California State Univ Long Beach Student Protests Against Tuition Hikes
Vacant Store Fronts San Francisco
Double Digit Unemployment continues to worsen in California–Statewide Unemployment rose to 12.5% in December, the seasonally adjusted unemployment rate in Los Angeles County spiked to 13% the California Economic Development Dept reported today.
Out of Business—Vacant Store Front San Francisco
Nearly one year ago, Sarah Palin addressing a Tea Party Rally inquired, “How’s that hopey changey thing working out…”
For the State of California, not very well. Gov Jerry Brown Declares a Fiscal Emergency resulting from a $25 Billion Dollar Deficit over the next 16 months.
“The Budget is crisis is only the beginning of California’s Economic difficulties,” writes Glenn Ray “Regulation is the silent killer of California’s prosperity and much of it is imposed by unelected bureaucrats operating within the bowels of state departments and agencies. The regulatory environment is so uninviting that a recent survey of more than 650 corporate executives ranked it the worst state in the nation in which to do business.”
What are California Democrat-Socialists planning to do—raise taxes of course. Gov. Jerry Brown has proposed new $12 Billion Dollars in higher taxes on income (despite increasing unemployment) additional sales and car taxes, while Assemblywoman Nancy Skinner-Berkley, has proposed a new Amazon Tax which is being sold will add $300 Million to state coffers despite evidence to the contrary from Rhode Island, North Carolina and Colorado that enacted a similar tax, which generated no additional revenue, while hurting business and stifling economic growth.
Keynesian Democrat-Socialists (Progressives as they like to refer to themselves today) solution of raising taxes–user fees and such will have negative results, killing opportunity and driving people from the Golden State to lower taxed states.
A robust supply side economic plan instead would help to create incentives for expansion, new job development, economic prosperity while increasing revenue—the Laffer Curve remains true.
Related: Sen. Jim Demint: There will be no Bailouts to the States –National Review
Hello Supply Side –Alan Reynolds, CATO Institute
Will Congress Create (Unconstitutional) State Bankruptcy Laws? –New American
Despite Huge Losses, San Francisco Pensions Fund $170 Million to be Paid Out –Bay Citizen
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