Taxes on the wealthy

55 Question: Should the wealthiest Californians continue to pay higher income tax rates? Money raised for “Yes” campaign: $57.1 million Money raised for “No” campaign: $3,000 What you should know: Four years ago amid a severe state budget crisis, Californians approved temporary higher income tax rates on the state’s richest taxpayers. With the rates set to expire soon, labor unions and hospital groups are the primary funders of the campaign to continue assessing the higher rates through 2030. Supporters warn of budget cuts if the measure fails. The money would be spent on California schools and government healthcare programs, which likely would free up existing tax dollars for other state government programs.