prop 38 seems to be more of a radical act of desperation. imposing a sales tax on even the lowest incomes, specifically taxing Incomes as low as $17,346 with proposed revenues resulting in 10 billion dollars a year. Allocating the majority of the money to K-12 schools and early childhood development programs. This will result in a tax rate of .4% on the lowest incomes climbing only as high as 2.2% raise on individuals making 2.5 million in 12 years. This proposition does not seem nearly as strong and logical then Prop 30.  For it will be taxing most Californians who have a low income and only taxing the rich at a 2.2% tax rate.