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Burton Wants Increased Taxes To The Wealthy To Offset Budget Crisis

Senate Leader John Burton is calling for a temporary increase in personal income taxes on the richest Californians to help offset an expected 12 billion dollar budget shortfall.

The San Francisco Democrat says that by reinstating two top income brackets to the level they were in the mid 1980s, California could raise an additional two to three billion dollars a year.

The tax increase would halt once the state built a reserve of three percent.