California was once the land of opportunity, but it is going down the tubes. Several of California’s prominent cities have declared bankruptcy, such as Vallejo, Stockton, Mammoth Lakes and San Bernardino. Others are on the precipice, and that includes Los Angeles, California’s largest city. California’s 2012 budget deficit is expected to top $28 billion, and its state debt is $618 billion. That’s more than twice the size of New York’s state debt, which itself is the second-highest in the nation…….the liberals’ solution to deficit and debt…… raise taxes on California’s rich to balance the budget and pay down the debt……make the rich pay their fair share.
The downside to such a tax strategy is the fact that people are already leaving California in great numbers……and have done so for the past 10 years …[and]…take their money with them…… California’s out-migration results in large shares of income going to other states, mostly to Nevada ($5.67 billion), Arizona ($4.96 billion), Texas ($4.07 billion) and Oregon ($3.85 billion). That’s the problem. California politicians can fleece people in 2012, but there’s no guarantee that they can do the same in 2013 and later years; people can leave. Also, keep in mind that rich people didn’t become rich by being stupid…….California has one-eighth of the nation’s population but one-third of its welfare recipients....To Read More.....
My Take - Once again I have to point out that we owe an enormous debt of gratitude to California. Stupid is so rampant in California that all we merely have to do is just the opposite of Californians and success will be guaranteed. Thank you California!
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