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2. You’re forced to pay sky-high taxes that just went higher. Forget the rich, who just got their taxes jacked up by Proposition 30, passed by another generation of misguided voters. Prop. 30 also increases sales taxes, already the highest in the country, grabbing another $1 billion a year, mainly from the middle class.
The top middle-class tax rate, 9.3 percent, also kicks in at around $48,000 of income, by far the highest of any state. California is the only state whose income tax is both “progressive” (aimed at the rich), because the top rate now is 13.3 percent, and “regressive” (aimed at the middle class) because of that 9.3 percent kicking in at $48,000. Indeed, $48,000 puts you in the lower-middle class. You can’t even raise a family on that in California (although you could in low-cost Michigan or Arkansas).
3. The crummy K-12 government school system means you need to pay for tutors or private-school tuition. That means you have to make even more money — which is taxed at the 9.3 percent rate!
4. Anti-jobs legislation, such as Arnold’s and Gov. Jerry Brown’s beloved AB 32, have killed hundreds of thousands of high-paying, middle-class jobs in industry.
The solutions are simple:
Streamline the byzantine tax code.
Cut the red tape.
Cut the bloated government bureaucracy.
Deport the illegals.
After all, what do Texas, Alaska and Montana (and their vastly superior economies) have that California doesn't?
quote:
This solution is professional economic cost-benefit analyses of California’s off-budget ~$600 billion in surplus taxpayer cash and investments. Professional and public consideration will conclude structural changes would instantly fully fund California’s budget. This $600 billion is disclosed in California’s 2011 Comprehensive Annual Financial Report (CAFR). About $100 billion is in cash, and $500 billion for investments claimed to fund California public pensions. To put this in perspective, our SRVUSD budget cuts are part of California’s budget deficit of $16 billion.
Moreover, the current $27 billion state pension cost only received $1 billion net income from our $500 billion investment fund, with fund managers paid over $2 billion. The good news is that these colossal funds are unknown to the general public, and could be restructured to easily fully fund California’s budget.
Because the GOP in California is notoriously fractious and divided, and the Dems are the only game in town (other than for the House and the state legislature). The California Republicans have a bad rep, stemming from the party's support of the war on drugs and the outsized influence of social conservatives . If the CA GOP became pro-weed and pro-gay rights it might be a contender again.
Fiscal conservatives in California, however, would have an easier time running as Dems than as Republicans.
The housing crash is what hurt California during the worst of the Great Recession, and it's on a major comeback trail. Those higher taxes will lead to a budget surplus at the end of the year.
California will never fail, no matter how much right-wingers pray for it.
The housing crash is what hurt California during the worst of the Great Recession, and it's on a major comeback trail. Those higher taxes will lead to a budget surplus at the end of the year.
California will never fail, no much right-wingers pray for it.
Its funny: The same state, same facts, one poster says it 3rd world, the other "a major comeback"...
Didn't they do a bunch of prospects that showed that California had q bunch of oil?
Too bad it's expensive to get though
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