Watch CA implode...

Cancel 2016.2

Cancel 2016.2

The Almighty
http://www.humanevents.com/2012/11/...ans-hand-over-their-pin-numbers-to-democrats/

Voters also approved Prop. 39. “Democrats received a second tax boost Tuesday when Prop. 39 passed, raising $1 billion annually for clean energy programs and the state budget by increasing taxes on multistate companies based elsewhere,” reported the Bee.
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I wonder what the reaction will be for those companies. For those that are simply service companies or are just selling product, they will likely continue doing so as long as it is profitable. For those that may be looking to manufacture... think they will expand anytime soon into CA?

Liberals will now be able to test their 'tax tax tax so we can spend spend spend' plan to their hearts desire. We shall see how well CA does.

On a side note... they gave those super poor bastards in Hollywood more subsidies at the expense of the working class.
 
Dungheap said:
California's prop system is a fucking train-wreck. It's really really really awful.
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The entire State is awful. Hence their problems. Now that it appears Dems have supermajorities across the board, watch how fast it 'gets better' under the higher taxes that are bound to be coming.

This just in... public union employees laughing at idiots in private sector that keep electing Dems.
 
Superfreak said:
The entire State is awful. Hence their problems. Now that it appears Dems have supermajorities across the board, watch how fast it 'gets better' under the higher taxes that are bound to be coming.

This just in... public union employees laughing at idiots in private sector that keep electing Dems.
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Well, there's a nuanced take.
 
All states face challenges but there is no denying California being at the top of that list. As long as a majority of budget is set by propositions and we are so reliant on the top 1% for our tax revenues which creates such ups and downs for the state yet spending stays constant we are going to continue on this slow downwards projectory. The states population has stayed pretty constant but within the numbers you have people with higher incomes leaving the state being replaced by people more reliant on government services and it is going to take a toll.


California's unstable tax base, debt and falling revenue are among the threats that could upend the budget despite the infusion from the passage of Proposition 30.

http://www.latimes.com/news/local/la-me-state-budget-20121112,0,811680.story
 
The Dude said:
List of U.S. states and territories by GDP in 2010[3]
GDP
Rank State GDP
($Millions) Percentage of
national GDP Population
(Millions) GDP
per capita ($) GDP Rank
per capita

United States 14,657,800 100.00 308.7 47,482

1 California 1,936,400 13.34 37.3 51,914 12
2 Texas 1,307,432 7.95 25.1 45,940 24
http://en.wikipedia.org/wiki/List_of_U.S._states_by_GDP
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Top there are still a lot of great things about California. The biggest to me is the entrepreneurial spirit held by so many who live here. But that doesn't take away from the challenges California faces and has been facing. Today I believe we are the world's ninth largest economy. We are not going to drop to say 15th overnight. But the fact is California has been on a slow slide (cost of education being one of the biggest reasons). It's not something we can't fix but it is also something that will continue to drag the state downwards if not taken care of. Just looking at the numbers that say California is number one is to miss the bigger picture of what's going on here.
 
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