CA Millionaires Tax Initiative

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by Sean Patrick Lewis

For many people, becoming a millionaire is the dream of a lifetime. But today, a group of Californians say they've dreamt up a way for the state to address its massive deficit by turning to the millionaires who live here---saying its the answer for the dream of a better state economy to come true.

"Come on let's honk, support us!"

No one likes to beg, but that's exactly what almost a dozen groups were doing today in the state.

The group-- Restoring California Coalition-- was perched above the I-110 freeway in downtown Los Angeles, hoping their banner and voices can start a change in California.

"Honk for justice, honk for schools.. Yeah..."

In a state who holds more millionaires than anywhere else in the country, supporters say the handout wouldn't have to be great to make a big difference.

Joanne Waddel, President of the LA College Faculty, says enough is enough.

"In this budget crisis everyone needs to pay their fair share to fund California's future."

Critical of Governor Jerry Brown's proposed one-percent tax on those making a million-a-year, the coalition says a little more from the top would go a long way in making a dent in the state's struggling deficit.

Fred Glass, California Federation of Teachers.

"The people who we are asking to pay their fair share constitute between roughly 100-150 thousand taxpayers."

"We're supporting the millionaire's tax initiative because it raises the most money out of all the initiatives. It asks the one-percent to pay their fair share, not the 99-percent. And it structures a fair change so we're not going to be back out here in five years, on the brink again."

And for these supporters, today is just the start of a lengthy journey ahead.