As free thinking people in this state thought would happen, it is happening. Prop 30 will force the golden goose’s ass to pucker up tight.
A vote last month that makes Californians among the highest-taxed residents in the country is sparking debate about whether the Democrat-back initiative will backfire, by forcing high-earners to join a long exodus from the cash-strapped state.
Democratic Gov. Jerry Brown successfully pushed the tax increase by suggesting that high-earners must shoulder the largest burden in bailing out the state, particularly its debt-ridden public school system.
Will it backfire? Sure will and it will backfire in a way that is going to make the shortfall Brown had when he got elected seem small.
As businesses leave California, they close doors. As doors close, workers are laid off. As workers are laid off, workers go on unemployment. When workers are on unemployment, they stop buying things they don’t NEED. When they stop buying things they don’t need, other businesses close. As businesses close and workers are not working, revenue for the state shrinks and at the same time, more money is needed to help the laid off workers.
A never-ending cycle of debt is ensured.
The democrats answer to everything is to raise taxes. When you’ve raised taxes to the point that the state is the highest taxed state in the nation, you’ve gone too far. When you’ve gone to far—- See above paragraph.
Those who pushed for prop 30 to “Save the children” again, didn’t care. The teachers Union, SEIU etc got theirs. Every time a tax hike shows up on the ballot, the same excuse is given “For the children”… NEVER does any proposition from the democrat led government of CA involve CUTTING OFF SPENDING!
The very same time Jerry Brown put tax hikes on the ballot, he also kept CA a sanctuary state. The FLOOD of illegals here has put such a drain on our social resources that to continue that process, they must continuously raise taxes on the producers of the state. The producers are fed up and they are MOVING in droves. When the producers move—See the first paragraph after the story….
Hello America, do you see where you are heading?
California will require a massive bailout very soon. I’m thinking by August 2013, California will be in such financial ruin that downgrades in credit ratings will occur. There will be massive debates regarding how to fix it. California has a super majority DEMOCRAT rule. The United states is controlled by DEMOCRATS. What do you think happens? PRINT MORE MONEY bail out CA. When we print more money value goes down, when value goes down inflation goes up. When inflation goes up, costs go up, when costs go up prices go up, when prices go up, some businesses close because of costs to do business.. You know what happens when businesses close?.. See first paragraph after the story…
Happy New Year huh? Just wait. Drink up folks, gonna be a hell of a year.