Even if you don’t live in the Pyrite State, I hope you’re enjoying the show of our state budget charade. The budget deficit is $42 billion, probably higher. Tax increases are inevitable — and won’t work. Higher taxes will only make matters worse.
The Democratic majority and Gov. Arnold (R-Austria) long have plumped for tax hikes. Republicans have held out, but now are cracking. The GOP will exchange tax hikes form some cosmetic spending reforms.
None of it matters. Spending will have to be cut sharply, at least $20 billion a year — and every tax rate increase actually will reduce tax revenues. That’s because business keep fleeing Taxifornia. If you’re not here, they can’t tax you — at least not as much.
The latest company to leave is Hilton Hotels.
Losing companies is the just the start. Unless we are growing we are declining! A couple of thoughts that are disturbing. The California population in now in decline. Those empty Commercial buildings are creating more empty neighborhood businesses….because new business they wants traffic…especially with retail biz.
Unless we are careful, all businesses will be forced into a virtual biz world, all being run out some storage facility, worked by illegal immigrants sending out orders for Amazon.Com.
Unless, a housing floor is found fast….more and more neighborhoods will start to look like Stockton!
R & A,
I’m trying to confirm your claim that California population is declining and I can’t find any sources. I’m also interested to know the exact figures to confirm that commercial occupancy is declining and if so by how much over what period.
#2, just take in consideration the most of school districts are having less(registration is declining) students because families are moving out of “taxifornia”.