California, the least business-friendly, the most tax-and-regulation-friendly, state in the Union, finds itself short on tax revenue.
How could that be with all the taxes it's levying on its citizens and corporations?
I'll let them figure it out. I'll not waste my time on them.
But I will provide this:
Controller: [California] to run out of cash in March without action
I'm thinking it's time to raise more taxes ...
1 comments:
The issue in California isn't regulation, or taxes, or any "one" thing.
I would suggest that the problem with California is their voter initiative system. The citizens there have literally backed themselves into a corner from which it's hard to see a way out.
The voters there have thirty years now of passing initiatives that cap taxes, create mandatory increases in public spending, and provide no authority to anyone to do anything about it when the two are in direct conflict.
And it's not funny. California's economy is vitally important to the US. Heck, one out of nine Americans LIVES in California for crying out loud.
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