Posted in the San Diego Forum
#1 Dec 22, 2012
California's residents who elect politicians that promise to steal from the "rich" (everyone who pays income tax) are pushing these "rich" folks out of the state. This will progressively increase the burden of income and sales taxes for those who remain.
The chart of this self-destruction has been curving upward steeply in recent years and will certainly take a steep jump with the newest tax increase.(It was sold as a temporary tax but sensible people just laugh at this promise.)
The tax deficit this year will be near $30 billon, adding another $2,500 of debt per household to pay off. With the top earners leaving, the middle earners will have to be taxed even more for essential services. Yet the Governor has approved another $100 billion debt for a fast train and is trying hard to get approval of a $25 billion debt for entirely unnecessary tunnels and levees raising in the Sacramento Delta.
It seems reasonable to wonder whether the Governor is breaking California's bank to create a legacy for himself or to drive conservatives out so that he may enjoy unrestricted power, as Fidel Castro did so successfully.
#2 Feb 7, 2013
I've been corrected, the deficit is only $22 billion, hidden beneath the verbiage of politicians and journalists who want to cover it up by claiming mythical revenues.
No mention of the $87 billion outstanding debt that is rsyomh up more than a thousand dollars per taxpayer on average.
Anyone have an exact figure for this stealth extortion?
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