Gavin Newsom cashes in on book deal, tax breaks

The frontrunner in California’s governor’s race and his wife made more than $1 million annually and gave away about $100,000 a year on average to charitable causes over a recent six-year period.

Democratic Lt. Gov. Gavin Newsom and Jennifer Siebel Newsom revealed their income and charitable giving Monday at the downtown offices of his political consultants, SCN Strategies, by providing to reporters copies of his tax returns from 2010 though 2015.

Newsom and Siebel Newsom averaged $1.45 million per year in income and paid about 26 percent in Federal taxes and 9.5 percent in state taxes.

Note: The highest Federal income tax bracket is 39.6%. The highest California income tax bracket is 13.3%.

Read the whole story in the Sacramento Bee

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