Comment by mdorazio

Of course they do! Just look at the chart here: http://www.sacbee.com/site-services/databases/article9349178... and the referenced franchise tax info.

I am really tired of seeing sensationalist headlines like these. The top 1% of income earners earn an absolutely massive portion of all income in the state, but only pay 45% of taxes. We should be asking if that's enough, not implying that the wealthy are somehow propping up the state's finances when inequality is accelerating every year.