Business and the Wealthy Flee. California’s Response? Higher Taxes!

It’s a gloomy day in California.  The sky is gray.  There’s a chill in the air.  And I’m not just being metaphorical.

While other states are seeing an increase in tax revenues, California’s tax revenues were  20% ($2.4 billion) below target and the deficit is up to $16 billion, (versus the projected $9.2 billion deficit).  Governor Moonbeam has admitted they’ll have to cut more expenditure, but for the sake of the children, he wants to raise the sales tax, which is already among the highest in the land.  Oh, and tax the rich some more.

I grew up here and the weather is awesome.  But the idea of moving to Florida is appealing more and more.

If you want to be depressed (or entertained) by more details, read this great WSJ piece here or this article by the San Jose Mercury News here.

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About Mystic Cowgirl

I worked overseas in the aid game for longer than I'd like to admit and learned several important things: 1) Third World countries aren't poor because America is rich. They're impoverished due to socialist governments that provide neither rule of law nor basic infrastructures; 2) These socialist governments redistribute wealth from taxpayers to the government workers. There's no benefit to the poor or downtrodden, and certainly not to the general welfare in terms of infrastructure improvements. 3) America is moving toward the Third World model. Rule of law has been subverted because equality under the law is disappearing as special interests carve out exemptions to regulations and special favors under the law. The redistribution of wealth to government began decades ago -- total compensation for government employees now outpaces salaries in the private sector.
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