A Chula Vista attorney has submitted a proposal to the California Attorney General’s office for a constitutional amendment that would overhaul the state’s tax system via the voter initiative and referendum process.
Frank D. Walker, 58, the amendment’s author and founder of "Prosper California," a group now forming to support the proposed ballot measure, said the reform would abolish the state income tax for individuals with annual incomes below $150,000 and cap the state income tax rate at 8 percent. Additionally, he said, the proposal abolishes the sales tax, except on tobacco products, alcoholic beverages and motor fuels, and also does away with the state’s corporations tax.
Walker said the measure, which he hopes will qualify to appear on next November’s statewide ballot, repeals the current property tax and establishes a tax of 75 percent on the fair market monthly rental value of non-exempt land, irrespective of the value of buildings, houses, other manmade improvements and growing crops, none of which will be taxed.
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