April 18, 2012

Building on the previous post - California circles the drain

The state of California is also trying to tax its way out of the hole. With expected results -- from the Orange County Register:
Editorial: No-tax, low-tax states booming
We wish it weren't so. But the evidence keeps coming in that other states, such as Texas and its Sun Belt neighbors, are doing something right in promoting business and jobs creation, and California is doing something terribly wrong. The U.S. Census Bureau just released estimates of the top 10 fastest-growing metropolitan areas, by population, from April 1, 2010, to July 1, 2011. Not one was in California.

The fastest-growing was Kennewick-Pasco-Richland, Wash., which grew 4.3 percent during the 15-month period. It enjoys a diverse economy and Washington's lack of a state income tax. Second-fastest growing was Austin-Round Rock-San Marcos, Texas, at 3.9 percent. It has become an educational and high-tech powerhouse and – notice a trend? – Texas has no state income tax.
More at the site -- they quote some numbers that really explain the depth of the problem and why states with smaller governments are doing so much better including this little tid-bit:
In the California Legislature, just 18 percent of the majority Democrats held jobs in business, farming or medicine before being elected; the rest came from backgrounds in government or community organizing, or were lawyers. By contrast, for Texas' majority Republicans in their legislature, 75 percent had been in medicine, business or farming. And in the Lone Star State, he added, even Democrats are more than twice as likely to have private-sector backgrounds than are their Democratic legislative counterparts in the Golden State.
Kind of explains a lot doesn't it... Posted by DaveH at April 18, 2012 1:56 PM
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