Proposition 38 ("Our Children Our Future") advocate Molly Munger will talk and answer questions about Proposition 38 and how this ballot measure would support K-12 education for the State of California. Spanish translation provided on request.
Proposition 38 would authorize new income taxes for 12 years, charging residents on a sliding scale based on their income, according to the state's analysis of the measure.
The new taxes would raise an estimated $10 billion in 2013-2014 and would likely increase over time. Rate increases would run from .4 percent for the lowest earners up to 2.2 percent for the state's highest earners.
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For the first four years the money would be allocated with 60 percent of the money going to K-12 education, 30 percent to pay down school district debt and 10 percent to early childhood education, according to the state's analysis.
For the final eight, 85 percent of money would go to K-12 education.
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