What Prop. 30 Means For Your Taxes

Wait ... Californians actually voted to tax increase their own taxes?

Get outta here!

Like most Americans, California residents don't look too kindly on the notion of raising taxes. In fact, voters have rejected statewide tax measures the last seven times they've been on the ballot!

So in many ways, it's pretty miraculous that on Tuesday 54 percent of California's electorate approved Proposition 30, which temporarily increases sales tax for everyone by a quarter cent and raises income taxes for those making over $250,000. The measure, which Governor Jerry Brown crafted and threw himself behind, is expected to raise about $6 billion a year and prevent massive cuts to the state's already beleaguered public education system.

Here's how it'll affect you:

Brown staked much of his political reputation on winning what became a bitter, hard-fought, and incredibly pricey fight; both sides waged a relentless ad war, collectively spending more than $120 million.

"I know a lot of people had some doubts and some questions: Can you really go to the people and ask them to vote for a tax?'' Brown told supporters at the victory party late Tuesday night. "Well here we are. We have a vote of the people - I think the only place in America where a state actually said, let's raise our taxes for our kids, our schools, for our California dream."

And he was right. In a state where voters haven't approved a tax hike in almost three decades, the very real threat of huge cuts to education appears to have actually resonated with voters.

The consensus seemed to be: "Yes, taxes suck, but some things are just too important to lose."

The temporary nature of the tax, also, likely made the measure more palatable to voters.

Interestingly, it was younger voters who turned out in force on Tuesday in support of the measure. Voters ages 18-29 - who Brown and his campaign targeted - made up almost 30 percent of the electorate and were critical in pushing the measure through.