California raising Sales Tax and Vehicle License Fee Apr. 1 (borrowing, buy, interest)
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when taxes are too high, it stifles real wealth creation, resulting in lower tax revenues anyway. laffer curve folks. but we all know that government allocates capital (to themselves and the people that financed their election campaigns) better than individuals. I'm glad I don't live in that hell hole of a state. I reckon it'll be a total wasteland within a decade.
I used to believe that, but I don't now after living abroad. Let's take Northern Europe case in point. Nordic countries that have taxes that make California taxes seem like nothing for decades now. Yet, many of these Nordic nations seem to be doing very well indeed, much better off than the average Americans and hardly a total wasteland.
What do you all expect? The states have to raise money. This is yet one of the ways they are finding to do it. Expect more.
This is the highest tax increase in any state in history (53 billion dollars).Its going to hurt alot of people especially during this recession.Greed is alive & well in ca.
I used to believe that, but I don't now after living abroad. Let's take Northern Europe case in point. Nordic countries that have taxes that make California taxes seem like nothing for decades now. Yet, many of these Nordic nations seem to be doing very well indeed, much better off than the average Americans and hardly a total wasteland.
That's what it seems the Peoples Republic of Kalifornia is and has been politically striving for for years doesn't it? - The social democracies of Europe - high taxes, high social services and entitlements. The failures of the state of California should be proof that what works in the relatively small and homegenous cultures of northern europe won't work here in the United States, particularly in the diverse culture and industrial diversity of California.
I think the sales tax rate is going to be 10.25% in Los Angeles (or is it 9.25%???)? I know that most businesses are going to take a beating, but I can't even tell you how bad this is going to be for the industry that my husband's in. There's really nothing like high taxes and a recession to finish companies off.
Last edited by mommabear2; 03-30-2009 at 03:59 PM..
Reason: Not sure if it's 9.25% or 10.25% depending on if it's a business or ind.
This is the highest tax increase in any state in history (53 billion dollars).Its going to hurt alot of people especially during this recession.Greed is alive & well in ca.
People are cutting back everywhere... even the big Hospitals are holding-off any non essential purchases...
For the most part it seems everyone is trying to make do with what they have or buying second hand...
BTW..ca state workers are the best paid in the nation.They receive excellent benefits,pensions & the teachers & prison unions OWN the scum politicians in sacramento.Govenor Benedict Arnold is a total coward...WOW!!!!
Your buddy Arnold did everything he could to stop the outrageous pensions paid out a couple of years ago. He told everyone then that they were breaking the state bank, but the teachers union and the prison guard union lied to the voters and voted down Arnold's plan to cut expenditures.
So don't blame Arnold, blame the people who supported the unions...!!
Get your facts straight and hate the right people...!
The facts are that when you have spent money like its going out of style;that you either have to raise money(spelled taxes or fees) or else reduce spending which reduces services.The larger the government the more it cost. As to euriope;even they are choiking at the amount of stimulus money being spent by the US and are reluctant to get that debt riden route.Nordic countries also have long depended on US defnse spending alog with the rest of europe that also needs to be cahnged.
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