Kardashian Sisters Need To Pay More Taxes

Kardashian Sisters Need To Pay More Taxes

Proponents are proposing to increase tax on millionaires in California mainly on the Kardashians. An online video from the Courage Campaign targets the star of "Keeping Up with the Kardashians" and "Kourtney and Kim Take New York" as part of its campaign for a proposed November ballot initiative to raise taxes on the wealthiest Californians.

It says Kardashian made $12 million in 2010 but paid 9.3 percent  just 1 percentage point more in California income taxes than someone making $47,000  who 10.3 percent. The video ad urges Kardashian to support the proposal for a tax increase.

Tax revenue to the state has dropped $17 billion since the recession requiring billions of dollars a year in budget cuts. Proponents say the tax would raise about $6 billion to help fund public schools and local services that have been hit hard during the recession, such as social services, programs for the elderly and public safety.

The millionaire’s tax is one of several ballot proposals circulating in California seeking to increase income taxes on the wealthy as a way to help close the state's annual budget deficit. Millionaire’s tax that would raise income tax rates by 3 percent to 5 percent for individuals who make more than $1 million a year. In 2010, about 41,000 Californians reported adjusted gross income above $1 million, paying about $13.1 billion in taxes to the state, according to the Franchise Tax Board.

Posted by Kade Quinn on Friday January 06 2012, 11:17 AM EST. Ref: Yahoo. All trademarks acknowledged. Filed under Entertainment. Comments and Trackbacks closed. Follow responses: RSS 2.0