California. 8th largest economy on the planet. Rich with industry, agriculture, and real estate. And look at the mess they're in. $40B in deficit! How did they get that way? 1. Government got too big. 2. Social spending overwhelmed the budget. And that's in a "high tax" state. You read where they are planning to raise taxes to ease the shortfall. You also read where many of the wealthy are moving to lower tax states. What happens if ALL the wealthy move to Arkansas? Who will be left in California to pay for social programs? America as a country is traveling down the same path. The WRONG path. What we should be doing is encouraging GROWTH. Encourage international business to move their money to the USAâ¦. to make their products here⦠and employ American workers. We accomplish that goal by enabling policies which are business friendly and tax friendlyâ¦. broadly based, lower taxes. NObama plans to raise taxes on business and the wealthy⦠encouraging all to leave who can. Others will follow when they "can't stand it any more". What will be left of America then? Who will be left to PAY for social programs? NOBODY, that's who. AMERICA CANNOT AFFORD SOCIALISM!
Come on man, you know why they're doing what they're doing. It's not about encouraging growth, it's about globalized power consolidation. That takes precedent over America having an efficient and prosperous economy.
When the takers outnumber the producers, what ya get is California. USA is next. Catastrophic debt. Our death warrant was signed last Tuesday in Colorado.
In the state that is home to the Hollywood Elite, the most bleeding heart liberals on the planet, the most overpaid and underproducing people in the country who love to tell the rest of us how we should live, I don't understand why they (the Hollywood Elite) don't take up a collection amongst themselves and "bail out" California themselves. Hey Tom Cruise, hey Sean Penn, Susan Sarandon, Tim Robbins, HEY MARTIN SHEEN, here is your chance to step up and show the world how much you truly care about the plight of other human beings! YEAH RIGHT!! Just another case of "do as I say, not as I do!"
Important to note that the voters of CA voted DOWN a constitutional admendment to cap state spending based on a formula of population growth and inflation. Had this reasonable cap been in place for the past 10 years the state would actually have a surplus. What has happened is a near doubling of state spending in the past decade. Revenues are up 55 percent in the same decade. CA will become the largest bankruptcy in the history of mankind. Funny thing is though, the CA bankruptcy will probably be adjudicated by a federal bankruptcy judge appointed by George Bush!
I hear you brother. Unfortunately America spoke on Nov 11th and we want Socialism. I mean, we have been going down this path for some time since 1932. Bottom line, Katrina proved it, people want security not freedom. Have you seen some of the Obama Townhalls? How can I get a house with a bigger kitchen or a car, or better benefits for McDonalds. Today, if you need you shall receive, if you have you shall give. So sayeth the Holiest B.H.O.
The common man is an idiot. This is why democracy cannot work. I left CA. The last straw was when they passed on a bond measure to raise my property taxes. I ditched CA in 2006. Glad I did.
That's interesting. California has some of the lowest property tax rates in the nation. It ranks high among other states for income tax, corporate tax and sales tax.