Where’s Washington State headed?
Posted by Liberty on February 18, 2009
“The Golden State — which a decade ago was the booming technology capital of the world — has been done in by two decades of chronic overspending, overregulating and a hyperprogressive tax code that exaggerates the impact on state revenues of economic boom and bust. Total state expenditures have grown to $145 billion in 2008 from $104 billion in 2003 and California now has the worst credit rating in the nation — worse even than Louisiana’s. It also has the nation’s fourth highest unemployment rate of 9.3% (after Michigan, Rhode Island and South Carolina) and the second highest home foreclosure rate (after Nevada).
Roughly 1.4 million more nonimmigrant Americans have left California than entered over the last decade, according to the American Legislative Exchange Council. California is suffering more than most states from the housing bust, but its politicians also showed less spending restraint during the boom.”
Please note that California has both a sales tax and an income tax. Ask a Californian how that’s working out for them.
This entry was posted on February 18, 2009 at 4:19 pm and is filed under Arrogant politicians, Liberalism, Redistribution of wealth, Social engineering, Socialist economics, Taxes. Tagged: California, Government spending, Over-regulation, Redistribution of wealth, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.